Redwood Trust (RWT) president converts performance stock units and updates holdings

Filing Impact

(High)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

REDWOOD TRUST INC President Dashiell I. Robinson reported compensation-related stock activity involving Performance Stock Units and common stock. He exercised 20,880 Performance Stock Units into 20,880 shares of common stock, reflecting a value of $5.97 per share based on the fair market value on the transaction date.

Separately, 24,461 Performance Stock Units were withheld as a tax-withholding disposition approved by the Compensation Committee in connection with this distribution and conversion under the Executive Deferred Compensation Plan, rather than an open-market sale. Following these transactions, Robinson holds 331,839 shares of common stock directly, and no Performance Stock Units with the same original grant date remain beneficially owned.

Insider Trade Summary

20,880 shares exercised/converted

Mixed 3 txns

Insider Robinson Dashiell I

Role President

Type	Security	Shares	Price	Value
Tax Withholding	Performance Stock Units	24,461	$0.00	--
Exercise	Performance Stock Units	20,880	$0.00	--
Exercise	Common Stock	20,880	$5.97	$125K

Holdings After Transaction: Performance Stock Units — 20,880 shares (Direct); Common Stock — 331,839 shares (Direct)

Footnotes (1)

This transaction relates to the distribution and/or conversion of Performance Stock Units to common stock under the Executive Deferred Compensation Plan. Represents the value (per stock unit or share of common stock) of the distribution and/or conversion of Performance Stock Units to common stock under the Executive Deferred Compensation Plan, based on the fair market value of Redwood Trust, Inc. common stock on the transaction date. Represents fair value per stock unit of Performance Stock Units based on the original grant date fair value determined at such time in accordance with FASB Accounting Standards Codification Topic 718. This disposition transaction represents a Compensation Committee approved withholding of securities incident to the payment of income tax liability relating to the distribution and/or conversion of Performance Stock Units under the Executive Deferred Compensation Plan. Performance Stock Units were subject to a mandatory holding period and conversion and/or distribution to the Reporting Person within 45 days following April 1, 2026. No expiration date is applicable to performance stock units. Following these reported transactions, no other Performance Stock Units with the same original grant date are beneficially owned.

Key Figures

PSUs converted: 20,880 units Tax-withheld units: 24,461 units Shares received: 20,880 shares +3 more

6 metrics

PSUs converted 20,880 units Performance Stock Units converted to common stock on April 14, 2026

Tax-withheld units 24,461 units Performance Stock Units withheld to cover income tax liability

Shares received 20,880 shares Common stock received upon conversion of Performance Stock Units

Share value on transaction date $5.97 per share Fair market value of Redwood Trust common stock on transaction date

Original PSU fair value $9.0917 per unit Grant-date fair value under ASC Topic 718

Post-transaction holdings 331,839 shares Common stock directly owned by Robinson after transactions

Key Terms

Performance Stock Units, Executive Deferred Compensation Plan, FASB Accounting Standards Codification Topic 718, tax-withholding disposition

4 terms

Performance Stock Units financial

"This transaction relates to the distribution and/or conversion of Performance Stock Units to common stock"

Performance stock units are a type of company award that grants employees shares of stock only if certain performance goals are met. They motivate employees to work toward specific company achievements, aligning their interests with those of shareholders. For investors, they can influence a company's future stock supply and reflect management’s confidence in reaching key targets.

Executive Deferred Compensation Plan financial

"distribution and/or conversion of Performance Stock Units to common stock under the Executive Deferred Compensation Plan"

FASB Accounting Standards Codification Topic 718 financial

"original grant date fair value determined at such time in accordance with FASB Accounting Standards Codification Topic 718"

tax-withholding disposition financial

"disposition transaction represents a Compensation Committee approved withholding of securities incident to the payment of income tax liability"

A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.

Form 4 Insider Transactions: What Each Field Means →

04/15/2026 - 05:33 PM

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^*

Robinson Dashiell I

(Last)

(First)

(Middle)

1 BELVEDERE PLACE

(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
X	Officer (give title below)	Other (specify below)
	President

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/14/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	04/14/2026		M⁽¹⁾		20,880	A	$5.97⁽²⁾	331,839	D

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Performance Stock Units	$9.0917⁽³⁾	04/14/2026		F⁽⁴⁾			24,461	⁽⁵⁾	⁽⁶⁾	Common Stock	24,461	$0.0	20,880	D
Performance Stock Units	$9.0917⁽³⁾	04/14/2026		M⁽¹⁾			20,880	⁽⁵⁾	⁽⁶⁾	Common Stock	20,880	$0.0	0⁽⁷⁾	D

Explanation of Responses:

1. This transaction relates to the distribution and/or conversion of Performance Stock Units to common stock under the Executive Deferred Compensation Plan.

2. Represents the value (per stock unit or share of common stock) of the distribution and/or conversion of Performance Stock Units to common stock under the Executive Deferred Compensation Plan, based on the fair market value of Redwood Trust, Inc. common stock on the transaction date.

3. Represents fair value per stock unit of Performance Stock Units based on the original grant date fair value determined at such time in accordance with FASB Accounting Standards Codification Topic 718.

4. This disposition transaction represents a Compensation Committee approved withholding of securities incident to the payment of income tax liability relating to the distribution and/or conversion of Performance Stock Units under the Executive Deferred Compensation Plan.

5. Performance Stock Units were subject to a mandatory holding period and conversion and/or distribution to the Reporting Person within 45 days following April 1, 2026.

6. No expiration date is applicable to performance stock units.

7. Following these reported transactions, no other Performance Stock Units with the same original grant date are beneficially owned.

	Attorney-In-Fact:/Andrew P. Stone	04/15/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did REDWOOD TRUST INC (RWT) report for Dashiell I. Robinson?

REDWOOD TRUST INC reported that President Dashiell I. Robinson exercised 20,880 Performance Stock Units into 20,880 shares of common stock. In addition, 24,461 units were withheld to cover income tax liabilities under the Executive Deferred Compensation Plan, making this a compensation-related, non-open-market transaction.

How many REDWOOD TRUST INC (RWT) shares does Dashiell I. Robinson hold after this Form 4?

After the reported transactions, President Dashiell I. Robinson directly holds 331,839 shares of REDWOOD TRUST INC common stock. This balance reflects the 20,880 shares received from converting Performance Stock Units, net of a separate tax-withholding disposition in units, rather than any open-market purchase or sale.

What were the Performance Stock Units involved in the RWT Form 4 filing?

The filing shows 20,880 Performance Stock Units converted into the same number of common shares and 24,461 units disposed as tax withholding. These Performance Stock Units were granted under the Executive Deferred Compensation Plan and were subject to a mandatory holding period before conversion and distribution.

Was the RWT insider transaction an open-market sale or purchase of common stock?

The RWT Form 4 does not report any open-market sale or purchase. Instead, it records a derivative exercise converting 20,880 Performance Stock Units into common stock and a Compensation Committee–approved withholding of 24,461 units to cover income tax liabilities related to that distribution and conversion.

What price information is disclosed for the RWT Performance Stock Units and resulting shares?

The Form 4 reports a fair market value of $5.97 per share of common stock on the transaction date for the conversion. It also references an original grant-date fair value of $9.0917 per Performance Stock Unit, determined under FASB Accounting Standards Codification Topic 718 for equity-based compensation.

Do any similar Performance Stock Units remain after this RWT Form 4 transaction?

According to the footnotes, following these reported transactions no other Performance Stock Units with the same original grant date remain beneficially owned. The activity reflects the distribution and conversion of those units under the Executive Deferred Compensation Plan and the associated tax-withholding disposition.