Debora Horvath D 4

What Happened
Debora Horvath, a director of Redwood Trust, converted 20,729 Deferred Stock Units (DSUs) into 20,729 shares of Redwood Trust common stock on 2026-05-26. The filing shows an acquisition value of $5.28 per share for a total of $109,449. A corresponding entry records the removal/disposition of 20,729 DSUs at $0.00 to reflect the conversion from derivative units into common shares.

Key Details

• Transaction date: 2026-05-26; Form 4 filed: 2026-05-27 (appears timely).
• Acquired: 20,729 shares @ $5.28 = $109,449 (reported as conversion/distribution).
• Disposed (derivative): 20,729 units @ $0.00 = $0 (reflects conversion of DSUs).
• Shares owned after transaction: not specified in the filing.
• Footnotes: conversion/distribution of Deferred Stock Units under the Executive Deferred Compensation Plan (F1); $5.28 reflects fair market value on the transaction date (F2); DSUs had original grant fair value noted (F3); DSUs were subject to a mandatory holding period and delivered per plan terms (F4); DSUs have no expiration date (F5).

Context
This was not an open-market buy or sale but a routine conversion of deferred compensation (DSUs) into common shares. Such conversions are compensation-related and generally do not by themselves signal a change in insider sentiment about the stock.