Falcon Armando 4

What Happened

• Falcon Armando, a director of Redwood Trust, was granted 24,809 deferred stock units (DSUs) on May 19, 2026. The reported acquisition price is $0.00 because this was an award, not a cash purchase. The grant is a derivative award (DSUs) representing the right to receive common shares in the future.

Key Details

• Transaction date: 2026-05-19; reported on Form 4 filed 2026-05-20 (timely filing).
• Amount granted: 24,809 deferred stock units; consideration reported as $0.00 (award).
• Vesting/delivery: 100% vested at grant (F3); units subject to a mandatory holding period and will be delivered per the participant’s deferral election but no sooner than May 20, 2029 (F4).
• Other footnotes: Fair market value referenced for the grant date under the 2014 Incentive Award Plan (F1); DSUs have no expiration date (F5); transaction relates to Deferred Stock Units (F2).
• Shares owned after the transaction: not specified in the provided filing.

Context

• Deferred stock units are a form of equity compensation that entitle the recipient to receive shares (or equivalent value) at a later date; because delivery is deferred and units were granted (not purchased or sold), this is not an immediate market signal of buying or selling intent.
• The award was fully vested at grant but cannot be delivered until the deferral/delivery date conditions are met, so there is no immediate change in marketable share ownership.