Company: RWT-PA
Filing Date: 2025-01-16
Form Type: 424B5
Source: 0001104659-25-004099
Chunk: 83

Company: REDWOOD TRUST INC
Filing Date: 2025-01-16
Form: 424B5
Chunk 83
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 even if the remaining directors do not constitute a quorum,
and any director elected to fill a vacancy shall serve for the remainder of the full term of the directorship in which such vacancy occurred
and until a successor is elected and qualifies. A director may be removed with or without cause by the affirmative vote of a majority
of all the votes entitled to be cast generally for the election of directors.

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Charter Amendments and Extraordinary Corporate Actions

Under Maryland law, a Maryland
corporation generally cannot dissolve, amend its charter, merge, sell all or substantially all of its assets, engage in a share exchange,
convert or engage in similar transactions outside the ordinary course of business, unless approved by the affirmative vote of stockholders
entitled to cast at least two-thirds of the votes entitled to be cast on the matter. However, a Maryland corporation may provide in its
charter for approval of these matters by a lesser percentage, but not less than a majority of all of the votes entitled to be cast on
the matter. Our charter provides for approval of these matters by the affirmative vote of the holders of a majority of the total number
of shares entitled to vote on the matter.

Advance Notice of Director Nominations and New Business

Our bylaws provide that with
respect to an annual meeting of stockholders, nominations of individuals for election to the board of directors and the proposal of business
to be considered by stockholders may be made only (i) pursuant to our notice of the meeting, (ii) by the board of directors
or (iii) by a stockholder who is entitled to vote at the meeting and who has complied with the advance notice procedures of our
bylaws. With respect to special meetings of stockholders, only the business specified in our notice of the meeting may be brought before
the meeting.

Exclusive Forum

Our bylaws provide that unless
we consent in writing to the selection of an alternative forum, the Circuit Court for Baltimore City, Maryland, or if that court does
not have jurisdiction, the United States District Court for the District of Maryland, Baltimore Division, will be the sole and exclusive
forum for (a) any Internal Corporate Claim (as defined in the Maryland General Corporation Law), (b) any derivative action
or proceeding brought on our behalf, (c) any action asserting a claim of breach of any duty owed by any director or officer or other
employee of ours to us or our stockholders, (d) any action