Company: RWT-PA
Filing Date: 2025-03-03
Form Type: S-3ASR
Source: 0001104659-25-019828
Chunk: 39

Company: REDWOOD TRUST INC
Filing Date: 2025-03-03
Form: S-3ASR
Chunk 39
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 to fix the number of directorships and (b) require, unless called
by our chairman of the board, our president, the board of directors or a majority of independent directors, the request of holders of
a majority of outstanding shares entitled to vote at the meeting to call a special meeting of stockholders.

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Meetings of Stockholders

Under our current bylaws
and pursuant to Maryland law, annual meetings of stockholders will be held each year at a date and at the time and place determined by
our board of directors. Special meetings of stockholders may be called by our board of directors, the chairman of the board of directors,
our president or a majority of independent directors. Additionally, subject to the provisions of our bylaws, special meetings of the
stockholders to act on any matter must be called by our secretary upon the written request of stockholders entitled to cast not less
than a majority of all the votes entitled to be cast at such meeting who have requested the special meeting in accordance with the procedures
set forth in, and provided the information and certifications required by, our bylaws. Only matters set forth in the notice of the special
meeting may be considered and acted upon at such a meeting. Our secretary will inform the requesting stockholders of the reasonably estimated
cost of preparing and delivering the notice of meeting (including our proxy materials), and the requesting stockholder or stockholders
must pay such estimated cost before our secretary may prepare and deliver the notice of the special meeting.

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MATERIAL
U.S. FEDERAL INCOME TAX CONSIDERATIONS</div>

The following is a general
summary of certain material U.S. federal income tax considerations regarding our qualification and taxation as a REIT and the purchase,
ownership and disposition of our capital stock and debt securities, but does not purport to be a complete analysis of all potential tax
effects. Supplemental U.S. federal income tax considerations relevant to the ownership of the securities offered by this prospectus
may be provided in the prospectus supplement that relates to those securities. Your tax treatment will vary depending upon the terms
of the specific securities you acquire, as well as your particular situation. For purposes of this discussion, references to “we,”
“our” and “us” mean only Redwood Trust, Inc. and do not include any of its subsidiaries, except as otherwise
indicated. This summary is for general information only and is not tax advice.