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NexPoint Raises Concerns About UDF IV Board Allowing Millions in Management Fees to Enrich Former UDF Executives Imprisoned for Fraud

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Current Trustees Continue to Protect the Interests of the Board, UDF Management, and the Largest Borrower at Shareholders’ ExpenseShareholders Should Not Be Misled by UDF IV’s Ongoing Attempts to Deflect from the Board’s Egregious Actions

DALLAS, Nov. 6, 2024 /PRNewswire/ — NexPoint Real Estate Opportunities, LLC (together with its affiliates “NexPoint”) today provided an update on United Development Funding IV (“UDF IV” or the “Company”). NexPoint notes that UDF IV’s current Board of Trustees continues to deflect attention from the Board’s egregious actions and the Company’s underperformance by pushing false and misleading narratives about NexPoint. Shareholders should instead focus on the ongoing conduct of this Board and recognize the need for wholesale change; otherwise, questionable actions by UDF IV management, the Board, and the Company’s largest borrower, Mehrdad Moayedi, are unlikely to be investigated and remedied.

NexPoint nominated four highly regarded real estate and finance industry professionals to replace the current independent Trustees on the UDF IV Board. These accomplished individuals bring relevant industry expertise and governance experience at both public and private companies to their candidacy. If elected, NexPoint’s nominees are committed to working on behalf of shareholders to enact critical change, establish accountability and transparency, and recover value and liquidity at UDF IV. This includes thoroughly investigating any improper transactions and, where available, pursuing recoveries of misused funds for the benefit of all shareholders.

Shareholders Should Note Major Red Flags from Current Board of Trustees:

UDF IV’s current Board of Trustees does not want you to know that the management fees it continues to approve for UDF’s advisor—over $10 million in the last two years—enrich former UDF executives who are currently in federal prison for committing fraud against UDF IV shareholders. Not only do the convicted felons inordinately profit from UDF IV’s advisory agreement, but the advisory fees appear even more unfounded considering the deficiencies in portfolio management (one of the advisor’s primary responsibilities) that were revealed in the Company’s latest financials. Meanwhile, shareholders suffer without liquidity, brought on by years of disclosure violations that led Nasdaq to delist the stock and the SEC to revoke the Company’s registration altogether. This all occurred under the oversight of three of the four trustees who are up for election.

UDF IV’s Board of Trustees has permitted the Company to use shareholder funds for former executives’ personal disgorgement and legal defenses. Upon information and belief, the Company advanced legal fees totaling more than $65 million, and a significant portion of those advancements may have been improper. For example, the current Trustees authorized the Company to pay millions in legal fees and indemnification expenses for former management’s criminal trial, despite the clear language in the advisory agreement prohibiting indemnification when the expense arises from “an alleged violation of federal or state securities law.” Prior to that, the Board allowed UDF IV to pay former executives’ SEC disgorgements (totaling $7.2 million with pre-judgment interest), which were obligations of the individuals, not the Company.

UDF IV, under the Board of Trustees’ oversight, has permitted the Company to amass over 98% of UDF’s unaffiliated debt with a single borrower, Mehrdad Moayedi and affiliates of Centurion American, a developer with a history of failed projects. Inexplicably, the Company appears to have released Mr. Moayedi from significant personal guarantee liability.

These red flags underscore the urgent need for shareholders to establish proper oversight at UDF IV by replacing the Board of Trustees with NexPoint’s highly qualified nominees: Paul S. Broaddus, Edward N. Constantino, John A. Good, and Julie Silcock.

Shareholders Should Not Be Fooled by UDF IV’s Expensive Misinformation Campaign, Which Defends and Protects the Board and Management at Shareholders’ Expense:

UDF continues to use shareholder funds to spread misleading information about NexPoint to divert shareholder attention from the Board and management’s own actions and abysmal performance.

In its attacks on NexPoint, UDF IV mischaracterizes the performance of one NexPoint-advised REIT, NexPoint Diversified Real Estate Trust (NYSE:NXDT), conveying returns over a self-serving timeframe without including dividends. NexPoint manages real estate assets in many different investment vehicles, including several public and private REITs, registered funds, and tax-advantaged vehicles, among other structures. As responsible stewards of invested capital, NexPoint has a track record of maintaining robust compliance practices and generating meaningful dividends and capital appreciation for its shareholders.

Other established public REITs at NexPoint include NexPoint Residential Trust, Inc. (NYSE:NXRT) and NexPoint Real Estate Finance, Inc. (NYSE:NREF), which delivered total returns of 62.3% and 18.2% respectively over the last year.1

Meanwhile, from the time of UDF IV’s initial listing to when SEC revoked its registration, UDF IV’s share price suffered a -93% decline. It is no wonder the Company wants to divert shareholders’ attention away from that performance. Ignoring this severe decline, UDF IV touts “shareholder returns” that management and the Board allegedly delivered. The cash distributions they cite in support of this are 100% return of capital and should be more cause for concern than celebration.

UDF IV’s communications also criticize management incentives at NXDT, exclusively referencing stock grants awarded under a long-term incentive plan that align the interests of management with shareholders. Such alignment has been markedly absent from UDF IV. Further, UDF IV makes this misleading claim without acknowledging how members of the former management team—who are currently in prison for defrauding shareholders—are getting richly rewarded though UDF IV’s own advisory agreement, which directed over $10 million in fees to the advisor over the last two years.

Finally, UDF IV’s attempts to link unrelated bankruptcy proceedings to this election underscore the lengths the Board and management will go to further entrench themselves and distract from primary issues.

The 2019 bankruptcy proceedings of former affiliate Highland Capital are completely unrelated to NexPoint’s investment in UDF IV and irrelevant to current efforts to drive accountability at the Company. NexPoint’s efforts are focused on electing qualified, independent candidates to the UDF IV Board of Trustees who would represent the interests of all shareholders.

Not only are the matters irrelevant, UDF IV’s account of them mischaracterizes the actions of NexPoint founder James Dondero in these proceedings, promoting misleading claims made by parties in the case who used the process to turn a reorganization of a solvent estate into a liquidation, wasting millions in professional fees and unduly benefitting certain insiders while harming other stakeholders. (In one instance, Highland bankruptcy professionals shirked commitments to pay routine bonuses to rank-and-file employees, prompting Mr. Dondero to use millions of his own personal funds to satisfy these payments.) The improper liquidation forced Mr. Dondero to pursue legal remedies to enforce his and other parties’ rights, minimize waste on unnecessary professional fees and expenses, and otherwise recover funds in the bankruptcy process. Knowledgeable parties involved in the bankruptcy calculate that as much as $600 million was squandered that could have been used to pay creditors in full and permit Highland to emerge as a going concern. As such, interested parties continue to raise concerns that the Chief Restructuring Officer in the case has presided over immense value destruction and enriched himself and undisclosed business relationships at the expense of stakeholders.

(Details of bad acts by: (i) James Seery; and (ii) GCM Grovesnor (NASDAQ:GCMG), Stonehill Capital Management, LLC, and Farallon Capital Management, LLC.)

Mr. Dondero’s actions are in pursuit of accountability for this mismanagement of the estate and enforcement of his and other stakeholders’ rights within the bankruptcy proceedings.

While NexPoint seeks to correct UDF’s misleading accounts of these matters, the bankruptcy proceedings and the legal actions surrounding them have no bearing on NexPoint’s efforts to restore accountability at UDF IV. NexPoint urges shareholders not to let the Company’s misinformation and deception tactics distract from the severe issues at UDF IV. Electing new Trustees to the UDF IV Board is the only way to enact change and effectively address those issues that truly matter for shareholders and directly affect their investment.

Vote for Change by Electing NexPoint’s Nominees to UDF IV’s Board of Trustees:

The UDF IV Board’s red flags highlight the need for change to prevent further value destruction. Today, in addition to the current Trustees’ track record, shareholders should be concerned about the amount of time and money the Board is spending to hide the truth and stay in power.

Shareholders can vote TODAY to replace the current Trustees, voting FOR NexPoint’s nominees using the GREEN proxy card. Follow the voting instructions on your green proxy materials to submit your vote.

If you have already submitted a white proxy card, it’s not too late to change your vote. Only the last date proxy card submitted will be counted.

For detailed voting instructions, visit: udfaccountability.com/voting-information

For voting assistance contact Okapi Partners at: info@okapipartners.com or (877) 869-0171

IMPORTANT INFORMATION

NexPoint Real Estate Opportunities, LLC (“NexPoint”) has delivered a proxy statement with respect to its solicitation of proxies for nominees to be elected to the United Development Funding IV (“UDF IV”) Board of Trustees at the Annual Meeting of Shareholders of UDF IV. The date for the Annual Meeting has not yet been set at this time.

INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE NEXPOINT PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) IN ITS ENTIRETY AS IT CONTAINS IMPORTANT INFORMATION ABOUT THE PROXY SOLICITATION.

Copies of the documents are available free of charge from NexPoint by accessing the website www.udfaccountability.com.

NexPoint, its affiliates, their directors and executive officers and other members of management and employees may be participants (collectively “Participants”) in the solicitation of proxies by NexPoint. Information about NexPoint’s nominees to the UDF IV Board of Trustees and information regarding the direct or indirect interests in UDF IV, by security holdings or otherwise, of NexPoint, the other Participants and NexPoint’s nominees will be available in the proxy statement. NexPoint’s disclosure of any security holdings will be based on information made available to NexPoint by such Participants and nominees. UDF IV is no longer subject to the reporting requirements of the Securities Exchange Act of 1934, as amended. Consequently, NexPoint’s knowledge of significant security holders of UDF IV and as to UDF IV itself is limited.

Past performance does not guarantee future results. Performance during time periods shown is limited and may not reflect the performance in different economic and market cycles. There can be no assurance that similar performance will be experienced.

CONTACT INFORMATION

Media Contact: nexpointteam@reevemark.com

Investor Relations: ir@nexpoint.com

___________________________

1 Based on cumulative dividends and stock price as of 10/31/2024. Based on stock price only, NXRT and NREF increased 54.3% and 2.0% during this period respectively.

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SOURCE NexPoint Advisors, L.P.

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Global Security & Technology Summit Unveils Month-Long Program of Activities Ahead of December Event

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RIYADH, Saudi Arabia, Oct. 24, 2026 /PRNewswire/ — The Organizing Committee of the Global Security & Technology Summit (GSTS) held an introductory session today at the Ministry of Interior’s headquarters in Riyadh, bringing together representatives from the government, private, and nonprofit sectors to introduce the program of activities leading up to the summit. The upcoming summit will be held in Riyadh under the patronage of HRH Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, under the supervision of HRH Prince Abdulaziz bin Saud bin Naif bin Abdulaziz Al Saud, Minister of Interior, and organized by the Ministry of Interior in cooperation with Tuwaiq Academy.

During the session, the Organizing Committee presented the comprehensive GSTS program, comprising three key components: GSTS Month, running from November 1 to 30, 2026; the Global Security & Innovation Fair (SAIF), taking place from November 24 to 26, 2026; and the main Summit, scheduled for December 18 to 20, 2026, in Riyadh. Together, these events form an integrated program designed to advance security and technology innovation, strengthen national capabilities, and foster international cooperation.

GSTS Month will feature working groups, boot camps, training programs, knowledge-sharing sessions, and technical workshops across Saudi Arabia’s 13 administrative regions, delivered both in person and remotely in collaboration with specialized entities. The month-long program aims to develop national capabilities, identify emerging talent, enrich knowledge-sharing opportunities, and equip professionals with the knowledge and skills needed to develop innovative solutions to future security and technology challenges.

The main Summit will bring together global leaders, decision-makers, experts, and innovators to explore the future of security and technology, promote the integration of advanced technologies within the security sector, strengthen national capabilities, support innovation, and foster international cooperation, further positioning the Kingdom as a global hub for security and technology.

Showcasing the latest technological breakthroughs and security solutions, the summit will bring together government entities, private sector organizations, academic institutions, and research centers to facilitate knowledge exchange and collaboration across key fields, including cybersecurity, artificial intelligence (AI), the Internet of Things (IoT), smart security solutions, emerging technologies, and crisis management. The program will also feature main sessions, specialized discussions, and interactive exhibitions. Registration is available at gsts.sa.

Advisor to HRH the Minister of Interior and Chairman of the GSTS Organizing Committee, Ahmed Altowayan, stated that the summit builds on Saudi Arabia’s efforts to establish an advanced security and technology ecosystem focused on knowledge and innovation, keeping pace with rapid developments and future challenges.

Mr. Altowayan noted that the summit is a global platform for strengthening cooperation and exchanging expertise, anticipating future developments in security and technology, and developing strategic partnerships and innovative solutions that enhance the efficiency and readiness of security systems.

Vice Chairman of the GSTS Organizing Committee, Eng. Abdulaziz Alhammadi, said that the summit will offer a range of integrated programs and activities focused on enhancing national skills, encouraging innovation, and supporting international cooperation.

He added that GSTS Month will help build national capabilities, discover talent, and develop skills, with SAIF providing a platform for innovators and researchers from around the world to showcase leading technological solutions, while the main Summit will bring together leaders and experts to discuss the future of security and technology and explore new strategic partnership opportunities.

SAIF will take place at the Riyadh International Convention & Exhibition Center, bringing together innovators, researchers, technology talents, and industry experts from around the world to showcase promising innovations and projects across 14 fields of technology and innovation. The fair will provide opportunities to engage with project owners, including students, graduates, and entrepreneurs, and explore the different stages of innovation development through interactive zones, panel discussions on emerging security and innovation trends, and knowledge-sharing workshops led by specialists. Visitor registration is open to participants from within and outside the Kingdom through saifair.sa.

The introductory session also featured contributions from representatives of government, private, and nonprofit sector entities, alongside members of the media. Discussions focused on developing national capabilities in security and technology, strengthening students’ technical expertise, translating scientific research into practical solutions, and supporting Saudi companies in developing security and technology solutions and advancing digital transformation.

Organized by the Ministry of Interior in cooperation with Tuwaiq Academy, GSTS is produced by Tahaluf, with the Ministry of Education serving as Strategic Scientific Partner, Tahakom as Founding Partner, and Elm as Principal Partner.

Registration for participants from within and outside the Kingdom is available at gsts.sa.

Click here to view the media kit. 

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Axon Announces Body 5: Next-Generation Camera Built for the AI Era

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Axon Body 5 delivers 25x the AI processing power of earlier-generation cameras, with upgraded connectivity, audio and battery life to support real-time situational awareness in the field

SCOTTSDALE, Ariz., Oct. 24, 2026 /PRNewswire/ — Axon (Nasdaq: AXON), the global leader in public safety technology, today announced Axon Body 5, its newest body-worn camera designed to bring more powerful intelligence, connectivity and real-time support directly to officers in the field.

For years, Axon body cameras have helped agencies capture critical evidence and create greater transparency. Body 5 is built to help officers during the call, with information, assistance and backup on the spot.

“Officers shouldn’t have to choose between getting information and watching the scene. With Axon Body 5, they don’t,” said Rick Smith, Axon Founder and CEO. “They capture a license or document with the camera, keep their hands free and eyes up, and get information faster than writing it down and calling it in by radio. An officer fully engaged with the person in front of them, not down at a notepad, is a safer officer and a better-served community.”

Axon Body 5: Built for the AI Era

Built from the ground up for the AI era, Axon Body 5 delivers 25x the AI processing power than earlier generation Axon body cameras, alongside advancements in connectivity, audio, video and battery life. Together, these upgrades give the camera the physical power to run smarter AI features — both today and as new AI tools are developed in the future — while also making it more dependable for officers to use every day. 

For the first time, Axon is also introducing two versions of its latest flagship camera: Axon Body 5 and Axon Body 5 Pro.

Both models feature several key advancements, including:

25x more processing power for AI: A powerful new computing architecture creates the capacity to support current and future AI features directly on the body camera.Enhanced video: Improved video captures clearer evidence across challenging environments, including better low-light performance.Improved connectivity: Seamless connectivity in urban and remote environments – and more precise location capability – helps officers, cameras and remote support teams stay connected when timely information matters most.Longer battery life: 20% more battery life than the previous generation helps keep the camera ready and connected throughout an officer’s shift.

The Axon Body 5 Pro will continue to gain new AI capabilities as they become available, growing along with the AI Era Plan. Additionally, new hardware features include:

A near-focus camera: An additional dedicated camera lens lets officers scan driver’s licenses to check status and search for wants or warrants in seconds, without returning to the patrol vehicle, with relevant information sent to Axon Fusus to support real-time operations.Front-facing speakers: Four additional speakers project even more powerful audio toward the person an officer is speaking with, helping real-time translations from Axon Assistant carry more clearly over heavy traffic or crowd noise. Additional memory: Extra space lets the camera run several AI tools at once, helping officers stay better informed and work faster.

Bringing More of Axon’s AI Era Into the Field

Axon Body 5 helps officers get more out of the Axon AI Era Plan by bringing smart tools right to the scene. Axon’s portfolio already supports public safety professionals across a growing range of tasks. For example, Draft One helps officers turn body-camera audio into high-quality report drafts and Axon Assistant provides voice-based information access and real-time translation.

Increasingly, Axon is also bringing AI into real-time operations.

Axon Guardian is a new category of AI features within the AI Era Plan that was specifically created to work with an officer’s field-based devices – starting with body cameras and in-car cameras – to improve safety. Guardian is designed to flag potential risks as situations unfold and create alerts when additional attention may be needed. Two of the first features include:

Escalation Detection: When an Axon Body 4 or Axon Body 5 camera is activated and recording, Guardian has the ability to detect potential conflicts in real time and create an alert in Axon Fusus. A human reviews the livestream and decides if additional support or action is needed.Approach Alert: When active on Axon Fleet 3, Guardian can detect if the door of a stopped vehicle opens and alert the officer through the in-car display and their body-worn camera.

Combined, Axon Body 5 and the expanding AI Era portfolio demonstrate the importance of AI as a critical resource to assist public safety professionals before, during and after an incident — reducing administrative burden, improving situational awareness and helping protect more lives.

Innovating Responsibly

Axon’s Responsible Innovation framework guides the development of all of its products. Designed with this in mind, Axon Body 5 and Guardian prioritize human oversight and maintain agency control over data. As a key part of the responsible innovation process, Axon’s independent Ethics and Equity Advisory Council was created to help responsibly develop and deploy new technologies with transparency, while aligning with community expectations.

General availability dates for Axon Body 5 and Axon Guardian will be announced soon. Product features and capabilities vary by configuration. For more information on Axon’s current products and services: Axon Product Catalog – Axon.com.

About Axon
Axon (Nasdaq: AXON) is the global leader in public safety technology supporting state, local, federal and international public safety agencies with technology designed to Protect Life. Complementing its mission, Axon’s growing Enterprise market focuses on protecting critical infrastructure and frontline workers across multiple industries including corporate security, hospitality, retail and healthcare. Founder-led since 1993, Axon builds products with transparency and responsibility. From TASER energy devices to today’s connected network of hardware – including cameras, drones, and robotics – cloud software, sensors, and AI-tools, the Axon ecosystem helps seamlessly protect people and places when it matters most. To ensure these technologies align with community expectations, Axon’s independent Ethics & Equity Advisory Council guides the ethical, inclusive, and accountable design of its products and services. Learn more about the EEAC and Axon’s Responsible Innovation framework at Axon Responsibility. 

Non-Axon trademarks are the property of their respective owners. Axon, TASER and the Delta Logo are trademarks of Axon Enterprise, Inc., some of which are registered in the US and other countries. For more information, visit www.axon.com/legal. All rights reserved.

Please visit https://investor.axon.com and https://www.axon.com/newsroom for more information.

Media Contact:
Kate MacKinnon
Vice President, Communications
press@axon.com

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In HelloNation, Custom Fabrication Expert Mark Coyle Explains a Common Mistake in Custom Aluminum Design

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The article explains why smart geometry, not thicker walls, creates stronger, more efficient aluminum components.

ROCHESTER, N.Y., Oct. 24, 2026 /PRNewswire/ — What early design choice causes many custom aluminum projects to become heavier, costlier, or harder to manufacture? That question is addressed in a HelloNation article featuring insights from Custom Fabrication Expert Mark Coyle of American Custom Metals, Inc. in Rochester, New York, that outlines how misunderstanding aluminum behavior leads designers to rely on thick walls instead of stronger geometry.

The article begins by explaining that many people assume thicker walls automatically make aluminum parts stronger. It notes that aluminum does not respond to wall thickness the way steel does. Instead, its performance is shaped by how the metal flows through the extrusion die. The article states that custom aluminum design is more effective when profiles use ribs, chambers, and flanges to create stiffness without adding unnecessary weight. This guidance helps readers understand why adding material often increases cost without improving strength.

The article also highlights that thicker walls change how aluminum moves during extrusion. When heavy areas fill more slowly, the metal cools unevenly and can develop stress that only appears later. The HelloNation piece explains that well-balanced geometry keeps extrusion smooth and predictable. This consistency makes it easier to maintain dimensional accuracy across long production runs. By focusing on geometry, custom aluminum design avoids the problems that come with slow extrusion speeds and uneven cooling.

Another insight in the article centers on how ribs and internal supports influence stability. It describes how a thin wall supported by a properly placed rib often performs better than a thick wall with no reinforcement. This happens because the rib helps distribute load, improve stiffness, and guide the aluminum as it cools. The article explains that this structural approach makes custom aluminum design more efficient and gives designers more control over how the final part behaves under pressure.

The article also shows why early collaboration between designer and fabricator prevents costly changes. It states that a fabricator familiar with extrusion can catch potential issues before a die is built. Small adjustments to corners or transitions can remove weak points or improve metal flow. The article notes that this teamwork keeps the design aligned with real-world production. By working together early, both sides reduce the risk of redesigning the die after the first test run.

Machining is another area where the article explains how wall thickness affects performance. Features such as deep pockets or sharp internal angles may require slow feed rates or special tooling. When walls are thicker than needed, those areas can become difficult to machine cleanly. The article states that thoughtful custom aluminum design makes machining more predictable. Small changes, such as adding radiused edges or sizing features to match standard tools, help shorten cycle times and prevent tool wear.

Thermal behavior receives detailed attention as well. The article explains that aluminum retains heat differently depending on the mass of each section. Thicker walls hold heat longer, which increases the chance of distortion during extrusion, machining, or finishing. When a design uses geometry to create strength, the material cools more evenly. This reduces warping and helps long profiles stay aligned. The article notes that stable cooling is important for components that require a precise fit and consistent shape throughout an entire production run.

Cost is also a key topic in the article. It states that heavier profiles increase material use, extrusion time, and tooling needs. A custom aluminum design that relies on geometry instead of mass lowers material consumption and keeps the fabrication process efficient. The article explains that lighter parts are easier to handle, ship, and assemble. This saves money across multiple stages of production and supports long-term manufacturing efficiency.

The article also notes that smart custom aluminum design creates profiles that behave predictably during extrusion and machining. Smooth transitions, balanced wall dimensions, and structural features help reduce the chance of distortion or dimensional drift. These elements also lower scrap rates and support reliable performance. By using geometry instead of excess material, designers build parts that maintain strength without compromising manufacturability.

As the article concludes, it emphasizes that avoiding thick walls is one of the best ways to improve performance and lower cost. It states that the most dependable custom aluminum components come from designs that use structural features to strengthen the profile. When designers understand how aluminum behaves at each stage of extrusion and machining, they create parts that are strong, efficient, and consistent from batch to batch. This approach turns custom aluminum design into a predictable process rather than a series of uncertain adjustments.

A Common Mistake in Custom Aluminum Design features insights from Mark Coyle, Custom Fabrication Expert of Rochester, NY, in HelloNation.

About HelloNation
HelloNation is America’s Good News Network, a premier media platform built on the idea that good news travels faster when real people tell real stories. Through its community-focused publications and innovative “edvertising” approach, HelloNation delivers content that informs, inspires, and spotlights the leaders making a meaningful impact in their communities.

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