Walker & Dunlop (NYSE: WD) CEO awarded new dividend equivalent rights

Rhea-AI Filing Summary

Walker William M reported acquisition or exercise transactions in this Form 4 filing.

Walker & Dunlop, Inc. Chairman & CEO William M. Walker received a grant of 47.3310 dividend equivalent rights on Common Stock. Each right is the economic equivalent of one share of common stock and accrued on restricted stock units, vesting proportionately with those units. Following this award, Walker holds a total of 151.7764 dividend equivalent rights.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Walker William M

Role Chairman & CEO

Type	Security	Shares	Price	Value
Grant/Award	Dividend Equivalent Rights	47.331	$0.00	--

Holdings After Transaction: Dividend Equivalent Rights — 151.776 shares (Direct)

Footnotes (1)

1. Each dividend equivalent right is the economic equivalent of one share of common stock of the Company. 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.

Key Figures

Dividend equivalent rights granted: 47.3310 rights Dividend equivalent rights after transaction: 151.7764 rights Underlying common stock: 47.3310 shares +1 more

4 metrics

Dividend equivalent rights granted 47.3310 rights Grant on dividend equivalent rights, transaction date March 27, 2026

Dividend equivalent rights after transaction 151.7764 rights Total dividend equivalent rights held by William M. Walker following grant

Underlying common stock 47.3310 shares Common Stock underlying the newly granted dividend equivalent rights

Transaction price per right $0.0000 Grant price for the dividend equivalent rights, indicating a compensation award

Key Terms

Dividend Equivalent Rights, restricted stock units, Common Stock, grant/award acquisition

4 terms

Dividend Equivalent Rights financial

"security_title: "Dividend Equivalent Rights""

Dividend equivalent rights are promises that mirror the cash payments shareholders get from a company’s profits, but they are paid to holders of certain awards (like stock options or restricted stock units) rather than to actual shares. Think of them as a paycheck top‑up that matches dividends while the award is not yet a real stock, and they matter to investors because they add to employee compensation costs and potential share dilution, affecting company profitability and per‑share value.

restricted stock units financial

"The dividend equivalent rights accrued on restricted stock units held by the reporting person"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

Common Stock financial

"underlying_security_title: "Common Stock""

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

grant/award acquisition financial

"transaction_action: "grant/award acquisition""

Form 4 Insider Transactions: What Each Field Means →

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

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Walker William M

(Last) (First) (Middle)

C/O WALKER & DUNLOP, INC.

7272 WISCONSIN AVENUE, SUITE 1300

(Street)

BETHESDA MARYLAND 20814

(City) (State) (Zip)

UNITED STATES

(Country)

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
X	Officer (give title below)		Other (specify below)
	Chairman & CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/27/2026

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

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

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

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

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
Dividend Equivalent Rights	(1)	03/27/2026		A		47.331		(2)	(2)	Common Stock	47.331	$0	151.7764	D

Explanation of Responses:

1. Each dividend equivalent right is the economic equivalent of one share of common stock of the Company.

2. 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.

	/s/ Nicholas C. Eckstein, Attorney-in-fact	03/31/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did Walker & Dunlop (WD) report in this Form 4?

Walker & Dunlop reported that Chairman & CEO William M. Walker received 47.3310 dividend equivalent rights linked to common stock. These rights accrued on his existing restricted stock units and increase his derivative-based compensation position with the company.

How many dividend equivalent rights does William M. Walker hold after this WD transaction?

After this transaction, William M. Walker holds a total of 151.7764 dividend equivalent rights. These derivative rights mirror the value of the company’s common stock and are tied to his restricted stock unit awards as they vest over time.

What are dividend equivalent rights in the Walker & Dunlop (WD) Form 4 filing?

Dividend equivalent rights are instruments economically equivalent to one share of Walker & Dunlop common stock. They accrue on restricted stock units and provide the holder with dividend-like value, vesting on the same schedule as the underlying restricted stock units.

How do the WD dividend equivalent rights vest for William M. Walker?

The dividend equivalent rights granted to William M. Walker vest proportionately with the restricted stock units to which they relate. As each portion of his restricted stock units vests, the associated dividend equivalent rights vest on the same schedule, aligning incentives with long-term equity awards.

Does the Walker & Dunlop Form 4 show an open-market buy or sell by the CEO?

No open-market purchase or sale is reported. The Form 4 shows an acquisition coded as a grant of dividend equivalent rights, a compensation-related award tied to existing restricted stock units rather than a discretionary market trade in Walker & Dunlop shares.

What security underlies the dividend equivalent rights in WD’s Form 4?

The dividend equivalent rights are based on Walker & Dunlop’s common stock. Each right is the economic equivalent of one share of common stock, and 47.3310 underlying common shares are associated with the newly granted rights disclosed in this insider filing.