Ramin Kamfar - Feb 22, 2023 Form 4 Insider Report for Bluerock Homes Trust, Inc. (BHM)

Role: Chairman and CEO, Director
Signature: /s/ Christopher J. Vohs, Attorney-In-Fact
Stock symbol: BHM
Transactions as of: Feb 22, 2023
Transactions value $: $0
Form type: 4
Date filed: 2/23/2023, 11:25 AM
Previous filing: Jan 4, 2023
Next filing: May 19, 2023

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	BHM	LTIP Units	Award		+85.8K	+21.13%		492K	Feb 22, 2023	Class A Common Stock	85.8K		See Footnote	F1
transaction	BHM	LTIP Units	Award		+17.5K	+3.55%		509K	Feb 22, 2023	Class A Common Stock	17.5K		See Footnote	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents long-term incentive plan units ("LTIP Units") in Bluerock Residential Holdings, LP (the "Operating Partnership"), of which the Issuer is the general partner. The LTIP Units are owned by Bluerock Homes Manager, LLC (the "Manager"), in which R. Ramin Kamfar owns an indirect pecuniary interest. These LTIP Units were fully vested upon issuance, and may convert to Operating Partnership Units ("OP Units") upon reaching capital account equivalency with the OP Units held by the Issuer, and may then be redeemed for cash or, at the option of the Issuer and after a one year holding period (including any period during which the LTIP Units were held), settled in shares of the Issuer's Class A common stock on a one-for-one basis.

Content

Represents long-term incentive plan units ("LTIP Units") in Bluerock Residential Holdings, LP (the "Operating Partnership"), of which the Issuer is the general partner. The LTIP Units are owned by Bluerock Homes Manager, LLC (the "Manager"), in which R. Ramin Kamfar owns an indirect pecuniary interest. These LTIP Units were fully vested upon issuance, and may convert to Operating Partnership Units ("OP Units") upon reaching capital account equivalency with the OP Units held by the Issuer, and may then be redeemed for cash or, at the option of the Issuer and after a one year holding period (including any period during which the LTIP Units were held), settled in shares of the Issuer's Class A common stock on a one-for-one basis.