Walker & Dunlop, Inc. — Director's Dealing 2019

Feb 20, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Walker & Dunlop, Inc. (WD)
CIK: 0001497770
Period of Report: 2019-02-15

Reporting Person: Lucas Richard M (EVP & Gen Counsel & Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-02-15	Common Stock	A	36650	—	Acquired	127826	Direct
2019-02-15	Common Stock	A	9175	—	Acquired	137001	Direct
2019-02-15	Common Stock	F	22399	$54.49	Disposed	114602	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-02-15	Deferred Stock Units	$	A	3670	Acquired		Common Stock (3670)	Direct
2019-02-15	Restricted Stock Units	$	A	1835	Acquired		Common Stock (1835)	Direct

Footnotes

F1: On March 21, 2016, the reporting person was granted an award of performance share units, which vest in the form of common stock if certain pre-established performance goals underlying the award are met over the course of a three-year period. On February 15, 2019, the Compensation Committee of the Issuer's Board of Directors determined that the performance goals had been met, resulting in the vesting of these shares.

F2: The restricted stock vests in three equal annual installments beginning on February 15, 2020.

F3: Each deferred stock unit represents the right to receive one share of common stock of the Issuer.

F4: The deferred stock units are fully vested and will be settled in shares of the Issuer's common stock either (i) on a date selected by the reporting person pursuant to the Issuer's Management Deferred Stock Unit Purchase Plan, as amended (the "Plan"), or (ii) as otherwise provided by the Plan.

F5: Each restricted stock unit represents the right to receive one share of common stock of the Issuer.

F6: The restricted stock units will be settled in shares of the Issuer's common stock on March 15 in the third calendar year following the grant date, subject to vesting acceleration pursuant to the Plan.