Company: NXDT
Filing Date: 2025-06-12
Form Type: S-4
Source: 0001437749-25-020201
Chunk: 39

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-06-12
Form: S-4
Chunk 39
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 law and by the New NXDT Charter to set, subject to the provisions of the New NXDT Charter regarding the restrictions on ownership and transfer of New NXDT stock, the preferences, conversion and other rights, voting powers, restrictions, limitations as to dividends or other distributions, qualifications and terms and conditions of redemption for each class or series. |

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| Old NXDT                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |     | New NXDT                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| Amendment of Declaration of Trust or Charter                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| The Declaration of Trust may be amended (except as to limitations of personal liability of the shareholders and trustees, indemnification of trustees, officers and employees, certain provisions related to the shareholders’ voting rights, the procedures for winding up Old NXDT, the procedures for amending the Declaration of Trust, the approval thresholds for extraordinary actions such as mergers, and the provisions related to transactions with certain major shareholders) by the approval of the majority of the trustees without any vote of the shareholders. Notwithstanding the foregoing, no amendment may be made to the limitations of liability of shareholders and trustees, indemnification of trustees and officers, certain provisions related to the shareholders’ voting rights, the procedures for winding up Old NXDT, the procedures for amending the Declaration of Trust, the approval thresholds for extraordinary actions such as mergers, provisions related to transactions with certain major shareholders, which would change the rights with respect to any shares of Old NXDT by reducing any stated amount payable thereon in preference over all other classes or series of shares of Old NXDT upon liquidation or by eliminating any voting rights pertaining to such a liquidation, except after a majority of the trustees have approved a resolution therefor, by the affirmative vote of holders of not less than seventy-five percent of the shares of Old NXDT of each affected class or series outstanding, voting as separate classes or series, unless such amendment has been approved by eighty percent of the trustees, in which case it will be approved by a vote of the majority of shares of Old NXDT present in person or represented by proxy at a meeting of the shareholders at which a quorum is present and entitled to vote on the subject matter. |     | Under the MGCL, a Maryland corporation generally may not amend its charter unless declared advisable by its board of directors and approved by the affirmative vote of stockholders entitled