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  4. [Form 4] REDWOOD TRUST INC Insider Trading Activity

Redwood Trust (NYSE: RWT) director converts 25,065 deferred stock units to shares

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
4

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.

Positive

  • None.

Negative

  • None.
Insider Debora Horvath D
Role null
Type Security Shares Price Value
Exercise Deferred Stock Units 25,065 $0.00 --
Exercise Common stock 25,065 $5.56 $139K
holding Common stock -- -- --
Holdings After Transaction: Deferred Stock Units — 0 shares (Direct, null); Common stock — 128,307 shares (Indirect, Trust)
Footnotes (1)
  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. 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. 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. 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. No expiration date is applicable to Deferred Stock Units.
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
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.
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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)
XDirector10% 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)
XForm 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)
CodeVAmount(A) or (D)Price
Common stock05/01/2026M(1)25,065A$5.56(2)128,307ITrust
Common stock9,568.49IIRA
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Deferred Stock Units$6.56(3)05/01/2026M(1)25,065 (4) (5)Common Stock25,065$00D
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. Stone05/01/2026
** Signature of Reporting PersonDate
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 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.