Transaction Details

Footnotes

This transaction relates to the distribution and/or conversion of Deferred Stock Units to common stock under the Executive Deferred Compensation Plan. | Represents the value (per stock unit or share of common stock) of the distribution and/or conversion of Deferred Stock Units, including to common stock under the Executive Deferred Compensation Plan, based on the fair market value of Redwood Trust, Inc. common stock on the transaction date. | Represents fair value of Deferred Stock Units, based on the original grant date fair market value. | Deferred Stock Units were subject to a mandatory holding period and are being delivered to the Participant at the time specified in the grant agreement, according to the terms and conditions of the Executive Deferred Compensation Plan. | No expiration date is applicable to deferred stock units.