Walker & Dunlop, Inc. — Director's Dealing 2025

Feb 19, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Walker & Dunlop, Inc. (WD)
CIK: 0001497770
Period of Report: 2025-02-14

Reporting Person: THEOBALD STEPHEN P (EVP & Chief Operating Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-02-14	Common Stock	A	11279	—	Acquired	70152.1370	Direct
2025-02-14	Common Stock	F	2301	$86.44	Acquired	67851.1370	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-02-14	Deferred Stock Units	$	A	2892	Acquired		Common Stock (2892)	Direct
2025-02-14	Restricted Stock Units	$	A	1446	Acquired		Common Stock (1446)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	38219	Indirect

Footnotes

F1: The restricted stock vests in three equal annual installments beginning on February 15, 2026.

F2: Each deferred stock unit represents the right to receive one share of common stock of the Issuer.

F3: 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.

F4: Each restricted stock unit represents the right to receive one share of common stock of the Issuer.

F5: The restricted stock units will be settled in shares of the Issuer's common stock on a date selected by the reporting person pursuant to the Plan, subject to vesting acceleration pursuant to the Plan.