REDWOOD TRUST INC — Director's Dealing 2011

Jan 21, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: REDWOOD TRUST INC (RWT)
CIK: 0000930236
Period of Report: 2011-01-21

Reporting Person: Abate Christopher J (Controller, Managing Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-01-21	Deferred Stock Units	$15.06	A	22.94	Acquired		Common Stock (22.94)	Direct

Footnotes

F1: 100% Vested on January 1st, 2013

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