Redwood Trust director granted 24,809 stock units

Damon Doneene K reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Damon Doneene K reported acquisition or exercise transactions in this Form 4 filing.

REDWOOD TRUST INC director Damon K. Doneene received a grant of 24,809 Deferred Stock Units tied to the company’s common stock. The award was made at no cash cost to the director and is based on a fair market value of about $5.24 per share on the grant date.

The units were 100% vested at grant but are subject to a minimum mandatory holding period. Shares will be delivered under the deferral election, but not earlier than May 20, 2029. Following this award, the director holds 24,809 Deferred Stock Units representing an equivalent number of common shares.

Insider Trade Summary

Grant/Award: 24,809 shares

Grant/Award 1 txn

Insider Damon Doneene K

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 Reference share value: $5.24 per share Underlying common shares: 24,809 shares +2 more

5 metrics

Deferred Stock Units granted 24,809 units Equity award to director on May 19, 2026

Reference share value $5.24 per share Fair market value of RWT common stock on grant date

Underlying common shares 24,809 shares Common Stock underlying the Deferred Stock Units

Earliest delivery date May 20, 2029 Minimum timing for share delivery under deferral election

Holdings after transaction 24,809 Deferred Stock Units Total derivative units reported following this grant

Key Terms

Deferred Stock Units, 2014 Incentive Award Plan, minimum mandatory holding period, Deferral Election

4 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."

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."

Deferral Election financial

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

FAQ

What did Redwood Trust (RWT) director Damon Doneene report on this Form 4?

Damon K. Doneene reported receiving 24,809 Deferred Stock Units as a compensation grant. These units are linked to Redwood Trust common stock and were issued at no cash cost to the director under the company’s 2014 Incentive Award Plan.

How many Deferred Stock Units did the Redwood Trust (RWT) director receive?

The director received 24,809 Deferred Stock Units. Each unit represents the right to receive one share of Redwood Trust common stock, creating an equity-based compensation position fully reflected in the director’s post-transaction holdings.

When do the granted Deferred Stock Units for Redwood Trust (RWT) become vested and deliverable?

The Deferred Stock Units were 100% vested at grant but remain subject to a minimum mandatory holding period. The underlying shares will be delivered under the deferral election, and not earlier than May 20, 2029, according to the disclosure.

What is the reference price for the Redwood Trust (RWT) Deferred Stock Units grant?

The grant references a value of $5.24 per share, representing fair market value of Redwood Trust common stock on the grant date. This price is used as the conversion or exercise price for the 24,809 Deferred Stock Units reported.

Is this Redwood Trust (RWT) Form 4 a market purchase or sale of shares?

This Form 4 does not show a market purchase or sale. Instead, it reports a grant of 24,809 Deferred Stock Units as compensation, an equity award that provides future delivery of common shares rather than an open-market trade.

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Accepted by SEC EDGAR 05/20/2026 - 06:12 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^*

Damon Doneene K

(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)