REDWOOD TRUST INC — Director's Dealing 2011

Jan 4, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: REDWOOD TRUST INC (RWT)
CIK: 0000930236
Period of Report: 2011-01-03

Reporting Person: PROCTOR GEORGANNE (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-01-03	Deferred Stock Units	$14.93	A	1557.27	Acquired		Common Stock (1557.27)	Direct

Footnotes

F1: 100% vested at grant.

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