X0306 4 2020-03-25 0 0001620393 NexPoint Residential Trust, Inc. NXRT 0001228922 DONDERO JAMES D 300 CRESCENT COURT, SUITE 700 DALLAS TX 75201 1 1 1 0 President Common Stock 2020-03-25 4 S 0 9855 24.00 D 1882153 I By trust Common Stock 2020-03-25 4 S 0 30035 24.95 D 1852118 I By trust Common Stock 2020-03-25 4 S 0 8110 25.66 D 1844008 I By trust Common Stock 2020-03-25 4 S 0 2000 26.69 D 1842008 I By trust Common Stock 2020-03-25 4 S 0 10373 26.07 D 1364133.46 I By Highland Capital Management, L.P Common Stock 2020-03-25 4 S 0 4899 24.66 D 139803 I By NexPoint Advisors, L.P. Common Stock 2020-03-26 4 S 0 17401 25.04 D 1346732.46 I By Highland Capital Management, L.P. Common Stock 149452.98 D Common Stock 235033 I By Highland Capital Management Fund Advisors, L.P. Common Stock 26479.63 I By employee benefit plan Common Stock 16986 I By limited liability company 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 Securities Exchange Act of 1934 (the "Exchange Act"); therefore, no disgorgement was owed. The sale reported herein was for cash management in a collateral account and does 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 $23.41 to $24.39, 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 footnotes (2) and (4)-(6) to this Form 4. These shares are held by a trust pursuant to an employee purchase plan. Mr. Dondero disclaims beneficial ownership of such shares. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $24.41 to $25.37, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $25.41 to $26.35, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $26.435 to $26.96, inclusive. These shares are held by Highland Capital Management, L.P. ("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 in an account advised by NexPoint Advisors, L.P. ("NP") and does not reflect the portfolio manager's long-term view of the investment. These shares are held by 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. Includes shares acquired under the issuer's dividend reinvestment plan. 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 a limited liability company in which the trust referenced in footnote 3 to this Form 4 owns a majority interest. Mr. Dondero disclaims beneficial ownership of such shares. /s/ Brian Mitts, as attorney-in-fact 2020-03-27