Jordan B. Ruddy - May 17, 2023 Form 4 Insider Report for Bluerock Homes Trust, Inc. (BHM)

Role: President
Signature: /s/ Christopher J. Vohs, Attorney-In-Fact
Stock symbol: BHM
Transactions as of: May 17, 2023
Transactions value $: $0
Form type: 4
Date filed: 5/19/2023, 04:00 PM
Previous filing: Jan 4, 2023
Next filing: Aug 16, 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		+3.57K			3.57K	May 17, 2023	Class A Common Stock	3.57K		Direct	F1

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

Explanation of Responses:

Id	Content
F1	Represents LTIP Units issued in partial satisfaction of the Issuer's Base Management Fee obligation to Bluerock Homes Manager, LLC (the "Manager") for the first quarter of 2023 and in satisfaction of the Manager's reimbursement obligation to its affiliate, Bluerock Real Estate Holdings, LLC ("BREH"), for a portion of the salary payable by BREH to the Reporting Person for the quarter ending March 31, 2023 for services provided to the Manager in the Reporting Person's capacity as President thereof. These LTIP Units were fully vested upon issuance, and may convert to 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 LTIP Units issued in partial satisfaction of the Issuer's Base Management Fee obligation to Bluerock Homes Manager, LLC (the "Manager") for the first quarter of 2023 and in satisfaction of the Manager's reimbursement obligation to its affiliate, Bluerock Real Estate Holdings, LLC ("BREH"), for a portion of the salary payable by BREH to the Reporting Person for the quarter ending March 31, 2023 for services provided to the Manager in the Reporting Person's capacity as President thereof. These LTIP Units were fully vested upon issuance, and may convert to 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.