Walker & Dunlop (NYSE: WD) director converts 1105 deferred stock units to shares

Rhea-AI Filing Summary

Walker & Dunlop director Dana L. Schmaltz exercised deferred stock units into common shares. On March 13, 2026, Schmaltz converted 1105 deferred stock units into 1105 shares of common stock at a stated price of $0.00 per share under the company’s Deferred Compensation Plan for Non-Employee Directors.

Following this compensation-related exercise, Schmaltz holds 83325 shares of Walker & Dunlop common stock directly. The deferred stock units were fully vested and represent one share of common stock each, and no shares were reported as sold in this filing.

Insider Trade Summary

1,105 shares exercised/converted

Mixed 2 txns

Insider SCHMALTZ DANA L

Role Director

Type	Security	Shares	Price	Value
Exercise	Deferred Stock Units	1,105	$0.00	--
Exercise	Common Stock	1,105	$0.00	--

Holdings After Transaction: Deferred Stock Units — 0 shares (Direct); Common Stock — 83,325 shares (Direct)

Footnotes (1)

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

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^*

SCHMALTZ DANA L

(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		1,105	A	$0	83,325	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			1,105	(2)	(2)	Common Stock	1,105	$0	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) report for Dana L. Schmaltz?

Walker & Dunlop director Dana L. Schmaltz exercised 1105 deferred stock units into 1105 shares of common stock. The transaction occurred on March 13, 2026 as part of the company’s Deferred Compensation Plan for Non-Employee Directors, with no reported open-market share sales.

How many Walker & Dunlop shares does Dana L. Schmaltz own after this Form 4 filing?

After exercising 1105 deferred stock units, Dana L. Schmaltz directly owns 83325 shares of Walker & Dunlop common stock. This total reflects his position following the March 13, 2026 conversion reported in the Form 4 and includes only direct ownership listed in the filing.

Was the Walker & Dunlop Form 4 transaction an open-market stock purchase or sale?

The Form 4 does not show any open-market purchase or sale. Instead, it reports a derivative exercise, where 1105 fully vested deferred stock units were settled into 1105 common shares at a stated price of $0.00 per share under a non-employee director compensation plan.

What are the deferred stock units reported in Walker & Dunlop director Dana Schmaltz’s filing?

Each deferred stock unit represents the right to receive one share of Walker & Dunlop common stock. In this filing, 1105 fully vested deferred stock units were settled in shares on March 13, 2026 pursuant to the company’s Deferred Compensation Plan for Non-Employee Directors, rather than through cash payment.

Did Dana L. Schmaltz retain any deferred stock units after this Walker & Dunlop transaction?

The Form 4 shows that 1105 deferred stock units were exercised and converted into 1105 common shares, with zero deferred stock units reported as remaining. The derivative summary is empty, indicating no additional deferred stock unit positions visible in this particular filing after the transaction.