Wells Donna 4

What Happened

• Donna Wells, a non-employee director of Walker & Dunlop (WD), had 1,381 deferred stock units fully vest and be settled into 1,381 shares on March 13, 2026. The Form 4 shows an acquisition of 1,381 shares at $0.00 and a corresponding disposition of 1,381 derivative units at $0.00 — i.e., the deferred units converted into common stock. No cash purchase or open-market sale of shares was reported.

Key Details

• Transaction date: March 13, 2026; Filing date: March 17, 2026 (appears timely).
• Reported amounts: 1,381 shares acquired at $0.00; 1,381 derivative units disposed at $0.00.
• Shares owned after transaction: Not specified in the filing excerpt provided.
• Footnotes: F1—each deferred stock unit (DSU) equals the right to one share; F2—DSUs were fully vested and settled into shares under the company’s Deferred Compensation Plan for Non‑Employee Directors.
• Transaction code: M indicates exercise or conversion of a derivative; the “disposed” entry reflects conversion of the derivative units, not a market sale.

Context

• This is a routine equity-compensation settlement for a director (DSUs converting to shares), not a buy or sell in the open market. Such conversions are generally administrative and do not necessarily signal the insider’s view of the company’s stock. The filing does not show any immediate cashless sale or tax-withholding share surrender in the excerpt provided.