SEC Form 4 · accession 0000899243-17-020376

NexPoint Residential Trust, Inc. · NXRT

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

James D Dondero

Officer — President · Director · 10% Owner

Period of report

Aug 11, 2017

Accepted (ET)

Aug 15, 2017 · 6:03 pm EDT

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0001620393

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Common Stock^F1	Aug 11, 2017	M	25,523	—	A	30,725	D
Common Stock^F3	Aug 11, 2017	S	220,527	$23.20	D	1,806,823	I	By Highland Capital Management, L.P.
Common Stock^F4	Aug 11, 2017	P	2,000	$23.2986	A	17,400	I	By NexPoint Advisors, L.P.
Common Stock^F5	holding	—	—		—	1,915,536	I	By trust
Common Stock^F6	holding	—	—		—	7,500	I	By limited liability company
Common Stock	holding	—	—		—	20,500	I	By employee benefit plan
Common Stock^F7	holding	—	—		—	54,500	I	By Highland Capital Management Fund Advisors, L.P.

Table II — derivative securities

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Restricted Stock Units^F1,F8	—	Aug 11, 2017	M	25,523	D	—	—	Common Stock	25,523	25,523	D

Explanation of responses

F1Each restricted stock unit represents a contingent right to receive one share of common stock of NexPoint Residential Trust, Inc.
F2There were no matchable transactions during the previous six months at a purchase price below the sales price. Therefore, no disgorgement was necessary.
F3These shares are held by Highland Capital Management, L.P. ("HCMLP") both directly and indirectly through advised accounts. Mr. Dondero is the President and the director of Strand Advisors, Inc., HCMLP's general partner, and may be deemed to be an indirect beneficial owner of shares held by HCMLP. Mr. Dondero disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
F4These shares are held by NexPoint Advisors, L.P. ("NP") indirectly through an advised account. Mr. Dondero is the sole member of NP's general partner, and may be deemed to be an indirect beneficial owner of shares held by NP. Mr. Dondero disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
F5These shares are held by a trust pursuant to an employee purchase plan. Mr. Dondero disclaims beneficial ownership of such shares.
F6These shares are held by a limited liability company in which the trust referenced in footnote 4 to this Form 4 owns a majority interest. Mr. Dondero disclaims beneficial ownership of such shares.
F7These shares are held by Highland Capital Management Fund Advisors, L.P. ("HCMFA") indirectly through an advised account. Mr. Dondero is the sole stockholder and director of Strand Advisors XVI, Inc., HCMFA's general partner, and may be deemed to be an indirect beneficial owner of shares held by HCMFA. Mr. Dondero disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
F8On August 11, 2016, the reporting person was granted 51,046 restricted stock units which vested 50% on August 11, 2017, and will vest 25% on August 11, 2018 and 25% on August 11, 2019.