Carillo Brooke 4

What Happened Brooke Carillo, Chief Financial Officer of Redwood Trust, converted Performance Stock Units (PSUs) into 19,274 shares of common stock on April 14, 2026. The conversion was recorded at $5.97 per share for a total reported value of $115,066. As part of the distribution, 22,579 shares were withheld to satisfy income tax withholding requirements.

Key Details

• Transaction date: April 14, 2026; Form filed April 15, 2026 (filed the next day).
• Conversion/Exercise (code M): 19,274 shares acquired at $5.97/share = $115,066 total.
• Tax withholding (code F): 22,579 shares withheld/ disposed to cover taxes; reported at $0 proceeds.
• Footnotes: These shares resulted from conversion/distribution of PSUs under the Executive Deferred Compensation Plan (F1–F4). PSUs had a mandatory holding/conversion window within 45 days following April 1, 2026 (F5). No other PSUs with the same original grant date are beneficially owned after these transactions (F7).
• Shares owned after transaction: The filing does not list total common shares held; it does state no remaining PSUs from the same grant date.

Context

• These were not open-market purchases or sales but the scheduled conversion/distribution of previously granted performance units. The withholding of shares to cover taxes is a routine compensation-related disposition, not a market sale for cash.
• Transaction codes: M = exercise/conversion of a derivative (PSU conversion); F = withholding of securities for tax liability.