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

Feb 4, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Walker & Dunlop, Inc. (WD)
CIK: 0001497770
Period of Report: 2025-01-31

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-01-31	Common Stock	A	7945.519	—	Acquired	61814.137	Direct
2025-01-31	Common Stock	F	2941	$96.07	Disposed	58873.137	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-01-31	Deferred Stock Units	$	M	5076	Disposed		Common Stock (5076)	Direct
2025-01-31	Restricted Stock Units	$	M	2538	Disposed		Common Stock (2538)	Direct
2025-01-31	Dividend Equivalent Rights	$	M	331.519	Disposed		Common Stock (331.519)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	38219	Indirect

Footnotes

F1: Each deferred stock unit represents the right to receive one share of common stock of the Issuer.

F2: The deferred stock units are fully vested and were settled in shares of the Issuer's common stock on January 31, 2025 pursuant to the Walker & Dunlop, Inc. Management Deferred Stock Unit Purchase Plan.

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

F4: The restricted stock units were settled in shares of the Issuer's common stock on January 31, 2025.

F5: The dividend equivalent rights accrued on restricted stock units held by the reporting person and vest proportionately with the restricted stock units to which they relate. Each dividend equivalent right is the economic equivalent of one share of common stock of the Issuer.