Fred Matera - Feb 23, 2023 Form 3 Insider Report for REDWOOD TRUST INC (RWT)

Role: Chief Investment Officer
Signature: Attorney-In-Fact: /s/ Andrew P. Stone
Stock symbol: RWT
Transactions as of: Feb 23, 2023
Transactions value $: $0
Form type: 3
Date filed: 2/24/2023, 06:00 PM
Next filing: Jun 13, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	RWT	Common Stock						25.8K	Feb 23, 2023	Trust

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	RWT	Deferred Stock Units							Feb 23, 2023	Common Stock	72.1K	$7.38	Direct	F1, F2, F3, F5
holding	RWT	Deferred Stock Units							Feb 23, 2023	Common Stock	472K	$10.34	Direct	F1, F2, F4, F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Deferred Stock Units are subject to a mandatory holding period and will be delivered to the Participant at the time according to the terms and conditions of the Executive Deferred Compensation Plan.
F2	No expiration date is applicable to deferred stock units.
F3	Includes the 2020 annual director grant of deferred stock units and deferred stock units issued in lieu of compensation to the Reporting Person as a non-employee director at Redwood in 2020. These deferred stock units were 100% vested at grant.
F4	Includes grants of deferred stock units awarded annually from 2020 to 2022 to the Reporting Person as an employee at Redwood and are generally subject to a 4-year vesting schedules.
F5	Represents average grant date fair value of deferred stock units issued, based on the fair market value of RWT common stock on the grant dates under the Amended and Restated 2014 Incentive Award Plan.