Company: RWT-PA
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000930236-25-000020
Chunk: 256

Company: REDWOOD TRUST INC
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 8
Chunk 256
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 to the exercise price. Exercises of any Warrants will be settled on a net basis.The Warrants met the criteria for equity classification under GAAP and are recorded as a component of Additional paid-in-capital in Equity on our Consolidated Balance Sheets. The Warrants were valued at $0.8 million on the issuance date and are not subject to subsequent remeasurement. See Note 21 for discussion on the impact of the Warrants on earnings per common share.For additional information related to our equity, see Note 19 to the Consolidated Financial Statements included in our Annual Report on Form 10-K for the year ended December 31, 2024.

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REDWOOD TRUST, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS March 31, 2025(Unaudited) 

Note 21. Earnings per Common Share

The following table provides the basic and diluted earnings per common share computations for the three months ended March 31, 2025 and 2024. Table 21.1 – Basic and Diluted Earnings per Common ShareThree Months Ended March 31,(In Thousands, except Share Data)20252024Basic Earnings per Common Share:Net income available to common stockholders$14,397 $28,512 Less: Dividends and undistributed earnings allocated to participating securities(1,412)(1,356)Net income available to common stockholders$12,985 $27,156 Basic weighted average common shares outstanding132,766,199 131,570,347 Basic Earnings per Common Share$0.10 $0.21 Diluted Earnings per Common Share:Net income available to common stockholders$14,397 $28,512 Less: Dividends and undistributed earnings allocated to participating securities(1,412)(1,356)Net income available to common stockholders$12,985 $27,156 Weighted average common shares outstanding132,766,199 131,570,347 Net effect of dilutive equity awards— — Net effect of assumed convertible notes conversion to common shares— — Diluted weighted average common shares outstanding132,766,199 131,570,347 Diluted Earnings per Common Share$0.10 $0.21 We included participating securities, which are certain equity awards that have non-forfeitable dividend participation rights, in the calculations of basic and diluted