Redwood Trust Reports Director Changes and Officer Appointments
Ticker: RWTO · Form: 8-K · Filed: Dec 13, 2024 · CIK: 930236
| Field | Detail |
|---|---|
| Company | Redwood Trust Inc (RWTO) |
| Form Type | 8-K |
| Filed Date | Dec 13, 2024 |
| Risk Level | low |
| Pages | 8 |
| Reading Time | 9 min |
| Key Dollar Amounts | $0.01, $8 |
| Sentiment | neutral |
Sentiment: neutral
Topics: corporate-governance, officer-appointment, director-election
Related Tickers: RWT
TL;DR
Redwood Trust (RWT) board shakeup and exec comp changes filed. Watch for new director elections.
AI Summary
Redwood Trust, Inc. filed an 8-K on December 13, 2024, reporting on the departure of a director, the election of new directors, and changes in officer appointments and compensatory arrangements. The filing also includes financial statements and exhibits, with the earliest event reported being December 12, 2024.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — This filing primarily concerns routine corporate governance changes and financial reporting, with no immediate indication of significant financial distress or major strategic shifts.
Key Players & Entities
- REDWOOD TRUST, INC. (company) — Registrant
- December 12, 2024 (date) — Earliest event reported
- December 13, 2024 (date) — Date of report
- Maryland (jurisdiction) — State of incorporation
- 001-13759 (company_id) — SEC file number
- 68-0329422 (tax_id) — I.R.S. Employer Identification No.
FAQ
Who has departed from Redwood Trust's board of directors?
The filing indicates the departure of a director, but the specific name is not provided in the provided text snippet.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on December 12, 2024.
What are the main items covered in this 8-K filing?
The filing covers the departure of directors, election of directors, appointment of officers, and compensatory arrangements, as well as financial statements and exhibits.
What is Redwood Trust, Inc.'s state of incorporation?
Redwood Trust, Inc. is incorporated in Maryland.
What is the SEC file number for Redwood Trust, Inc.?
The SEC file number for Redwood Trust, Inc. is 001-13759.
Filing Stats: 2,293 words · 9 min read · ~8 pages · Grade level 12.5 · Accepted 2024-12-13 17:05:24
Key Financial Figures
- $0.01 — ch registered Common stock, par value $0.01 per share RWT New York Stock Exchange
- $8 — fair value, as of November 22, 2024, of $8.12, which preliminary estimate will be
Filing Documents
- tm2430678d1_8k.htm (8-K) — 71KB
- tm2430678d1_ex10-1.htm (EX-10.1) — 50KB
- tm2430678d1_ex10-2.htm (EX-10.2) — 49KB
- tm2430678d1_ex10-3.htm (EX-10.3) — 100KB
- 0001104659-24-128502.txt ( ) — 549KB
- rwt-20241212.xsd (EX-101.SCH) — 3KB
- rwt-20241212_def.xml (EX-101.DEF) — 27KB
- rwt-20241212_lab.xml (EX-101.LAB) — 36KB
- rwt-20241212_pre.xml (EX-101.PRE) — 25KB
- tm2430678d1_8k_htm.xml (XML) — 6KB
02. Compensatory Arrangements of Certain Officers
Item 5.02. Compensatory Arrangements of Certain Officers. (e) At a meeting held on December 12, 2024, the Compensation Committee of the Board of Directors of Redwood Trust, Inc. (the "Company") considered and approved the following compensation matters for the Company's CEO and for certain other named executive officers of the Company noted below. 2024 Year-End Long-Term Equity Compensation Awards . On December 12, 2024, the Compensation Committee approved 2024 year-end long-term equity-based incentive ("LTI") awards to certain named executive officers of the Company to be granted on December 19, 2024. Three different types of equity-based awards were granted: Deferred Stock Units ("DSUs"), cash-settled Restricted Stock Units ("csRSUs"), and Performance Stock Units ("PSUs") pursuant to the Company's Second Amended and Restated 2014 Incentive Award Plan (the "2014 Incentive Plan"). The terms of each of these three types of awards are summarized below . The DSUs and csRSUs that were approved for grant will vest over four years, as follows: for DSUs, 25% of each award will vest on January 31, 2026, and an additional 6.25% will vest on the first day of each subsequent quarter (beginning April 1, 2026), with full vesting of the final 6.25% on December 18, 2028; for csRSUs, 25% of each award will vest on December 18, 2025, and an additional 25% will vest on each subsequent December 18 th (beginning December 18, 2026), with full vesting of the final 25% on December 18, 2028. The DSUs and csRSUs will vest in full upon a termination of service (i) either without "cause" or for "good reason", in either case, on or within 24 months following a change in control or externalization event, or (ii) due to the officer's death or disability. In addition, the DSUs and csRSUs are subject to partial or full accelerated vesting upon a termination of service due to the officer's "retirement". With respect to DSUs, shares of Company common stock underlying the DSUs will be distributed
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit10.1 Form of Deferred Stock Unit Award Agreement under 2014 Incentive Plan Exhibit10.2 Form of Cash-Settled Restricted Stock Unit Award Agreement under 2014 Incentive Plan Exhibit10.3 Form of Performance Stock Unit Award Agreement under 2014 Incentive Plan Exhibit 104 Cover Page Interactive Data File (embedded within the inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Date: December 13, 2024 REDWOOD TRUST, INC. By: /s/ Andrew P. Stone Name: Andrew P. Stone Title: Executive Vice President, Chief Legal Officer, and Secretary