Company: BHM
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001104659-25-077615
Chunk: 101

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 101
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 10b-5 of the Exchange Act. The repurchase plan has a term of one year
and may be discontinued at any time. The extent to which the Company repurchases shares of its Class A common stock under the repurchase
plan, and the timing of any such repurchases, depends on a variety of factors including general business and market conditions and other
corporate considerations. The Company expects that any repurchases of its Class A common stock will be through open market transactions,
subject to market conditions, certain price limitations and other conditions established under the plan. Open market repurchases will
be structured to occur in conformity with the method, timing, price and volume requirements of Rule 10b-18 of the Exchange Act. As of
June 30, 2025, no repurchases of Class A common stock had been made by the Company.

Operating Partnership and Long-Term Incentive Plan Units

As
of June 30, 2025, limited partners other than the Company owned approximately 69.23% of the common units of the Operating Partnership
(7,365,404 OP Units, or 55.67%, were held by OP Unit holders, and 1,794,489 LTIP Units, or 13.56%, were held by LTIP Unit holders, including
3.12% which were not vested as of June 30, 2025). Subject to certain restrictions set forth in the Operating Partnership’s Partnership
Agreement, OP Units are exchangeable for Class A common stock on a one-for-one basis, or, at the Company’s election, redeemable
for cash. LTIP Units and C-LTIP Units may be convertible into OP Units under certain conditions and then may be settled in shares of the
Company’s Class A common stock or, at the Company’s election, cash.

On
March 7, 2025, the Company granted 21,254 C-LTIP Units, or approximately $245,000, to the Manager as partial payment of the total base
management fee of $2.5 million for the fourth quarter 2024. On May 13, 2025, the Company granted 20,445 C-LTIP Units, or approximately
$210,000, to the Manager as partial payment of the total base management fee of $2.5 million for the first quarter 2025. Such C-LTIP Units
were issued pursuant to the Management Agreement and were fully vested upon issuance.