X0306 4 2017-12-18 0 0001620393 NexPoint Residential Trust, Inc. NXRT 0001228922 DONDERO JAMES D 300 CRESCENT COURT, SUITE 700 DALLAS TX 75201 1 1 1 0 President 0001167365 HIGHLAND CAPITAL MANAGEMENT LP 300 CRESCENT COURT, SUITE 700 DALLAS TX 75201 0 0 1 0 0001469877 HIGHLAND CAPITAL MANAGEMENT FUND ADVISORS, L.P. 300 CRESCENT COURT, SUITE 700 DALLAS TX 75201 0 0 1 0 0001617621 NexPoint Advisors, L.P. 300 CRESCENT COURT, SUITE 700 DALLAS TX 75201 0 0 1 0 Common Stock 2017-12-18 4 P 0 10000 28.5025 A 1911154.39 I By Highland Capital Management, L.P. Common Stock 2017-12-18 4 J 0 316173.84 26.62 D 1611275.27 I By trust Common Stock 2017-12-18 4 J 0 316173.84 26.62 A 2227328.24 I By Highland Capital Management, L.P. Common Stock 19662 I By NexPoint Advisors, L.P. Common Stock 31054.9 D Common Stock 7500 I By limited liability company Common Stock 21844.02 I By employee benefit plan Common Stock 55010 I By Highland Capital Management Fund Advisors, L. This transaction was executed in multiple trades at prices ranging form $28.43 to $28.5063. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. These 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. An entity referenced in footnote 2 to this Form 4 loaned the entity referenced in footnote 4 to this Form 4 shares of the issuer. On December 18, 2017, a portion of this loan was repaid in cash which resulted in a deemed disposition of the shares serving as collateral for the repaid portion of the loan. Mr. Dondero has disgorged $8,811.75 to the issuer, representing the full amount of his pecuniary interest in the deemed profit resulting from any matchable transactions. These shares are held by a trust pursuant to an employee purchase plan. Mr. Dondero disclaims beneficial ownership of such shares. These 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. These 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. These 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. /s/ James D. Dondero 2017-12-20 /s/ James D. Dondero, President 2017-12-20 /s/ James D. Dondero, President 2017-12-20 /s/ James D. Dondero, Authorized Signatory 2017-12-20