Redwood Trust (NYSE: RWT) CHRO converts PSUs and updates share holdings

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

REDWOOD TRUST INC Chief Human Resource Officer Sasha G. Macomber converted Performance Stock Units into common stock as part of compensation. Macomber exercised 8,031 Performance Stock Units into 8,031 shares of common stock under the Executive Deferred Compensation Plan, based on the fair market value on the transaction date.

To cover income tax obligations related to this distribution and conversion, 9,407 Performance Stock Units were withheld in a Compensation Committee–approved tax-withholding transaction, rather than sold in the open market. After these events, Macomber directly holds 90,403 shares of common stock, and no Performance Stock Units from the same original grant date remain outstanding.

Insider Trade Summary

8,031 shares exercised/converted

Mixed 3 txns

Insider Macomber Sasha G.

Role Chief Human Resource Officer

Type	Security	Shares	Price	Value
Tax Withholding	Performance Stock Units	9,407	$0.00	--
Exercise	Performance Stock Units	8,031	$0.00	--
Exercise	Common Stock	8,031	$5.97	$48K

Holdings After Transaction: Performance Stock Units — 8,031 shares (Direct); Common Stock — 90,403 shares (Direct)

Footnotes (1)

This transaction relates to the distribution and/or conversion of Performance Stock Units to common stock under the Executive Deferred Compensation Plan. Represents the value (per stock unit or share of common stock) of the distribution and/or conversion of Performance 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 fair value per stock unit of Performance Stock Units based on the original grant date fair value determined at such time in accordance with FASB Accounting Standards Codification Topic 718. This disposition transaction represents a Compensation Committee approved withholding of securities incident to the payment of income tax liability relating to the distribution and/or conversion of Performance Stock Units under the Executive Deferred Compensation Plan. Performance Stock Units were subject to a mandatory holding period and conversion and/or distribution to the Reporting Person within 45 days following April 1, 2026. No expiration date is applicable to performance stock units. Following these reported transactions, no other Performance Stock Units with the same original grant date are beneficially owned.

Key Figures

PSUs exercised: 8,031 units Common shares received: 8,031 shares Tax withholding units: 9,407 units +3 more

6 metrics

PSUs exercised 8,031 units Performance Stock Units converted to common stock on 2026-04-14

Common shares received 8,031 shares Shares of common stock underlying exercised Performance Stock Units

Tax withholding units 9,407 units Performance Stock Units withheld to cover income tax liability

Common shares held after 90,403 shares Direct common stock ownership following transactions

PSU conversion price reference $9.0917 per unit Original grant-date fair value per Performance Stock Unit

Common stock fair value $5.97 per share Fair market value used for conversion/distribution on transaction date

Key Terms

Performance Stock Units, Executive Deferred Compensation Plan, FASB Accounting Standards Codification Topic 718, Compensation Committee, +1 more

5 terms

Performance Stock Units financial

"This transaction relates to the distribution and/or conversion of Performance Stock Units to common stock"

Performance stock units are a type of company award that grants employees shares of stock only if certain performance goals are met. They motivate employees to work toward specific company achievements, aligning their interests with those of shareholders. For investors, they can influence a company's future stock supply and reflect management’s confidence in reaching key targets.

Executive Deferred Compensation Plan financial

"distribution and/or conversion of Performance Stock Units to common stock under the Executive Deferred Compensation Plan"

FASB Accounting Standards Codification Topic 718 financial

"original grant date fair value determined at such time in accordance with FASB Accounting Standards Codification Topic 718"

Compensation Committee financial

"disposition transaction represents a Compensation Committee approved withholding of securities"

A compensation committee is a group within a company's leadership responsible for setting and reviewing how much top executives and employees are paid, including salaries, bonuses, and benefits. It matters to investors because fair and effective pay decisions can influence a company's performance, leadership motivation, and overall governance, helping ensure that the company’s management is aligned with shareholders’ interests.

fair market value financial

"based on the fair market value of Redwood Trust, Inc. common stock on the transaction date"

The price a willing buyer and a willing seller would agree on for an asset or security when neither is under pressure and both have access to the same information. Think of it as the market’s neutral estimate of what something is worth, like the price two neighbors would settle on for a car after comparing similar listings. Investors care because fair market value guides buying and selling decisions, tax reporting, portfolio valuation, and how accurately company assets are reflected in financial statements.

Form 4 Insider Transactions: What Each Field Means →

04/15/2026 - 05:57 PM

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^*

Macomber Sasha G.

(Last)

(First)

(Middle)

1 BELVEDERE PLACE

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/14/2026

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	04/14/2026		M⁽¹⁾		8,031	A	$5.97⁽²⁾	90,403	D

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)
Performance Stock Units	$9.0917⁽³⁾	04/14/2026		F⁽⁴⁾			9,407	⁽⁵⁾	⁽⁶⁾	Common Stock	9,407	$0.0	8,031	D
Performance Stock Units	$9.0917⁽³⁾	04/14/2026		M⁽¹⁾			8,031	⁽⁵⁾	⁽⁶⁾	Common Stock	8,031	$0.0	0⁽⁷⁾	D

Explanation of Responses:

1. This transaction relates to the distribution and/or conversion of Performance Stock Units to common stock under the Executive Deferred Compensation Plan.

2. Represents the value (per stock unit or share of common stock) of the distribution and/or conversion of Performance 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 fair value per stock unit of Performance Stock Units based on the original grant date fair value determined at such time in accordance with FASB Accounting Standards Codification Topic 718.

4. This disposition transaction represents a Compensation Committee approved withholding of securities incident to the payment of income tax liability relating to the distribution and/or conversion of Performance Stock Units under the Executive Deferred Compensation Plan.

5. Performance Stock Units were subject to a mandatory holding period and conversion and/or distribution to the Reporting Person within 45 days following April 1, 2026.

6. No expiration date is applicable to performance stock units.

7. Following these reported transactions, no other Performance Stock Units with the same original grant date are beneficially owned.

	Attorney-In-Fact:/Andrew P. Stone	04/15/2026
	** 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

FAQ

What did RWT executive Sasha G. Macomber report in this Form 4?

Sasha G. Macomber reported a conversion of Performance Stock Units into common stock under Redwood Trust’s Executive Deferred Compensation Plan. The filing also shows compensation-related tax withholding in stock units and updated direct ownership of common shares following these transactions.

How many Redwood Trust (RWT) Performance Stock Units did Macomber convert?

Macomber exercised 8,031 Performance Stock Units into 8,031 shares of common stock. The conversion was part of a distribution and/or conversion under the Executive Deferred Compensation Plan and used the fair market value of Redwood Trust common stock on the transaction date.

How many Redwood Trust (RWT) units were withheld for taxes in this filing?

9,407 Performance Stock Units were withheld to cover income tax liability related to the distribution and/or conversion of units. The Compensation Committee approved this withholding of securities as a non-market disposition tied directly to the compensation event, not an open-market sale.

What is Sasha G. Macomber’s common stock holding in RWT after these transactions?

After the reported transactions, Macomber directly holds 90,403 shares of Redwood Trust common stock. This figure reflects the new ownership position following the Performance Stock Unit conversion and the associated tax-withholding disposition of additional units.

Were any Performance Stock Units remaining after the reported RWT transactions?

No Performance Stock Units with the same original grant date remain beneficially owned after these transactions. The filing notes that, following the conversion and tax withholding, all such units from that grant have been fully distributed, converted, or withheld.

How was the value of RWT Performance Stock Units determined in this Form 4?

The value per unit was based on fair market value and original grant-date fair value. One footnote ties unit value to Redwood Trust’s fair market stock price on the transaction date, while another references grant-date fair value under FASB ASC Topic 718.