Company: RWT-PA
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000930236-25-000007
Chunk: 152

Company: REDWOOD TRUST INC
Filing Date: 2025-03-03
Form: 10-K
Item: Item 16
Chunk 152
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DCP to increase by 100,000 shares the shares available to allow non-employee directors to defer certain cash payments and dividends into DSUs. At December 31, 2024, there were 82,395 shares available for grant under this plan.

Note 22. General and Administrative Expenses

Components of our general and administrative expenses for the years ended December 31, 2024, 2023 and 2022 are presented in the following table.Table 22.1 – Components of General and Administrative ExpensesYears Ended December 31,(In Thousands)202420232022Fixed compensation expense (1)$55,736 $53,525 $63,642 Long-term incentive award expense (2)25,02524,854 23,101 Annual variable compensation expense 19,47814,752 12,873 Systems and consulting13,660 12,454 14,193 Office costs7,634 8,590 8,574 Accounting and legal4,762 5,191 6,644 Corporate costs3,495 3,628 3,675 Other6,603 5,301 8,206 Total General and Administrative Expenses$136,393 $128,295 $140,908 (1)Includes $2 million, $2 million and $7 million of severance and transition-related expenses for the years ended December 31, 2024, 2023 and 2022, respectively.(2)For the years ended December 31, 2024, 2023, and 2022, long-term incentive award expense includes $19 million, $18 million and $20 million, respectively, of expense for awards settleable in shares of our common stock and $6 million, $6 million and $3 million, respectively, of expense for awards settleable in cash. For the year ended December 31, 2024, includes equity amortization expense of $1 million related to employee terminations.

F- 74

REDWOOD TRUST, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS December 31, 2024

Note 23. Taxes

Components of our net deferred tax assets at December 31, 2024 and 2023 are presented in the following table.Table 23.1 – Deferred Tax Assets and (Liabilities)(In Thousands)December 31