Redwood Trust Management

Management criteria checks 2/4

Redwood Trust's CEO is Chris Abate, appointed in May 2018, has a tenure of 5.92 years. total yearly compensation is $7.02M, comprised of 12.8% salary and 87.2% bonuses, including company stock and options. directly owns 0.3% of the company’s shares, worth €2.11M. The average tenure of the management team and the board of directors is 6 years and 6.3 years respectively.

Key information

Chris Abate

Chief executive officer

US$7.0m

Total compensation

CEO salary percentage	12.8%
CEO tenure	5.9yrs
CEO ownership	0.3%
Management average tenure	6yrs
Board average tenure	6.3yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Chris Abate's remuneration changed compared to Redwood Trust's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	US$7m	US$900k	-US$13m
Sep 30 2023	n/a	n/a	-US$76m
Jun 30 2023	n/a	n/a	-US$94m
Mar 31 2023	n/a	n/a	-US$196m
Dec 31 2022	US$5m	US$900k	-US$168m
Sep 30 2022	n/a	n/a	-US$81m
Jun 30 2022	n/a	n/a	US$57m
Mar 31 2022	n/a	n/a	US$245m
Dec 31 2021	US$14m	US$800k	US$309m
Sep 30 2021	n/a	n/a	US$320m
Jun 30 2021	n/a	n/a	US$372m
Mar 31 2021	n/a	n/a	US$450m
Dec 31 2020	US$6m	US$767k	-US$584m
Sep 30 2020	n/a	n/a	-US$590m
Jun 30 2020	n/a	n/a	-US$694m
Mar 31 2020	n/a	n/a	-US$828m
Dec 31 2019	US$7m	US$750k	US$164m
Sep 30 2019	n/a	n/a	US$116m
Jun 30 2019	n/a	n/a	US$122m
Mar 31 2019	n/a	n/a	US$123m
Dec 31 2018	US$5m	US$646k	US$116m
Sep 30 2018	n/a	n/a	US$147m
Jun 30 2018	n/a	n/a	US$142m
Mar 31 2018	n/a	n/a	US$146m
Dec 31 2017	US$4m	US$550k	US$137m

Compensation vs Market: Chris's total compensation ($USD7.02M) is above average for companies of similar size in the German market ($USD1.29M).

Compensation vs Earnings: Chris's compensation has increased whilst the company is unprofitable.

CEO

Chris Abate (43 yo)

5.9yrs

Tenure

US$7,021,779

Compensation

Mr. Christopher J. Abate, also known as Chris, has been the Chief Executive Officer of Redwood Trust, Inc. since May 22, 2018 and its Director since December 04, 2017. Mr. Abate has been employed with Redw...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Christopher Abate	CEO & Director	5.9yrs	US$7.02m	0.30% $ 2.1m
Dashiell Robinson	President & Director	6.3yrs	US$6.11m	0.16% $ 1.1m
Brooke Carillo	Chief Financial Officer	2.9yrs	US$9.10m	0.032% $ 222.9k
Fred Matera	Co-Head of Business Purpose Lending & Chief Investment Officer	1.6yrs	US$8.44m	0.046% $ 325.6k
Andrew Stone	Executive VP	15.3yrs	US$2.67m	0.11% $ 798.5k
Sasha Macomber	Chief Human Resource Officer	6yrs	US$2.47m	0.039% $ 271.6k
Kaitlyn Mauritz	MD & Head of Investor Relations	no data	no data	no data
Tuan Pham	MD & Head of Marketing	no data	no data	no data
Shoshone Stern	Head of Portfolio Strategy & Risk	no data	US$1.85m	no data
Andrew Gillmer	MD & Portfolio Manager	no data	no data	no data
Carlene Graham	Chief Operating Officer of Residential Business	no data	no data	no data
Jonathan Groesbeck	MD & Head of Business Development	no data	no data	no data

6.0yrs

Average Tenure

45yo

Average Age

Experienced Management: R2V's management team is seasoned and experienced (6 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Christopher Abate	CEO & Director	6.3yrs	US$7.02m	0.30% $ 2.1m
Dashiell Robinson	President & Director	2.7yrs	US$6.11m	0.16% $ 1.1m
Douglas Hansen	Independent Director	30.3yrs	US$223.00k	0.30% $ 2.1m
Greg Kubicek	Independent Chairman	22.3yrs	US$360.00k	0.082% $ 578.2k
Georganne Proctor	Independent Director	18.1yrs	US$276.07k	no data
Debora Horvath	Independent Director	8.1yrs	US$260.00k	0.035% $ 246.3k
Armando Falcon	Independent Director	3.1yrs	US$260.00k	0.0051% $ 36.0k
Faith Schwartz	Independent Director	3.1yrs	US$240.00k	0.0051% $ 36.0k
Doneene Damon	Independent Director	less than a year	US$88.27k	no data

6.3yrs

Average Tenure

64yo

Average Age

Experienced Board: R2V's board of directors are considered experienced (6.3 years average tenure).

Redwood Trust Management

Management criteria checks 2/4

Key information

Recent management updates

Redwood Trust, Inc., Annual General Meeting, May 21, 2024

Redwood Trust Announces the Appointment of Doneene Damon to its Board of Directors, Effective November 2, 2023

Redwood Trust, Inc. Announces Executive Changes

Redwood Trust Appoints Ryan McBride as Chief Investment Officer of RWT Horizons

Redwood Trust, Inc., Annual General Meeting, May 24, 2022

High number of new directors

Recent updates

Redwood Trust, Inc. to Report Q1, 2024 Results on Apr 30, 2024

Redwood Trust, Inc., Annual General Meeting, May 21, 2024

Upcoming dividend of US$0.16 per share

Fourth quarter dividend of US$0.16 announced

Redwood Trust, Inc. Declares First Quarter 2024 Common Dividend, Payable on March 28, 2024

Full year 2023 earnings released: US$0.077 loss per share (vs US$1.43 loss in FY 2022)

Redwood Trust, Inc. to Report Q4, 2023 Results on Feb 20, 2024

Upcoming dividend of US$0.16 per share at 9.1% yield

Redwood Trust, Inc. Declares a Fourth Quarter 2023 Regular Common Stock Dividend, Payable on December 28, 2023

Redwood Trust Announces the Appointment of Doneene Damon to its Board of Directors, Effective November 2, 2023

Now 20% undervalued after recent price drop

New minor risk - Shareholder dilution

Redwood Trust, Inc. to Report Q3, 2023 Results on Oct 30, 2023

Now 20% undervalued

Second quarter 2023 earnings released: EPS: US$0.009 (vs US$0.84 loss in 2Q 2022)

Redwood Trust, Inc. to Report Q2, 2023 Results on Jul 27, 2023

Redwood Trust, Inc. Declares Regular Common Stock Dividend for the Second Quarter of 2023, Payable on June 30, 2023

Redwood Trust, Inc. to Report Q4, 2022 Results on Feb 09, 2023

Redwood Trust, Inc. Announces Regular Dividend for the Fourth Quarter of 2022, Payable on December 28, 2022

Third quarter 2022 earnings released: US$0.43 loss per share (vs US$0.76 profit in 3Q 2021)

Redwood Trust, Inc. to Report Q3, 2022 Results on Oct 27, 2022

Redwood Trust, Inc. Announces Executive Changes

Redwood Trust Announces Dividend for the Third Quarter of 2022, Payable on September 30, 2022

Second quarter 2022 earnings released: US$0.84 loss per share (vs US$0.77 profit in 2Q 2021)

Redwood Trust, Inc. (NYSE:RWT) announces an Equity Buyback for $125 million worth of its shares.

Redwood Trust, Inc. to Report Q2, 2022 Results on Jul 28, 2022

Upcoming dividend of US$0.23 per share

Investor sentiment deteriorated over the past week

Redwood Trust, Inc. Declares A Second Quarter 2022 Regular Common Stock Dividend, Payable on June 30, 2022

First quarter 2022 earnings released: EPS: US$0.22 (vs US$0.84 in 1Q 2021)

Redwood Trust, Inc. to Report Q1, 2022 Results on Apr 28, 2022

Redwood Trust Appoints Ryan McBride as Chief Investment Officer of RWT Horizons

Redwood Trust, Inc., Annual General Meeting, May 24, 2022

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

Third quarter 2021 earnings released: EPS US$0.75 (vs US$1.22 in 3Q 2020)

Redwood Trust, Inc. Announces Pricing Of The Market's First Non-Agency Residential Mortgage-Backed Securitization Leveraging Blockchain-Based Technology

High number of new directors

High number of new directors

High number of new directors

Chief Financial Officer recently bought €213k worth of stock

Second quarter 2021 earnings released: EPS US$0.77 (vs US$1.12 in 2Q 2020)

First quarter 2021 earnings released: EPS US$0.69 (vs US$8.24 loss in 1Q 2020)

Upcoming Dividend of US$0.16 Per Share

Redwood Trust, Inc. Declares Regular Quarterly Common Stock Dividend for the First Quarter of 2021, Payable on March 31, 2021

New 90-day high: €8.45

Full year 2020 earnings released: US$5.12 loss per share (vs US$1.63 profit in FY 2019)

Full year 2020 earnings released: US$5.11 loss per share (vs US$1.63 profit in FY 2019)

New 90-day high: €7.95

Redwood Trust, Inc.(NYSE:RWT) dropped from Russell 2000 Value-Defensive Index

Redwood Trust, Inc. to Report Q4, 2020 Results on Feb 10, 2021

New 90-day high: €7.70

Third quarter 2020 earnings released: EPS US$1.22

Third quarter earnings released

New 90-day high: €7.15

Redwood Trust, Inc. to Report Q3, 2020 Results on Oct 29, 2020

New 90-day high: €6.70

New 90-day high: €6.60

First half earnings released

Redwood Trust, Inc. to Report Q2, 2020 Results on Jul 30, 2020

Redwood Trust, Inc.(NYSE:RWT) dropped from Russell 2000 Defensive Index

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age

Board Members

Average Tenure