REDWOOD TRUST INC — Director's Dealing 2010

Oct 1, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: REDWOOD TRUST INC (RWT)
CIK: 0000930236
Period of Report: 2010-10-01

Reporting Person: Pero Jeffrey T (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-10-01	Stock Units in Deferred Compensation Plan	$14.46	A	1417.7	Acquired		Common Stock (1417.7)	Direct

Footnotes

F1: 100% vested at grant.

F2: No expiration date is applicable to deferred stock units.