Bluerock Issues Annual Equity Incentive Grants to Management

Bluerock Homes Trust, Inc. is taking steps to strengthen alignment between its leadership team and shareholders. On April 23, 2025, the company issued 40,944 long-term incentive plan units (LTIP Units) through its operating partnership, Bluerock Residential Holdings, L.P., as part of its annual equity awards.

These grants reward services provided during the 2024 fiscal year and are designed to support long-term performance. They were made under Bluerock’s 2022 Equity Incentive Plan for Individuals and were allocated to members of the executive management team and other key personnel. The company issued the awards under exemptions from SEC registration, avoiding any public offering or solicitation.

Vesting and Conversion Details

Vesting is paced to maintain strong incentives over time:

• One-third of the LTIP Units will vest on April 23, 2026.


• The remaining two-thirds will vest evenly over the following two years, beginning April 1, 2026.

Once vested and after achieving capital account equivalency, holders can convert the LTIP Units into limited partnership interests. From there, they can redeem those interests either for cash or for shares of Class A Common Stock, subject to a one-year holding period.

Distributions and Alignment with Shareholders

Distributions to LTIP holders start immediately. From the grant date forward, holders will receive distributions at the same time as holders of Bluerock’s Class A Common Stock, whether or not their units have vested.

By structuring the grants this way, Bluerock Homes Trust ensures that the interests of its management team remain tied to the company’s overall performance, creating a clear link between leadership decisions and shareholder outcomes.