[Form 4] REDWOOD TRUST INC Insider Trading Activity

Rhea-AI Filing Summary

Redwood Trust Inc. director Greg H. Kubicek received 18,529.880 deferred stock units as part of his director compensation deferral. The award was granted on March 31, 2026 under Redwood Trust’s Amended and Restated Executive Deferred Compensation Plan, is 100% vested at grant, and represents an equivalent number of underlying common shares at a conversion price of $5.38 per share. The filing shows Kubicek directly holds 18,529.880 deferred stock units after this transaction.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider KUBICEK GREG H

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Deferred Stock Units	18,529.88	$0.00	--

Holdings After Transaction: Deferred Stock Units — 18,529.88 shares (Direct)

Footnotes (1)

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. 100% vested at grant. No expiration date is applicable to deferred stock units.

Key Figures

Deferred stock units granted: 18,529.880 units Conversion price: $5.38 per share Total deferred stock units held: 18,529.880 units +1 more

4 metrics

Deferred stock units granted 18,529.880 units Grant to director Greg H. Kubicek on March 31, 2026

Conversion price $5.38 per share Conversion or exercise price for underlying common stock

Total deferred stock units held 18,529.880 units Total holdings following the reported transaction

Transaction price per unit $0.00 Award granted as director compensation, not an open-market purchase

Key Terms

Deferred Stock Units, dividend equivalent rights, Amended and Restated Executive Deferred Compensation Plan, 100% vested at grant

4 terms

Deferred Stock Units financial

"This transaction relates to the acquisition of Deferred Stock Units in accordance with the deferral election..."

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.

dividend equivalent rights financial

"...deferral election made with respect to director compensation and/or 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.

Amended and Restated Executive Deferred Compensation Plan financial

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

100% vested at grant financial

"100% vested at grant."

Form 4 Insider Transactions: What Each Field Means →

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^*

KUBICEK GREG H

(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)
03/31/2026

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	$5.38	03/31/2026		A		18,529.88(1)		(2)	(3)	Common Stock	18,529.88	$0.0000	18,529.88	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: /s/ Andrew P. Stone	03/31/2026
	** 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)