Redwood Trust director granted deferred stock units

HANSEN DOUGLAS B reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

HANSEN DOUGLAS B reported acquisition or exercise transactions in this Form 4 filing.

Redwood Trust director Douglas B. Hansen received a compensation grant of deferred stock units. On the grant date, he was awarded 24,809 deferred stock units tied to Redwood Trust common stock at a fair market value of $5.24 per share. The units are 100% vested immediately but are subject to a minimum mandatory holding period, with shares to be delivered under his deferral election and not before May 20, 2029. Following this grant, he holds 24,809 deferred stock units directly, with no expiration date applicable to these units.

Insider Trade Summary

Grant/Award: 24,809 shares

Grant/Award 1 txn

Insider HANSEN DOUGLAS B

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Deferred Stock Units	24,809	$0.00	$0.00

Holdings After Transaction: Deferred Stock Units — 24,809 contracts (Direct)

Footnotes (5)

1. F1. Represents fair market value RWT common stock on the grant date under the 2014 Incentive Award Plan.
2. F2. This transaction relates to the grant of Deferred Stock Units.
3. F3. 100% vested at grant.
4. F4. Shares are subject to a minimum mandatory holding period and will be delivered to the Participant at the time provided in the Deferral Election but no sooner than May 20, 2029.
5. F5. No expiration date is applicable to deferred stock units.

Key Figures

Deferred stock units granted: 24,809 units Underlying common stock: 24,809 shares Fair market value at grant: $5.24 per share +3 more

6 metrics

Deferred stock units granted 24,809 units Award to director Douglas B. Hansen on grant date

Underlying common stock 24,809 shares Each deferred stock unit corresponds to one share

Fair market value at grant $5.24 per share RWT common stock value used to determine award

Vesting status 100% vested Units fully vested at grant

Earliest delivery date May 20, 2029 No share delivery before this date under deferral election

Post-transaction deferred units 24,809 units Total deferred stock units held directly after grant

Key Terms

Deferred Stock Units, 2014 Incentive Award Plan, fair market value, Deferral Election, +1 more

5 terms

Deferred Stock Units financial

"This transaction relates to the grant of Deferred Stock Units."

Deferred stock units are promises from a company to give an employee shares of stock at a future date, often after certain conditions are met or after leaving the company. They function like a form of delayed compensation, allowing employees to earn shares over time. For investors, they represent potential future ownership in the company, but do not provide immediate voting rights or dividends until the shares are actually received.

2014 Incentive Award Plan financial

"Represents fair market value RWT common stock on the grant date under the 2014 Incentive Award Plan."

fair market value financial

"Represents fair market value RWT common stock on the grant date under the 2014 Incentive Award Plan."

The price a willing buyer and a willing seller would agree on for an asset or security when neither is under pressure and both have access to the same information. Think of it as the market’s neutral estimate of what something is worth, like the price two neighbors would settle on for a car after comparing similar listings. Investors care because fair market value guides buying and selling decisions, tax reporting, portfolio valuation, and how accurately company assets are reflected in financial statements.

Deferral Election financial

"will be delivered to the Participant at the time provided in the Deferral Election but no sooner than May 20, 2029."

minimum mandatory holding period financial

"Shares are subject to a minimum mandatory holding period and will be delivered to the Participant at the time provided in the Deferral Election"

FAQ

What did Redwood Trust (RWT) director Douglas B. Hansen report on this Form 4?

Douglas B. Hansen reported receiving a grant of 24,809 deferred stock units as compensation. These units are tied to Redwood Trust common stock and are 100% vested at grant, but actual share delivery is deferred under a long-term holding schedule.

How many deferred stock units did Douglas Hansen receive from Redwood Trust (RWT)?

Douglas Hansen received 24,809 deferred stock units. Each unit represents one share of Redwood Trust common stock, giving him 24,809 underlying shares tied to this award as of the grant, all held directly as a derivative position.

At what value were Douglas Hansen’s Redwood Trust (RWT) deferred stock units granted?

The deferred stock units were based on the fair market value of Redwood Trust common stock of $5.24 on the grant date. While the transaction price per unit is shown as zero, this $5.24 figure determines the award’s grant-date value under the incentive plan.

When will Douglas Hansen receive the Redwood Trust (RWT) shares for these deferred stock units?

Shares underlying the deferred stock units will be delivered according to Hansen’s deferral election, but not before May 20, 2029. The units are fully vested now, yet subject to a minimum mandatory holding period before share distribution occurs.

Do Douglas Hansen’s Redwood Trust (RWT) deferred stock units expire?

The deferred stock units do not have an expiration date. They remain outstanding until they are settled in shares under the applicable deferral and plan rules, which include the minimum holding period extending at least until May 20, 2029.

Is Douglas Hansen’s Form 4 transaction a market purchase or sale of Redwood Trust (RWT) shares?

The Form 4 reports a grant of deferred stock units, not a market purchase or sale. It is a compensation-related award under Redwood Trust’s 2014 Incentive Award Plan, with zero transaction price and delivery of shares deferred into the future.

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Accepted by SEC EDGAR 05/20/2026 - 06:23 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

HANSEN DOUGLAS B

(Last) (First) (Middle)

1 BELVEDERE PLACE

SUITE 300

(Street)

MILL VALLEY CALIFORNIA 94941

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
REDWOOD TRUST INC [ RWT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/19/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Deferred Stock Units	$5.24(1)	05/19/2026		A(2)		24,809(3)		(4)	(5)	Common Stock	24,809	$0.0	24,809	D

Explanation of Responses:

1. Represents fair market value RWT common stock on the grant date under the 2014 Incentive Award Plan.

2. This transaction relates to the grant of Deferred Stock Units.

3. 100% vested at grant.

4. Shares are subject to a minimum mandatory holding period and will be delivered to the Participant at the time provided in the Deferral Election but no sooner than May 20, 2029.

5. No expiration date is applicable to deferred stock units.

	Attorney-In-Fact:/Andrew P. Stone	05/20/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)