Company: RWT-PA
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0000930236-25-000012
Chunk: 41

Company: REDWOOD TRUST INC
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 41
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, which PSUs had an original grant date value in December 2021 of $3.0 million; and (ii) total realized compensation value of $2.59 million from these realizable/target components of long-term compensation for the CEO for 2024, which is comprised of: the value of the 106,898 shares of RWT common stock underlying these DSUs which vested in December 2024 (valued at the per share closing price on December 31, 2024), plus the value of the 106,898 shares of RWT common stock underlying these csDSUs which vested in December 2024 (valued at the per share closing price on December 13, 2024, the settlement date for these csDSUs), plus the $0.69 million amount of aggregate dividend equivalent payments made in respect of these DSUs and csDSUs over the course of their four-year vesting period; and the value of the 67,591 shares of RWT common stock underlying these PSUs which vested based on the performance-based vesting criteria for these PSUs measured over a three-year performance period (valued at the per share closing price on December 31, 2024). Partial cash-settlement in December 2024 of one-quarter of the 118.421 cash-settled RSUs that were granted to the CEO in December 2023, and which have a four-year pro-rata vesting/settlement schedule, are not included in either “realizable/target value” or “long-term/performance- |

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Endnotes to Executive Summary of CD&A : (cont.)

| based pay realization” for 2024, as these cash-settled RSUs are considered a component of long-term compensation for which final pay realization will be reported in after the full four-year vesting period concludes in December 2028. |

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#### Compensation Discussion and Analysis (CD&A)
| Section I - Introduction |     |   |     |                                                            |
|                          |     | Ø |     | Named Executive Officers                                   |
|                          |     | Ø |     | Compensation Committee                                     |
|                          |     | Ø |     | Redwood’s Business Model and Internal Management Structure |
|                          |     | Ø |     | Overall Compensation Philosophy and Objectives             |
|                          |     | Ø |     | Outreach to Stockholders                                   |
|                          |     | Ø |     | Stockholder