Company: BHM
Filing Date: 2025-10-08
Form Type: S-11
Source: 0001104659-25-097905
Chunk: 253

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-10-08
Form: S-11
Chunk 253
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ly on each of April 1,
2026, April 1, 2027 and April 1, 2028 (collectively, the “April 1, 2025 Annual Incentive Grant Vesting Dates”).

(12) Total
includes (i) 19,223 LTIP Units issued to Mr. DiFranco as part of the Initial Staking Grant, of which 6,408 vested on each of
November 3, 2023 and November 3, 2024, and 6,407 will vest on November 3, 2025, (ii) 2,471 LTIP Units issued to Mr. DiFranco
as part of the 2023 Annual Incentive Grant, of which 1,236 vested on May 25, 2024 and 1,235 vested on April 1, 2025, and (iii) 1,714
LTIP Units issued to Mr. DiFranco as part of the 2024 Annual Incentive Grant, which vested on April 30, 2025. Total does not
include (i) 12,814 remaining unvested LTIP Units issued to Mr. DiFranco in connection with the Initial Staking Grant, which
will vest ratably over the Remaining Initial Staking Grant Vesting Dates, (ii) 1,235 unvested LTIP Units issued to Mr. DiFranco
as part of the 2023 Annual Incentive Grant, which will vest on the Remaining 2023 Annual Incentive Grant Vesting Date, (iii) 3,427
unvested LTIP Units issued to Mr. DiFranco as part of the 2024 Annual Incentive Grant, which will vest ratably over the Remaining
2024 Annual Incentive Grant Vesting Dates, or (iv) 4,136 unvested LTIP Units issued to Mr. DiFranco as part of the April 1,
2025 Annual Incentive Grant, which will vest ratably over the April 1, 2025 Annual Incentive Grant Vesting Dates.

(13) Total
includes (i) 15,378 LTIP Units issued to Mr. Emala as part of the Initial Staking Grant, of which 5,126 vested on each of November 3,
2023 and November 3, 2024, and 5,126 will vest