Real Estate
NexPoint Real Estate Finance Executive Compensation (FY25)
NREF · Dallas, TX · Executive and director compensation, fiscal 2022 to 2025
Data as of September 7, 2026Latest filing (8-K): June 2, 2026
63 figures on this page: 61 cited to the filing that reported them, 2 calculated from figures it prints. See the citations
The compensation disclosed runs fiscal 2022 through fiscal 2025. Separately, for fiscal 2025, the company reported 3 named executive officers, and total compensation for James Dondero, President, came to $2,161,170 in fiscal 2025. Dondero's total was 4.1% lower than the $2,253,975 reported for fiscal 2024. Shareholders supported the say-on-pay proposal with 98.7% of votes cast for or against in favor at the meeting held June 2, 2026 for fiscal 2025.
This company is not required to report a chief executive pay ratio.
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — James Dondero: $2,253,975 → $2,161,170 (4.1% lower)
Frequently asked questions
Answers drawn from the data on this page.
Who is NexPoint Real Estate Finance's chief executive and what were they paid?
Total compensation for James Dondero, President, came to $2,161,170 in fiscal 2025. Dondero's total was 4.1% lower than the $2,253,975 reported for fiscal 2024.
What was NexPoint Real Estate Finance's say-on-pay result?
Shareholders supported the say-on-pay proposal with 98.7% of votes cast for or against in favor at the meeting held June 2, 2026 for fiscal 2025.
Executive compensation
Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Matt McGraner Chief Investment Officer and Executive VP | — | — | ◇ | — | — | — | — | ◇ |
James Dondero President | — | — | ◇ | — | — | — | — | ◇ |
Matthew Goetz Former Senior VP-Investments and Asset Management Departed during or after this year | — | — | ◇ | — | — | — | — | ◇ |
Fiscal 2023
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
James Dondero President | — | — | ◇ | — | — | — | — | ◇ |
Matt McGraner Chief Investment Officer and Executive VP | — | — | ◇ | — | — | — | — | ◇ |
Matthew Goetz Former Senior VP Investments and Asset Management Departed during or after this year | — | — | ◇ | — | — | — | — | ◇ |
Brian Mitts Chief Financial Officer, Executive VP-Finance, Secretary and Treasurer | — | — | ◇ | — | — | — | — | ◇ |
Fiscal 2024
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Matt McGraner Chief Investment Officer and Executive VP | — | — | ◇ | — | — | — | — | ◇ |
James Dondero President and Chairman | — | — | ◇ | — | — | — | — | ◇ |
Brian Mitts Former Chief Financial Officer, Executive VP-Finance, Secretary and Treasurer Departed during or after this year | — | — | ◇ | — | — | — | — | ◇ |
Fiscal 2025
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
James Dondero President | — | — | ◇ | — | — | — | — | ◇ |
Matt McGraner Chief Investment Officer and Executive VP | — | — | ◇ | — | — | — | — | ◇ |
Paul Richards Chief Financial Officer, Executive VP-Finance, Assistant Secretary and Treasurer | — | — | ◇ | — | — | — | — | ◇ |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.
Equity awards granted
Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
| Officer | Award | Grant date | Threshold units | Target units | Units granted | Maximum units | Exercise price | Grant date fair value |
|---|---|---|---|---|---|---|---|---|
| James Dondero | RSU | — | — | — | — | — | — | ◇ |
| Matt McGraner | RSU | — | — | — | — | — | — | ◇ |
| Paul Richards | RSU | — | — | — | — | — | — | ◇ |
Fiscal 2022, 2023, 2024 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.
Outstanding awards
Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
| Officer | Award | Unvested units | Market value of unvested units | Exercise price | Expires |
|---|---|---|---|---|---|
| James Dondero | RSU | ◇ | ◇ | — | — |
| Paul Richards | RSU | ◇ | ◇ | — | — |
| Matt McGraner | RSU | ◇ | ◇ | — | — |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.
Director compensation
What each non-employee director was paid.
Fiscal 2025
| Director | Fees earned in cash | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|
Scott Kavanaugh Lead independent director | ◇ | ◇ | — | — | — | — | ◇ |
Edward Constantino | ◇ | ◇ | — | — | — | — | ◇ |
Dr. Arthur Laffer | ◇ | ◇ | — | — | — | — | ◇ |
Dr. Carol Swain | ◇ | ◇ | — | — | — | — | ◇ |
Catherine Wood | ◇ | ◇ | — | — | — | — | ◇ |
Brian Mitts | ◇ | ◇ | — | — | — | — | ◇ |
James Dondero served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.
Director fee schedule
The standing retainers and premiums the board pays, as published.
| Lead independent director premium | ◇ |
| Audit committee chair | ◇ |
| Compensation committee chair | ◇ |
| Nominating and governance chair | ◇ |
Disclosed peer group
The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Say-on-pay history
Shareholder support for the compensation program, by year.
| Year | Meeting | Support | Votes for | Votes against | Abstentions |
|---|---|---|---|---|---|
| 2025 | June 2, 2026 | = | ◇ | ◇ | ◇ |
| 2022 | — | = | ◇ | — | — |
What this page does not include
Everything above is a fact NexPoint Real Estate Finance disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion IntelligenceAdviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Velarion IntelligenceCitations
Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
63 figures on this page: 61 cited to the filing that reported them, 2 calculated from figures it prints.
61 cited to the filing
2 calculated from the filing
Documents cited
- 0001437749-26-019167Item 5.07 Submission of Matters to a Vote of Security Holders
- 0001437749-26-012765Director Compensation Table · EXECUTIVE COMPENSATION & · Outstanding Equity Awards at Fiscal Year-End · Summary Compensation Table · and 1 more section
- 0001437749-25-010694Summary Compensation Table
- 0001437749-24-011776Summary Compensation Table
- 0001437749-23-009999Summary Compensation Table
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “NexPoint Real Estate Finance executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/NREF (accessed 2026).
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Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
author = {{Velarion Company Intelligence}},
title = {Velarion database: executive and board compensation data},
year = {2026},
version = {2026Q3},
doi = {10.5281/zenodo.22283854},
publisher = {Zenodo},
url = {https://doi.org/10.5281/zenodo.22283854}
}