Redwood Trust director converts deferred stock units

REDWOOD TRUST INC director Debora Horvath converted deferred stock-based compensation into common shares.

(Moderate)

(Neutral)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment works How the balance works

Form Type

Rhea-AI Filing Summary

REDWOOD TRUST INC director Debora Horvath converted deferred stock-based compensation into common shares. On May 1, 2026, she exercised and distributed 25,065 Deferred Stock Units into an equal number of Redwood Trust common shares in line with her executive deferred compensation election.

The conversion occurred under the company’s Amended and Restated Executive Deferred Compensation Plan, after a mandatory holding period and based on the fair market value of the stock on the transaction date. Following these transactions, she indirectly holds 128,307 common shares in a trust and 9,568.49 common shares through an IRA.

Insider Trade Summary

25,065 shares exercised/converted

Exercise 3 txns

Insider Debora Horvath D

Role Director

Type	Security	Shares	Price	Value
Exercise	Deferred Stock Units	25,065	$0.00	$0.00
Exercise	Common stock	25,065	$5.56	$139K
holding	Common stock	--	--	--

Holdings After Transaction: Deferred Stock Units — 0 contracts (Direct); Common stock — 128,307 shares (Indirect, Trust); Common stock — 9,568.49 shares (Indirect, IRA)

Footnotes (5)

F1. This transaction relates to the distribution and/or conversion of Deferred Stock Units to common stock in accordance with the deferral election made with respect to director compensation and dividend equivalent rights according to the terms and conditions of the Redwood Trust Inc. Amended and Restated Executive Deferred Compensation Plan.
F2. Represents the value of the distribution and/or conversion of Deferred 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.
F3. Represents average grant date fair value of Deferred Stock Units acquired based on the fair market value of Redwood Trust, Inc. common stock on the acquisition dates.
F4. Deferred Stock Units were subject to a mandatory holding period and are being delivered to the Participant at the time provided in the Deferral Election Form, according to the terms and conditions of the Redwood Trust, Inc. Amended and Restated Executive Deferred Compensation Plan.
F5. No expiration date is applicable to Deferred Stock Units.

Key Figures

Deferred Stock Units converted: 25,065 units Common shares acquired: 25,065 shares Conversion price per unit: $6.56 +3 more

6 metrics

Deferred Stock Units converted 25,065 units Converted to common stock on May 1, 2026

Common shares acquired 25,065 shares Issued from conversion of Deferred Stock Units

Conversion price per unit $6.56 Conversion or exercise price of Deferred Stock Units

Fair market value per share $5.56 Value used for common stock on transaction date

Post-transaction trust holdings 128,307 shares Common stock held indirectly in a trust

Post-transaction IRA holdings 9,568.49 shares Common stock held indirectly via an IRA

Key Terms

Deferred Stock Units, Executive Deferred Compensation Plan, mandatory holding period, dividend equivalent rights, +1 more

5 terms

Deferred Stock Units financial

"This transaction relates to the distribution and/or conversion 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.

Executive Deferred Compensation Plan financial

"according to the terms and conditions of the Redwood Trust Inc. Amended and Restated Executive Deferred Compensation Plan"

mandatory holding period financial

"Deferred Stock Units were subject to a mandatory holding period and are being delivered"

dividend equivalent rights financial

"with respect to director compensation and dividend equivalent rights according to the terms"

Dividend equivalent rights are promises that mirror the cash payments shareholders get from a company’s profits, but they are paid to holders of certain awards (like stock options or restricted stock units) rather than to actual shares. Think of them as a paycheck top‑up that matches dividends while the award is not yet a real stock, and they matter to investors because they add to employee compensation costs and potential share dilution, affecting company profitability and per‑share value.

IRA financial

"total_shares_following_transaction": "9568.4900" ... "nature_of_ownership": "IRA""

An individual retirement account (IRA) is a savings account designed to help people put aside money for their retirement, often with tax advantages that encourage long-term savings. It matters to investors because it can grow over time, providing financial security later in life, and offers benefits that can reduce current taxes or allow investments to compound more effectively.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Redwood Trust (RWT) director Debora Horvath report in this Form 4?

Debora Horvath reported the conversion of 25,065 Deferred Stock Units into 25,065 Redwood Trust common shares. This reflects a distribution of deferred director compensation, not an open-market stock purchase or sale, under the company’s executive deferred compensation plan.

How many Redwood Trust shares did Debora Horvath acquire through the Deferred Stock Units?

She acquired 25,065 Redwood Trust common shares through the exercise and distribution of 25,065 Deferred Stock Units. Each unit converted into one share of common stock in accordance with the executive deferred compensation plan and her prior deferral election.

What prices are associated with Debora Horvath’s Deferred Stock Unit conversion at Redwood Trust (RWT)?

The Deferred Stock Units carried a conversion price of $6.56 per unit, while the related common stock entry reflects a fair market value of $5.56 per share on the transaction date. These figures are used for valuation and compensation accounting, not as open-market trade prices.

How many Redwood Trust shares does Debora Horvath hold after these Form 4 transactions?

After the reported transactions, she indirectly holds 128,307 Redwood Trust common shares in a trust and 9,568.49 common shares through an IRA. These holdings reflect equity accumulated primarily through compensation and deferral arrangements rather than recent market buying.

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

No, the filing shows a compensation-related conversion of Deferred Stock Units into common shares, not a market trade. The units were distributed and converted according to the Executive Deferred Compensation Plan and the director’s deferral election after a mandatory holding period.

What is the role of the Executive Deferred Compensation Plan in this Redwood Trust Form 4?

The Executive Deferred Compensation Plan governs how Deferred Stock Units are credited, held, and later converted to common stock. In this filing, it provided for distribution and conversion of director compensation and associated dividend equivalent rights into 25,065 common shares at the specified time.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google

Accepted by SEC EDGAR 05/01/2026 - 04:15 PM EDT

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^*

Debora Horvath D

(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)
05/01/2026

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	05/01/2026		M⁽¹⁾		25,065	A	$5.56⁽²⁾	128,307	I	Trust
Common stock								9,568.49	I	IRA

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)
Deferred Stock Units	$6.56⁽³⁾	05/01/2026		M⁽¹⁾			25,065	⁽⁴⁾	⁽⁵⁾	Common Stock	25,065	$0	0	D

Explanation of Responses:

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

2. Represents the value of the distribution and/or conversion of Deferred 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 average grant date fair value of Deferred Stock Units acquired based on the fair market value of Redwood Trust, Inc. common stock on the acquisition dates.

4. Deferred Stock Units were subject to a mandatory holding period and are being delivered to the Participant at the time provided in the Deferral Election Form, according to the terms and conditions of the Redwood Trust, Inc. Amended and Restated Executive Deferred Compensation Plan.

5. No expiration date is applicable to Deferred Stock Units.

	Attorney-In-Fact: /s/ Andrew P. Stone	05/01/2026
	** 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