Donna Wells converts deferred units into Walker & Dunlop (WD) common shares

Rhea-AI Filing Summary

Walker & Dunlop director Donna Wells exercised deferred stock units into common shares. On March 13, 2026, she converted 1,381 fully vested deferred stock units into 1,381 shares of Walker & Dunlop common stock under the company’s Deferred Compensation Plan for Non-Employee Directors, bringing her direct holdings to 6,658 shares.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Wells Donna

(Last) (First) (Middle)

C/O WALKER & DUNLOP, INC.

7272 WISCONSIN AVENUE, SUITE 1300

(Street)

BETHESDA MD 20814

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Walker & Dunlop, Inc. [ WD ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
03/13/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/13/2026		M		1,381	A	$0.00	6,658	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Deferred Stock Units	(1)	03/13/2026		M			1,381	(2)	(2)	Common Stock	1,381	$0.00	0	D

Explanation of Responses:

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

2. The deferred stock units are fully vested and were settled in shares of the Issuer's common stock on March 13, 2026 pursuant to the Issuer's Deferred Compensation Plan for Non-Employee Directors.

	/s/ Nicholas C. Eckstein, Attorney-in-fact	03/17/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did Walker & Dunlop (WD) director Donna Wells report?

Donna Wells reported exercising 1,381 deferred stock units into 1,381 shares of Walker & Dunlop common stock. The conversion occurred on March 13, 2026, under the company’s Deferred Compensation Plan for Non-Employee Directors and increased her direct ownership to 6,658 common shares after the transaction.

Were any Walker & Dunlop (WD) shares sold in Donna Wells’s Form 4 filing?

No shares were sold in this Form 4. Donna Wells exercised 1,381 deferred stock units, receiving 1,381 Walker & Dunlop common shares at a stated price of $0.0000 per share, as part of a compensation plan, and ended with direct ownership of 6,658 shares after settlement.

What are the deferred stock units mentioned in Walker & Dunlop (WD) director filing?

Each deferred stock unit represents the right to receive one share of Walker & Dunlop common stock. In this filing, 1,381 fully vested deferred stock units for Donna Wells were settled in common shares on March 13, 2026, pursuant to the Deferred Compensation Plan for Non-Employee Directors.

How many Walker & Dunlop (WD) shares does Donna Wells hold after this transaction?

After converting 1,381 deferred stock units, Donna Wells directly holds 6,658 shares of Walker & Dunlop common stock. The filing shows no remaining derivative securities in her position, indicating that these deferred stock units were fully settled into common shares on March 13, 2026.

What does the M transaction code mean in the Walker & Dunlop (WD) Form 4?

The M code in this Form 4 indicates an exercise or conversion of a derivative security. Here, it reflects Donna Wells converting 1,381 deferred stock units into 1,381 shares of Walker & Dunlop common stock, with no open-market purchase or sale reported alongside this compensation-related transaction.