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Filing Details

Accession Number:: 0000899243-20-009369
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2020-03-24 21:29:28
Reporting Period:: 2020-03-20

Accepted Time:: 2020-03-24 21:29:28
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1620393	Nexpoint Residential Trust Inc.	NXRT	()	4

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1228922	D James Dondero	300 Crescent Court, Suite 700 Dallas TX 75201	President	Yes	Yes	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Disposition	2020-03-20	1,354	$36.96	1,937,136	No	4	S	Indirect	By Highland Capital Management, L.P.
Common Stock	Disposition	2020-03-20	14,468	$33.06	1,922,668	No	4	S	Indirect	By Highland Capital Management, L.P.
Common Stock	Disposition	2020-03-20	1,800	$36.94	2,179,625	No	4	S	Indirect	By trust
Common Stock	Disposition	2020-03-23	508,382	$24.26	1,414,286	No	4	S	Indirect	By Highland Capital Management, L.P.
Common Stock	Disposition	2020-03-23	138,681	$24.24	2,040,944	No	4	S	Indirect	By trust

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Indirect	By Highland Capital Management, L.P.
No	4	S	Indirect	By Highland Capital Management, L.P.
No	4	S	Indirect	By trust
No	4	S	Indirect	By Highland Capital Management, L.P.
No	4	S	Indirect	By trust

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	149,453	Direct
Common Stock	234,952	Indirect	By Highland Capital Management Fund Advisors, L.P.
Common Stock	143,957	Indirect	By NexPoint Advisors, L.P.
Common Stock	26,480	Indirect	By employee benefit plan
Common Stock	16,986	Indirect	By limited liability company

Footnotes

The Reporting Person's sale of NexPoint Residential Trust, Inc. common stock reported herein was matchable under Section 16(b) of the Securities Exchange Act of 1934 (the "Exchange Act"). The Reporting Person has disgorged $6.04 to NexPoint Residential Trust, Inc., representing the full amount of his pecuniary interest in the deemed profit realized in connection with the short swing transaction, less transaction costs. The sale reported herein was for cash management at two Highland Capital Management, L.P. ("HCMLP") related accounts. Such sales do not reflect the portfolio manager's long-term view of the investment.
These shares are held by HCMLP both directly and indirectly through advised accounts. Mr. Dondero is the sole shareholder of Strand Advisors, Inc., HCMLP's general partner, and may be deemed to be an indirect beneficial owner of shares held by HCMLP. Effective January 2020 as a result of the change of control of HCMLP, Mr. Dondero no longer serves as the President or sole director of Strand Advisors, Inc. Given Mr. Dondero's historic role with HCMLP, his continued ownership interest and his role as portfolio manager, we have included shares held by advised accounts of HCMLP in this filing. Mr. Dondero disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
The Reporting Person's sale of NexPoint Residential Trust, Inc. common stock reported herein did not result in any profit from matchable transactions under Section 16(b) of the Exchange Act; therefore, no disgorgement was owed. The sale reported herein was for cash management at two HCMLP related accounts. Such sales do not reflect the portfolio manager's long-term view of the investment.
The Reporting Person's sale of NexPoint Residential Trust, Inc. common stock reported herein was matchable under Section 16(b) of the Exchange Act. The Reporting Person has disgorged $4,086.98 to NexPoint Residential Trust, Inc., representing the full amount of his pecuniary interest in the deemed profit realized in connection with the short swing transaction, less transaction costs.
These shares are held by a trust pursuant to an employee purchase plan. Mr. Dondero disclaims beneficial ownership of such shares.
The Reporting Person's sale of NexPoint Residential Trust, Inc. common stock reported herein did not result in any profit from matchable transactions under Section 16(b) of the Exchange Act; therefore, no disgorgement was owed. The sale reported herein was for cash management in a collateral account. Such sales do not reflect the portfolio manager's long-term view of the investment.
The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $24.24 to $24.41, inclusive. The Reporting Person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (7) to this Form 4.
The Reporting Person's sale of NexPoint Residential Trust, Inc. common stock reported herein did not result in any profit from matchable transactions under Section 16(b) of the Exchange Act; therefore, no disgorgement was owed.
These shares are held by Highland Capital Management Fund Advisors, L.P. ("HCMFA") indirectly through advised accounts. 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.
These shares are held by NexPoint Advisors, L.P. ("NP") indirectly through advised accounts. 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.
These shares are held by a limited liability company in which the trust referenced in footnote 5 to this Form 4 owns a majority interest. Mr. Dondero disclaims beneficial ownership of such shares.