NexPoint Real Estate Finance, Inc. (NREF) Announces Resignation of CFO and Appointment of Successor

On November 8, 2024, NexPoint Real Estate Finance, Inc. (NREF) filed an 8-K form with the Securities and Exchange Commission (SEC) regarding the departure of Brian Mitts, the Chief Financial Officer (CFO), Executive Vice President-Finance, Secretary, and Treasurer of the company. Mitts tendered his resignation, which will be effective as of 11:59 p.m. Central Time on December 31, 2024. Despite stepping down from his officer roles, Mitts will maintain his position as a member of NREF’s Board of Directors.

Following Mitts’ resignation, the board appointed Paul Richards as the new CFO, Executive Vice President-Finance, Assistant Secretary, and Treasurer, effective from January 1, 2025. Richards, who is 36 years old, has been serving as the VP of Originations and Investments at NREF since February 2020.

In connection with Mitts’ departure, NREF, NexPoint Real Estate Advisors VII, L.P., NexPoint Advisors, L.P. (“NREA”), and other affiliated entities entered into a Separation Agreement with Mitts on November 11, 2024. Per the agreement, NREA will provide separation payments totaling $200,000 to Mitts on two separate dates in 2025 and subsidize his COBRA premium for twelve months.

Additionally, award agreements related to restricted stock units granted to Mitts by NREF and other affiliated companies were amended to adjust vesting conditions based on Mitts’ service as a director. The Separation Agreement includes mutual non-disparagement provisions and a release of claims by both parties.

Apart from the CFO transition, the Board also appointed David Willmore as NREF’s Chief Accounting Officer, Assistant Secretary, and Assistant Treasurer, effective from January 1, 2025. Willmore, aged 39, has been serving as the VP of Finance at NREF since February 2020.

Both Richards and Willmore have no direct or indirect material interest in transactions requiring disclosure under Regulation S-K. The company has categorized itself as an emerging growth company under SEC guidelines.

The full details of the Separation Agreement and other relevant information can be found in the official filing submitted to the SEC on November 8, 2024. This change in leadership marks a significant shift within NREF’s executive team, aligning with the company’s strategic goals moving forward.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read NexPoint Real Estate Finance’s 8K filing here.

About NexPoint Real Estate Finance

NexPoint Real Estate Finance, Inc operates as a commercial mortgage real estate investment trust in the United States. It focuses on originating, structuring, and investing in first-lien mortgage loans, mezzanine loans, preferred equity, convertible notes, multifamily properties, and common equity investments, as well as multifamily and single-family rental commercial mortgage-backed securities securitizations, multifamily structured credit risk notes, and mortgage-backed securities or target assets.