Redwood Trust (RWT) director adds 17,551 deferred stock units, now holds 41,187

Rhea-AI Filing Summary

Redwood Trust Inc. reported a director equity compensation transaction involving deferred stock units. On 12/30/2025, the reporting person acquired 17,551.19 deferred stock units under the Redwood Trust Inc. Amended and Restated Executive Deferred Compensation Plan, tied to a deferral election for director compensation and dividend equivalent rights. Each deferred stock unit is linked to one share of Redwood Trust common stock at a conversion price of $5.5 per share.

Following this grant, the reporting person beneficially owns 41,187.19 deferred stock units on a direct basis. The units are 100% vested at grant and have no expiration date, meaning they represent fully vested, share-linked compensation to be settled in accordance with the plan’s terms.

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
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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^*

KUBICEK GREG H

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
12/30/2025

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	$5.5	12/30/2025		A		17,551.19(1)		(2)	(3)	Common Stock	17,551.19	$0.0	41,187.19	D

Explanation of Responses:

1. This transaction relates to the acquisition of Deferred Stock Units in accordance with the deferral election made with respect to director compensation and/or dividend equivalent rights according to the terms and conditions of the Redwood Trust Inc. Amended and Restated Executive Deferred Compensation Plan.

2. 100% vested at grant.

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

	Attorney-In-Fact:/Andrew P. Stone	12/30/2025
	** 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 Inc. (RWT) disclose?

The company disclosed that a director acquired 17,551.19 deferred stock units on 12/30/2025 as part of a director compensation deferral election.

How many deferred stock units does the Redwood Trust (RWT) director own after this transaction?

After the reported transaction, the director beneficially owns 41,187.19 deferred stock units linked to Redwood Trust common stock.

What is the conversion price and underlying security for the Redwood Trust (RWT) deferred stock units?

The deferred stock units have a conversion or exercise price of $5.5 per unit and are tied to Redwood Trust common stock on a one-for-one share basis.

Are the Redwood Trust (RWT) deferred stock units vested and do they expire?

The filing states that the deferred stock units are 100% vested at grant and that no expiration date is applicable to these units.

Under what plan were the Redwood Trust (RWT) deferred stock units granted?

The units were granted under the Redwood Trust Inc. Amended and Restated Executive Deferred Compensation Plan, based on a director compensation deferral election and dividend equivalent rights.

Is this Redwood Trust (RWT) insider transaction a purchase on the market?

No. The transaction relates to the acquisition of deferred stock units as part of a director compensation and dividend equivalent deferral plan, not an open-market stock purchase.