REDWOOD TRUST INC 4
4 · REDWOOD TRUST INC · Filed Dec 16, 2016
Insider Transaction Report
Form 4
Stern Shoshone (Bo)
Chief Investment Officer
Transactions
- Award
Performance Stock Units
2016-12-14+18,882→ 18,882 totalExercise: $13.24→ Common Stock (18,882 underlying) - Award
Deferred Stock Units
2016-12-14+16,361→ 16,361 totalExercise: $15.28→ Common Stock (16,361 underlying)
Footnotes (9)
- [F1]This transaction relates to the grant of Deferred Stock Units.
- [F2]Represents grant date fair value of the DSUs issued, based on the fair market value of RWT common stock on the transaction date under the 2014 Incentive Award Plan.
- [F3]25% vests 1/31/2018, 6.25% every quarter thereafter (beginning with the quarter end 3/31/2018). Fully vested 12/13/2020.
- [F4]No expiration date is applicable to deferred stock units.
- [F5]This transaction relates to the grant of Performance Stock Units ("PSUs"), which are performance-based equity awards. The number of underlying shares of common stock of Redwood Trust, Inc. ("Common Stock") that vest and that the recipient becomes entitled to receive at the time of vesting will generally range from 0% to 200% of a target number of PSUs granted, contingent on the achievement of a pre-established performance metric (with the target number of PSUs granted being adjusted to reflect the value of any dividends on Common Stock declared during the vesting period). Vesting of these PSUs will generally occur at the end of three years (on December 13, 2019) based on total stockholder return over four staggered two-year performance measurement periods and continued employment through December 13, 2019.
- [F6]Represents grant date fair value of the PSUs issued.
- [F7]Represents the target number of PSUs granted.
- [F8]Vested shares, if any, will be delivered to the Participant no later than December 31, 2019.
- [F9]No expiration date is applicable to performance stock units.