Company: RWT-PA
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0000930236-25-000012
Chunk: 28

Company: REDWOOD TRUST INC
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 28
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-trigger” change-in-control severance or equity award acceleration                                        |
|                                                              |     | ü                |     | Maintains robust stock ownership require-ments for executives, with CEO subject to a peer-leading ownership requirement(2)                |     | ×                      |     | No excise tax gross-up payments for any change-in-control related severance or other payments                       |
|                                                              |     | ü                |     | Maintains a compensation “clawback” policy in line with requirements of the NYSE and the Dodd-Frank Act                                   |     | ×                      |     | No margin, pledging, or hedging transactions permitted with respect to Redwood’s common or preferred stock          |

Endnotes are set forth on page 44, following the conclusion of this Executive Summary.

<div align='center'>33</div>

| STOCKHOLDER OUTREACH AND ENGAGEMENT |

Redwood’s Stockholder Outreach and Engagement During 2024 Redwood continued its long-standing commitment to outreach and engagement with stockholders regarding executive compensation. Engagement with institutional stockholders is generally led by the Chair of the Committee and conducted primarily through virtual meetings and conference calls. Together with the Committee Chair, Redwood’s outreach team includes key members of the Company’s Investor Relations, Human Resources, Finance and Corporate Secretary departments.

| Outreach and Engagement During 2024(3)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| Outreach in 2024. In connection with the May 2024 annual meeting, Redwood undertook an outreach effort reaching institutional stockholders holding 90% of our common shares held by institutions. (These stockholders represented 72% of all outstanding shares of common stock.)                                                                                                                                                                                                                                                                                                                                                                                                    |
| Response/Direct Engagement:Redwood received responses from and/or directly engaged with institutional stockholders holding 46% of our common shares held by institutions. (These stockholders represented 37% of all outstanding shares of common stock.)                                                                                                                                                                                                                                                                                                                                                                                                                            |
| “Say-on-Pay” Support”:At Redwood’s May 2024 annual meeting, 91.3% of stockholders voted in support for “Say-on-Pay”. This high level of  support is reflective of the generally positive “Say-on-Pay” voting support that stockholders have provided following the May 2022 annual meeting of stockholders.                                                                                                                                                                                                                                                                                                                                                                          
 ▪Excluding the low level of support received in May 2022, stockholders have provided an average of approximately 90% support since the inception of “Say-on-Pay”