Walker & Dunlop (NYSE: WD) EVP granted 115 dividend equivalent rights tied to RSUs

Rhea-AI Filing Summary

Walker & Dunlop EVP and General Counsel Daniel J. Groman received a grant of dividend equivalent rights tied to existing equity awards. On this Form 4, he acquired 115.601 dividend equivalent rights, each economically equal to one share of Walker & Dunlop common stock. These rights accrued on restricted stock units he already holds and will vest over time in step with those underlying restricted stock units. Following this grant, his directly held dividend equivalent rights total 285.146, reflecting routine, compensation-related adjustments rather than open-market trading.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Groman Daniel J

Role EVP, GC, Secretary & CCO

Type	Security	Shares	Price	Value
Grant/Award	Dividend Equivalent Rights	115.601	$0.00	--

Holdings After Transaction: Dividend Equivalent Rights — 285.146 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: 115.601 rights Total dividend equivalent rights after grant: 285.146 rights Grant price per right: $0.0000 +2 more

5 metrics

Dividend equivalent rights granted 115.601 rights Grant on 2026-03-27, economic equivalent of common stock share-for-share

Total dividend equivalent rights after grant 285.146 rights Direct holdings following reported acquisition

Grant price per right $0.0000 Compensation-related award, not an open-market purchase

Underlying common stock equivalent 115.601 shares Each dividend equivalent right equals one share of common stock

Number of acquire-type transactions 1 transaction Derivative grant, no reported sales or exercises

Key Terms

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

4 terms

Dividend Equivalent Rights financial

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

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 and vest proportionately..."

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

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

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, or other acquisition financial

"transaction_code_description: Grant, award, or other 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^*

Groman Daniel J

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, GC, Secretary & CCO

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		115.601		(2)	(2)	Common Stock	115.601	$0	285.146	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 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 did WD executive Daniel J. Groman report in this Form 4?

Daniel J. Groman reported receiving 115.601 dividend equivalent rights. These are compensation-related derivatives that mirror Walker & Dunlop common stock and accrued on his existing restricted stock units, increasing his total dividend equivalent rights position to 285.146 after the grant.

Are the WD Form 4 transactions open-market stock purchases or sales?

No, the reported transaction is not an open-market trade. It reflects a grant of 115.601 dividend equivalent rights tied to restricted stock units, awarded at a price of $0.0000 per right as part of compensation rather than a market purchase or sale.

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

Dividend equivalent rights are derivatives economically equivalent to one share of Walker & Dunlop common stock. In this filing, they accrue on Daniel J. Groman’s restricted stock units and will vest proportionately with those underlying units instead of being immediately exercisable or tradable securities.

How many dividend equivalent rights does Daniel J. Groman hold after this WD filing?

After this reported grant, Daniel J. Groman holds 285.146 dividend equivalent rights directly. This total includes the newly acquired 115.601 rights that accrued on his existing restricted stock units and will vest as those underlying equity awards vest over time.

Does this Walker & Dunlop Form 4 indicate a change in insider sentiment?

The filing mainly records a routine compensation-related grant of dividend equivalent rights. Because it reflects automatic accruals on existing restricted stock units, rather than discretionary buying or selling, it offers limited insight into any change in insider market sentiment toward WD shares.