Company: RWT-PA
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000930236-25-000007
Chunk: 148

Company: REDWOOD TRUST INC
Filing Date: 2025-03-03
Form: 10-K
Item: Item 16
Chunk 148
---
431,072 $11.55 Granted1,027,640 6.86 275,005 7.88 558,388 8.38 Vested(297,320)8.56 (354,813)9.21 (134,426)12.56 Forfeited(99,816)7.51 (132,741)8.40 (48,915)11.04 Outstanding at End of Year1,224,074 $7.32 593,570 $8.79 806,119 $9.22 We generally grant RSUs annually, as part of our compensation process. In addition, RSUs are granted from time to time in connection with hiring and promotions. RSUs generally vest over the course of a four-year vesting period, and are distributed annually, at the end of each vesting period. The expenses recorded for RSUs were $2 million, $3 million, and $3 million for the years ended December 31, 2024, 2023 and 2022, respectively. As of December 31, 2024, there was $7 million of unrecognized compensation cost related to unvested RSUs. This cost will be recognized over a weighted average period of less than 2 years. Restrictions on shares underlying RSUs outstanding lapse through 2028.Deferred Stock Units (“DSUs”)The following table summarizes the activities related to DSUs for the years ended December 31, 2024, 2023, and 2022.Table 21.3 – Deferred Stock Units Activities Years Ended December 31, 202420232022 UnitsWeightedAverageGrant DateFair ValueUnitsWeightedAverageGrant DateFair ValueUnitsWeightedAverageGrant DateFair ValueOutstanding at beginning of year4,821,172 $10.13 4,831,338 $11.31 4,022,088 $12.93 Granted1,698,285 6.56 1,499,621 7.77 1,759,344 8.83 Distributions(893,801)10.07 (1,459,666)11.71 (551,401)11.35 Forfeitures(115,715)8.36 (50,121)7.54 (398,693)12.07 Balance at End of