Business Context and Reporting Period
Company: Redwood Trust, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: March 9, 2006
Reporting Period: Event date March 9, 2006
This filing reports a corporate governance change involving the Board of Directors. No financial performance data or operational metrics are included in this specific report.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This document is a current report regarding a personnel change and does not contain financial statements.
Material Changes
- Board Expansion: The Board of Directors increased the number of directors from eight to nine.
- New Director Election: Georganne C. Proctor was elected as a Class III director to fill the vacancy created by the board expansion.
- Committee Assignments: Ms. Proctor was appointed to the Audit Committee and the Governance and Nominating Committee.
Guidance, Outlook, and Risks
Management Commentary: The filing details Ms. Proctor's professional background, including roles as Executive Vice President at Golden West Financial Corporation, Senior Vice President and CFO at Bechtel Group, and Finance Director at The Walt Disney Company. She is currently retired and serves on the boards of Kaiser Aluminum Corporation and Eldergivers.
Compensation and Agreements: Ms. Proctor will receive compensation consistent with the Company's standard arrangements for non-employee directors. A standard indemnification agreement was executed, requiring the Company to indemnify and advance expenses to the maximum extent permitted by Maryland law.
Risks and Contingencies: The filing states there are no arrangements or understandings between Ms. Proctor and any other person regarding her election, and no reportable transactions exist under Item 404(a) of Regulation S-K.
Investor Verification Checklist
- Verify the updated composition of the Board of Directors and committee assignments in subsequent proxy statements.
- Review the Company's previously filed compensation arrangements for non-employee directors to confirm Ms. Proctor's compensation structure.
- Confirm the execution of the standard director indemnification agreement referenced in the filing.