<SEC-DOCUMENT>0001104659-19-075171.txt : 20191220
<SEC-HEADER>0001104659-19-075171.hdr.sgml : 20191220
<ACCEPTANCE-DATETIME>20191220181433
ACCESSION NUMBER:		0001104659-19-075171
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20191220
FILED AS OF DATE:		20191220
DATE AS OF CHANGE:		20191220

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Stone Andrew P
		CENTRAL INDEX KEY:			0001487805

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13759
		FILM NUMBER:		191303019

	MAIL ADDRESS:	
		STREET 1:		1 BELVEDERE PLACE, STE. 300
		CITY:			MILL VALLEY
		STATE:			CA
		ZIP:			94941

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			REDWOOD TRUST INC
		CENTRAL INDEX KEY:			0000930236
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				680329422
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		ONE BELVEDERE PLACE
		STREET 2:		SUITE 300
		CITY:			MILL VALLEY
		STATE:			CA
		ZIP:			94941
		BUSINESS PHONE:		(415) 380-2317

	MAIL ADDRESS:	
		STREET 1:		ONE BELVEDERE PLACE
		STREET 2:		SUITE 300
		CITY:			MILL VALLEY
		STATE:			CA
		ZIP:			94941
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>tm19263763_form4.xml
<DESCRIPTION>FORM 4
<TEXT>
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    <periodOfReport>2019-12-20</periodOfReport>

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        <issuerName>REDWOOD TRUST INC</issuerName>
        <issuerTradingSymbol>RWT</issuerTradingSymbol>
    </issuer>

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            <rptOwnerCik>0001487805</rptOwnerCik>
            <rptOwnerName>Stone Andrew P</rptOwnerName>
        </reportingOwnerId>
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            <rptOwnerStreet1>1 BELVEDERE PLACE, STE. 300</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>MILL VALLEY</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94941</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
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        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>General Counsel</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

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                <value>Common Stock</value>
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                <transactionPricePerShare>
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                </directOrIndirectOwnership>
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    <footnotes>
        <footnote id="F1">This transaction relates to the distribution and/or conversion of Performance Stock Units and Deferred Stock Units to common stock under the Executive Deferred Compensation Plan.</footnote>
        <footnote id="F2">Represents the value (per stock unit or share of common stock) of the distribution and/or conversion of Performance Stock Units and Deferred Stock Units to common stock under the Executive Deferred Compensation Plan, based on the fair market value of Redwood Trust, Inc. common stock on the transaction date.</footnote>
        <footnote id="F3">Transaction made pursuant to a 10b5-1 trading plan adopted by the Reporting Person earlier in 2019.</footnote>
        <footnote id="F4">This transaction was executed in multiple trades with prices ranging from $16.55 to $16.68, inclusive. The price reported in Column 4 above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each respective price within the range set forth in this footnote.</footnote>
        <footnote id="F5">Represents fair value per stock unit of Performance Stock Units or Deferred Stock Units, based on the original grant date fair value determined at such time in accordance with FASB Accounting Standards Codification Topic 718.</footnote>
        <footnote id="F6">Performance Stock Units and Deferred Stock Units were subject to a mandatory holding period and conversion and/or distribution to the Reporting Person is at the time provided in the applicable deferral election form, in accordance with the terms and conditions of the Executive Deferred Compensation Plan.</footnote>
        <footnote id="F7">No expiration date is applicable to Performance Stock Units and Deferred Stock Units.</footnote>
        <footnote id="F8">This disposition transaction represents a Compensation Committee approved withholding of securities incident to the payment of income tax liability relating to the distribution and/or conversion of Performance Stock Units and/or Deferred Stock Units under the Executive Deferred Compensation Plan.</footnote>
        <footnote id="F9">Following these reported transactions, no other Performance Stock Units and/or Deferred Stock Units with the same original grant date are beneficially owned.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Andrew P. Stone</signatureName>
        <signatureDate>2019-12-20</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
