Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 212

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 212
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11 of the Deferred Unit Plan. Where an award of Additional DUs would be prohibited by the limits set forth in Article 11 of the Deferred Unit Plan, the REIT may make a cash distribution to the applicable Participant in lieu of Additional DUs.

Elected DUs granted to Trustees pursuant to the terms of the Deferred Unit Plan will vest immediately upon grant (including any Additional Deferred Units issued pursuant to Elected DUs credited to a Participant’s account in connection with cash distributions as described above).

Granted DUs granted to Trustees pursuant to the terms of the Deferred Unit Plan will vest on the first anniversary of the date of grant (including any Additional Deferred Units issued pursuant to Granted DUs credited to a Participant’s account in connection with cash distributions as described above).

The Board may, in its discretion, at any time, subject to applicable law or the requirements of the TSXV or any other stock exchange upon which the Units are listed and any other Unitholder or other approval which may be required, permit the acceleration of vesting of any or all Deferred Units or waive termination of any or all Deferred Units, in the manner and on the terms as may be authorized by the Board.

Except with respect to Participants that are U.S. taxpayers, the Deferred Units (or a portion thereof) shall be redeemable by the Participant (or, where the Participant has died, his or her estate) on or after the date (the “Termination Date”) on which the Participant ceases to be a Trustee, provided any such redemption date is not later than one year following the date the Participant ceases to be a Trustee. For greater certainty, in the event that a Participant (or his or her estate) has not redeemed his or her Deferred Units prior to the date that is one year following the Termination Date, such Deferred Units shall be automatically redeemed on the date that is one year following the Termination Date without any action required on the part of the Participant (or his or her estate). If the Compensation, Governance and Nominating Committee terminates the Deferred Unit Plan, Deferred Units previously credited to Participants shall remain outstanding and in effect and shall be settled subject to and in accordance with the applicable terms and conditions of the plan in effect immediately prior to the termination.

For Participants that are Canadian residents and are not U.S. taxpayers, each vested Deferred Unit credited to a Participant’s Deferred Unit account will be redeemed automatically on the date on which the Participant files a written notice of redemption in the prescribed form with the Chief Financial Officer of the