Company: RWT-PA
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0000930236-25-000012
Chunk: 114

Company: REDWOOD TRUST INC
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 114
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,027,251 |
|                                                            |     | 2002 Employee                          
 Stock Purchase Plan                    |     |                  |     |          — |     |       |     |              |     | — |     |    |     | 254,852(4)       |           |
| Equity compensation plan not approved by security holders: |     | Director Stock-in-lieu-of-Cash Plan(4) |     |                  |     |    418,377 |     |    -5 |     |              |     | — |     | -3 |     |                  |    82,395 |
| Total                                                      |     |                                        |     |                  |     | 10,390,853 |     |       |     |              |     | — |     |    |     |                  | 7,109,646 |

(1) As of December 31, 2024, 9,972,476 shares of common stock may be issued pursuant to outstanding awards under the 2014 Incentive Award Plan, consisting of (i) 6,315,638 outstanding deferred stock units (DSUs) and restricted stock units (RSUs), and (ii) 3,656,838 outstanding performance stock units (PSUs) based on target number of shares awarded. For additional information regarding each category of equity award, please refer to Note 2 below.

(2) As of December 31, 2024, 6,315,638 outstanding DSUs and RSUs were issuable under the 2014 Incentive Award Plan, consisting of 2,080,493 vested DSUs and 4,235,145 unvested DSUs and RSUs. As of December 31, 2024, there were no outstanding stock options under the 2014 Plan. As of December 31, 2024, all 3,656,838 PSUs were unearned and outstanding (based on the target number of shares to be awarded upon the contingent vesting of PSUs). PSUs are performance-based equity awards under which the number of shares of common stock that may be issued at the time of vesting will generally range from 0% to 250% of the number of PSUs granted based on the level of satisfaction of the applicable performance-based vesting condition over the vesting period, with the number of PSUs granted being adjusted at the time of vesting to reflect the value of any dividends paid on shares of common stock during the