Redwood Trust (RWT) awards 39,964 deferred stock units with $5.63 grant value

Rhea-AI Filing Summary

Redwood Trust, Inc. reported an equity award to a senior executive. A company officer serving as Chief Human Resource Officer received a grant of 39,964 Deferred Stock Units on 12/11/2025. The grant date fair value of these DSUs was $5.63 per unit, based on the fair market value of Redwood Trust common stock on the transaction date under the company’s 2014 Incentive Award Plan.

According to the vesting schedule, 25% of the DSUs vest on 1/31/2027, with an additional 6.25% vesting each quarter thereafter beginning 4/1/2027, and the award becomes fully vested on 12/11/2029. The DSUs represent the right to receive shares of Redwood Trust common stock in the future and do not carry an expiration date.

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^*

Macomber Sasha G.

(Last) (First) (Middle)

1 BELVEDERE PLACE

SUITE 300

(Street)

MILL VALLEY CA 94941

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
12/11/2025

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

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

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

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(1)	$5.63(2)	12/11/2025		A		39,964		(3)	(4)	Common Stock	39,964	$0.0	39,964	D

Explanation of Responses:

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

2. Represents grant date fair value of the DSUs issued, based on the fair market value of RWT common stock on the transaction date under the 2014 Incentive Award Plan.

3. 25% vests 1/31/2027, 6.25% every quarter thereafter (beginning with 4/1/2027). Fully vested 12/11/2029

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

	Attorney-In-Fact:/Andrew P. Stone	12/11/2025
	** 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.

FAQ

What insider transaction did Redwood Trust (RWT) report in this Form 4?

Redwood Trust reported that its Chief Human Resource Officer received a grant of 39,964 Deferred Stock Units on 12/11/2025 as part of equity compensation.

What is the grant date fair value of the Deferred Stock Units reported by Redwood Trust (RWT)?

The Deferred Stock Units were granted at a grant date fair value of $5.63 per unit, based on the fair market value of Redwood Trust common stock on the transaction date under the 2014 Incentive Award Plan.

How do the Deferred Stock Units granted by Redwood Trust (RWT) vest over time?

The DSUs vest as follows: 25% on 1/31/2027, then 6.25% each quarter beginning 4/1/2027, with full vesting achieved on 12/11/2029.

Do the Deferred Stock Units granted by Redwood Trust (RWT) have an expiration date?

No. The disclosure states that no expiration date is applicable to the deferred stock units.

What type of security underlies the Deferred Stock Units granted by Redwood Trust (RWT)?

The Deferred Stock Units are tied to Redwood Trust common stock, with 39,964 shares of common stock underlying the DSU award.

Under which plan were the Redwood Trust (RWT) Deferred Stock Units granted?

The DSUs were issued under Redwood Trust’s 2014 Incentive Award Plan, using the fair market value of the common stock on the transaction date to determine grant date fair value.