RWT REDWOOD TRUST INC

Did the company actually spend money buying back stock in 3+ of the last 4 quarters?

Bought back stock in 2/4 quarters. Q2 2026: $8M, Q1 2026: $0M, Q3 2025: $0M, Q3 2023: $30M

Is the most recent quarter's buyback spend more than 15% above the trailing average?

Latest quarter $8M vs trailing avg $10M (-24%)

What percentage of free cash flow is going to buybacks? Bull: 30%+. Bear: negative FCF or no buybacks.

Buyback $37M / FCF $121M = 31% of FCF

How fast are they shrinking the float? Bull: 2%+ annually. Bear: under 0.5%.

Repurchased 1,078,743 shares = 0.9% of 124,459,837 outstanding (annualized)

Are officers and directors buying stock with their own money on the open market?

6 open-market purchases by 6 insiders

• Macomber Sasha G. (Chief Human Resource Officer) bought 4,895 shares at $4.08 on 2026-09-21
• Stone Andrew P (Chief Legal Officer) bought 5,000 shares at $4.12 on 2026-09-21
• Robinson Dashiell I (President) bought 63,211 shares at $3.98 on 2026-09-16
• KUBICEK GREG H () bought 50,000 shares at $3.85 on 2026-09-15
• Abate Christopher J (Chief Executive Officer) bought 100,000 shares at $3.84 on 2026-09-15
• Carillo Brooke (Chief Financial Officer) bought 26,065 shares at $3.85 on 2026-09-15

Are both company buybacks and insider buying independently active? Bull when the company is buying back stock in 2+ quarters and insiders have made 2+ open-market purchases.

Company buybacks in 2 quarters and 6 insider purchases by 6 insiders (no calendar overlap, but both independently active)

Over the last 90 days, are insiders net buyers or net sellers on the open market?

Insiders bought $1M, sold $0M in the last 90 days (net buying)

Active buyback + insiders net selling 3x+ more than buying. Company cash may be supporting price while insiders exit.

No buyback-insider divergence detected