Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-06-02

NexPoint Residential Trust, Inc. (NXRT)

Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$3,329,980
Matt McGraner total, FY2025
Executive VP and Chief Investment Officerhighest-paid officer; CEO James Dondero: $3,329,980
CEO (James Dondero) pay percentile vs peers
11:1
CEO-to-median pay ratio
95.41%
Say-on-pay support, latest vote
Companies that benchmark against NXRT
No companies currently name NXRT as a compensation peer in their most recent disclosure.

This is the complete answer, not a partial one — the list is never padded.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Matt McGraner$0$0$3,329,980$0$0$0$0$3,329,980
Executive VP and Chief Investment Officer
James Dondero003,329,98000003,329,980
President and Chairman
Paul Richards00364,5240000364,524
Chief Financial Officer, Executive VP-Finance, Treasurer and Assistant Secretary
Dennis Charles Sauter00364,5240000364,524
General Counsel and Secretary

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY20242025
Matt McGraner$3,329,980$3,452,019$3,145,434−122,039
James Dondero3,329,9803,452,0193,271,489−122,039
Paul Richards364,524
Dennis Charles Sauter364,524

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Dr. Arthur LafferDirector2026-05-22D3,429$0$0Derivative, Class A CommonForm 4 ↗
Edward ConstantinoDirector2026-05-22A3,429CommonForm 4 ↗
Brian MittsDirector2026-05-22D3,42900Derivative, Class A CommonForm 4 ↗
James DonderoDirector2026-05-22D19,57700Derivative, Class A CommonForm 4 ↗
Dr. Carol SwainDirector2026-05-22A3,429CommonForm 4 ↗
Scott KavanaughDirector2026-05-22A3,429CommonForm 4 ↗
Brian MittsDirector2026-05-22A3,429CommonForm 4 ↗
Dennis Charles SauterSee Remarks2026-05-22A2,143CommonForm 4 ↗
Dr. Carol SwainDirector2026-05-22D1,714CommonForm 4 ↗
Catherine WoodDirector2026-05-22D3,42900Derivative, Class A CommonForm 4 ↗
Edward ConstantinoDirector2026-05-22D1,714CommonForm 4 ↗
Edward ConstantinoDirector2026-05-22D3,42900Derivative, Class A CommonForm 4 ↗
Paul RichardsSee Remarks2026-05-22D2,14300Derivative, Class A CommonForm 4 ↗
Matt McGranerSee Remarks2026-05-22D19,57700Derivative, Class A CommonForm 4 ↗
Paul RichardsSee Remarks2026-05-22D1,0243030,454CommonForm 4 ↗
Scott KavanaughDirector2026-05-22D3,42900Derivative, Class A CommonForm 4 ↗
Dr. Carol SwainDirector2026-05-22D3,42900Derivative, Class A CommonForm 4 ↗
Catherine WoodDirector2026-05-22A3,429CommonForm 4 ↗
Brian MittsDirector2026-05-22D1,714CommonForm 4 ↗
Dennis Charles SauterSee Remarks2026-05-22D5583016,595CommonForm 4 ↗
Dennis Charles SauterSee Remarks2026-05-22D2,14300Derivative, Class A CommonForm 4 ↗
James DonderoDirector2026-05-22A19,577CommonForm 4 ↗
Dr. Arthur LafferDirector2026-05-22A3,429CommonForm 4 ↗
Matt McGranerSee Remarks2026-05-22A19,577CommonForm 4 ↗
Paul RichardsSee Remarks2026-05-22A2,143CommonForm 4 ↗
Matt McGranerSee Remarks2026-05-22D8,24230245,117CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Paul RichardsRSU2025-05-2210,715$364,524
Matt McGranerRSU2025-05-2297,8833,329,980
James DonderoRSU2025-05-2297,8833,329,980
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Paul Richards$364,524$0$00.0%
Matt McGraner3,329,980000.0%
James Dondero3,329,980000.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
James DonderoRSU266,360$8,017,436
Paul RichardsRSU20,822626,742
Matt McGranerRSU267,6958,057,620
Dennis Charles SauterRSU30,268911,067
05

Incentive-plan design — the Compensation Discussion & Analysis

We are externally managed by our Adviser through the Advisory Agreement. Our Adviser conducts substantially all of our operations and provides asset management services for our real estate investments. Because our Advisory Agreement provides that our Adviser is responsible for managing our affairs, our named executive officers, who are employees of our Adviser, have not received, nor do we expect they will in the future receive, any cash compensation from us for their services as our named executive officers.

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultantnot disclosed
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-06-0218,805,362904,0231,017,41595.41%Passed
20252025-05-2018,595,2351,179,98644,98094.03%Passed
20242024-05-0718,585,808750,05954,14096.12%Passed
20232023-05-0919,554,372973,64255,85495.26%Passed
20222022-05-1014,560,0636,128,91551,69770.38%Passed
20212021-05-1113,478,4166,548,85455,34967.3%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-06-0295.41%a
20252025-05-2094.03%b
20242024-05-0796.12%c

a. Voting standard not stated in the filing.

b. Approved under the standard stated in the filing — “2 - Advisory Vote to Approve the Compensation of Our Named Executive Officers Affirmative vote of a majority of the votes cast No Abstentions and broker non-votes are not considered votes cast and will have no effect No.”.

c. Approved under the standard stated in the filing — “2 - Advisory Vote to Approve the Compensation of Our Named Executive Officers Affirmative vote of a majority of the votes cast No Abstentions and broker non-votes are not considered votes cast and will have no effect No.”.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)11 : 1
CEO total compensation$3,329,980
Median employee compensation$303,338
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Scott KavanaughIndependent · Lead Independent Director · Audit · Compensation · Nominating and Corporate Governance (Chair)$37,500$116,655$0$0$0$154,155
Edward ConstantinoIndependent · Audit (Chair) · Compensation · Nominating and Corporate Governance35,000116,655000151,655
Dr. Arthur LafferIndependent · Audit · Compensation (Chair) · Nominating and Corporate Governance27,500116,655000144,155
Dr. Carol SwainIndependent · Audit · Compensation · Nominating and Corporate Governance20,000116,655000136,655
Brian MittsNot independent20,000116,655000136,655
Catherine WoodIndependent · Audit · Compensation · Nominating and Corporate Governance20,000116,655000136,655
James DonderoEmployee director · Board Chair00000
09

Board fee structure and ownership guideline

Annual cash retainer$20,000
Annual equity retainer$127,174
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)15,000 / 7,500 / 7,500
Stock ownership guideline
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$160,000
Equity awards (grant-date value)$699,930
All other compensation$0
Total cost of the board$859,930

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1NexPoint Residential Trust, Inc.2025James Dondero$0$3,329,980$0$0$3,329,980

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Matt McGranerDEF 14A2026-04-100001437749-26-012026Section “Summary Compensation Table” · page 36. As printed: 3,329,980. Filing ↗machine: t84 · r5 · c5 · span 355660–355669
2Section 01, James DonderoDEF 14A2026-04-100001437749-26-012026Section “Summary Compensation Table” · page 36. As printed: 3,329,980. Filing ↗machine: t84 · r1 · c5 · span 347846–347855
3Section 01, Paul RichardsDEF 14A2026-04-100001437749-26-012026Section “Summary Compensation Table” · page 36. As printed: 364,524. Filing ↗machine: t84 · r4 · c5 · span 353723–353730
4Section 01, Dennis Charles SauterDEF 14A2026-04-100001437749-26-012026Section “Summary Compensation Table” · page 36. As printed: 364,524. Filing ↗machine: t84 · r8 · c5 · span 360935–360942
5Section 03, Paul Richards RSUDEF 14A2026-04-100001437749-26-012026Section “Grants of Plan Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t87 · r2 · c5 · span 374928–374934
6Section 03, Matt McGraner RSUDEF 14A2026-04-100001437749-26-012026Section “Grants of Plan Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t84 · r5 · c5 · span 355660–355669
7Section 03, James Dondero RSUDEF 14A2026-04-100001437749-26-012026Section “Grants of Plan Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t87 · r1 · c5 · span 373142–373148
8Section 07, pay ratioDEF 14A2026-04-100001437749-26-012026Section “CEO Pay Ratio”. As printed: 11 : 1. Filing ↗machine: span 444998–445000
9Section 08, Scott KavanaughDEF 14A2026-04-100001437749-26-012026Section “Director Compensation”. As printed: 154,155. Filing ↗machine: t38 · r4 · c11 · span 226406–226413
10Section 08, Edward ConstantinoDEF 14A2026-04-100001437749-26-012026Section “Director Compensation”. As printed: 151,655. Filing ↗machine: t38 · r3 · c11 · span 224467–224474
11Section 08, Dr. Arthur LafferDEF 14A2026-04-100001437749-26-012026Section “Director Compensation”. As printed: 144,155. Filing ↗machine: t38 · r5 · c11 · span 228347–228354
12Section 08, Dr. Carol SwainDEF 14A2026-04-100001437749-26-012026Section “Director Compensation”. As printed: 136,655. Filing ↗machine: t38 · r6 · c11 · span 230286–230293
13Section 08, Brian MittsDEF 14A2026-04-100001437749-26-012026Section “Director Compensation”. As printed: 136,655. Filing ↗machine: t38 · r2 · c11 · span 222525–222532
14Section 08, Catherine WoodDEF 14A2026-04-100001437749-26-012026Section “Director Compensation”. As printed: 136,655. Filing ↗machine: t38 · r7 · c11 · span 232664–232671
15Section 08, James DonderoDEF 14A2026-04-100001437749-26-012026Section “Director Compensation”. As printed: 0. Filing ↗machine: t38 · r1 · c11 · span 220590–220597
16Section 02, Dr. Arthur Laffer 2026-05-22Form 42026-05-270001437749-26-018660Insider equity transaction reported since the proxy statement. Filing ↗
17Section 02, Edward Constantino 2026-05-22Form 42026-05-270001437749-26-018658Insider equity transaction reported since the proxy statement. Filing ↗
18Section 02, Brian Mitts 2026-05-22Form 42026-05-270001437749-26-018657Insider equity transaction reported since the proxy statement. Filing ↗
19Section 02, James Dondero 2026-05-22Form 42026-05-270001437749-26-018654Insider equity transaction reported since the proxy statement. Filing ↗
20Section 02, Dr. Carol Swain 2026-05-22Form 42026-05-270001437749-26-018661Insider equity transaction reported since the proxy statement. Filing ↗
21Section 02, Scott Kavanaugh 2026-05-22Form 42026-05-270001437749-26-018662Insider equity transaction reported since the proxy statement. Filing ↗
22Section 02, Brian Mitts 2026-05-22Form 42026-05-270001437749-26-018657Insider equity transaction reported since the proxy statement. Filing ↗
23Section 02, Dennis Charles Sauter 2026-05-22Form 42026-05-270001437749-26-018656Insider equity transaction reported since the proxy statement. Filing ↗
24Section 02, Dr. Carol Swain 2026-05-22Form 42026-05-270001437749-26-018661Insider equity transaction reported since the proxy statement. Filing ↗
25Section 02, Catherine Wood 2026-05-22Form 42026-05-270001437749-26-018659Insider equity transaction reported since the proxy statement. Filing ↗
26Section 02, Edward Constantino 2026-05-22Form 42026-05-270001437749-26-018658Insider equity transaction reported since the proxy statement. Filing ↗
27Section 02, Edward Constantino 2026-05-22Form 42026-05-270001437749-26-018658Insider equity transaction reported since the proxy statement. Filing ↗
28Section 02, Paul Richards 2026-05-22Form 42026-05-270001437749-26-018655Insider equity transaction reported since the proxy statement. Filing ↗
29Section 02, Matt McGraner 2026-05-22Form 42026-05-270001437749-26-018653Insider equity transaction reported since the proxy statement. Filing ↗
30Section 02, Paul Richards 2026-05-22Form 42026-05-270001437749-26-018655Insider equity transaction reported since the proxy statement. Filing ↗
31Section 02, Scott Kavanaugh 2026-05-22Form 42026-05-270001437749-26-018662Insider equity transaction reported since the proxy statement. Filing ↗
32Section 02, Dr. Carol Swain 2026-05-22Form 42026-05-270001437749-26-018661Insider equity transaction reported since the proxy statement. Filing ↗
33Section 02, Catherine Wood 2026-05-22Form 42026-05-270001437749-26-018659Insider equity transaction reported since the proxy statement. Filing ↗
34Section 02, Brian Mitts 2026-05-22Form 42026-05-270001437749-26-018657Insider equity transaction reported since the proxy statement. Filing ↗
35Section 02, Dennis Charles Sauter 2026-05-22Form 42026-05-270001437749-26-018656Insider equity transaction reported since the proxy statement. Filing ↗
36Section 02, Dennis Charles Sauter 2026-05-22Form 42026-05-270001437749-26-018656Insider equity transaction reported since the proxy statement. Filing ↗
37Section 02, James Dondero 2026-05-22Form 42026-05-270001437749-26-018654Insider equity transaction reported since the proxy statement. Filing ↗
38Section 02, Dr. Arthur Laffer 2026-05-22Form 42026-05-270001437749-26-018660Insider equity transaction reported since the proxy statement. Filing ↗
39Section 02, Matt McGraner 2026-05-22Form 42026-05-270001437749-26-018653Insider equity transaction reported since the proxy statement. Filing ↗
40Section 02, Paul Richards 2026-05-22Form 42026-05-270001437749-26-018655Insider equity transaction reported since the proxy statement. Filing ↗
41Section 02, Matt McGraner 2026-05-22Form 42026-05-270001437749-26-018653Insider equity transaction reported since the proxy statement. Filing ↗
42Section 06, 2026 voteForm 8-K2026-06-020001437749-26-019168Item 5.07 · say-on-pay result. As reported: 95.41% (votes for as printed: 18,805,362). Filing ↗
43Section 06, 2025 voteForm 8-K2025-05-200001437749-25-017826Item 5.07 · say-on-pay result. As reported: 94.03% (votes for as printed: 18,595,235). Filing ↗
44Section 06, 2024 voteForm 8-K2024-05-100001437749-24-016035Item 5.07 · say-on-pay result. As reported: 96.12% (votes for as printed: 18,585,808). Filing ↗
45Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
46Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
47Section 09b board cost (computed)ComputedcomputedCash 160,000 + equity 699,930 + all other 0 = 859,930, summed across the director compensation table rows.machine: formula: Σ = 859,930
48NexPoint Residential Trust, Inc. (subject), Section 10b CEO totalDEF 14A2026-04-100001437749-26-012026CEO total compensation as printed in NexPoint Residential Trust, Inc.'s own proxy. As printed: 3,329,980. Filing ↗machine: t84 · r1 · c5 · span 347846–347855