Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-09-08

Walker & Dunlop, Inc. (WD)

CEO William Walker was paid $15,500,252 in fiscal year 2025, ↑ up 104.6% from fiscal year 2024, the 87th percentile of its disclosed peer group (SEC filing 0001104659-26-038515 ↗): executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$15,500,252 ↑
William Walker total, FY2025
87th
CEO pay percentile vs peers
92:1
CEO-to-median pay ratio
70.92%
Say-on-pay support, latest vote

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WD's next annual pay disclosure, estimated April 19, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
William Walker$1,000,000$0$13,170,931$0$1,324,821$0$4,500$15,500,252
Chairman and Chief Executive Officer
Stephen Theobald650,00001,804,0490614,84504,5003,073,394
Executive Vice President and Chief Operating Officer
Gregory Florkowski500,00001,131,9380453,01304,5002,089,451
Executive Vice President and Chief Financial Officer
Daniel Groman400,0000949,9120412,41104,5001,766,823
Executive Vice President, General Counsel and Secretary
Paula Pryor425,0000900,8310297,56104,5001,627,892
Executive Vice President and Chief Human Resources Officer

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
William Walker$15,500,252$7,575,160$4,821,113↑ +7,925,092
Stephen Theobald3,073,3943,339,4381,947,260↓ −266,044
Gregory Florkowski2,089,4512,454,2791,589,765↓ −364,828
Daniel Groman1,766,8231,430,802—↑ +336,021
Paula Pryor1,627,8921,801,8521,339,419↓ −173,960

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

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$15,500,252 William Walker total, FY2025

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Data as of September 8, 2026 · Source: 0001104659-26-038515 · Velarion Executive Compensation Database, deposited on Zenodo (doi:10.5281/zenodo.22283855).

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01c

Board of directors

One page per director: the seat, the committees and the fee table, read for one person at a time.

DirectorRoleFY2025 total
Dana L. SchmaltzIndependent Director$269,951
Donna WellsIndependent Director$284,951
Ellen LevyIndependent Director$274,951
Ernest M. FreedmanIndependent Director$165,973
Gary S. PinkusIndependent Director$259,951
Jeffery R. HaywardIndependent Director$269,951
John RiceLead Independent Director$314,951
02

Equity transactions since the proxy statement was filed

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Dana L. SchmaltzDirector2026-05-19A3,096$0$0CommonForm 4 ↗
Ernest M. FreedmanDirector2026-05-19A3,09600CommonForm 4 ↗
Jeffery R. HaywardDirector2026-05-19A3,09600CommonForm 4 ↗
Ellen LevyDirector2026-05-19A3,09600Derivative, Class A CommonForm 4 ↗
Gary S. PinkusDirector2026-05-19A3,09600Derivative, Class A CommonForm 4 ↗
Dana L. SchmaltzDirector2026-05-19A2,47700Derivative, Class A CommonForm 4 ↗
Donna WellsDirector2026-05-19A3,09600Derivative, Class A CommonForm 4 ↗
John RiceDirector2026-05-19A3,09600CommonForm 4 ↗
Dividend-equivalent accruals2026-06-04—368——5 insiders, 5 accrual rows
Dividend-equivalent accruals2026-09-03—462——5 insiders, 5 accrual rows

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

View all 18 transactions
InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Dana L. SchmaltzDirector2026-05-19A3,096$0$0CommonForm 4 ↗
Ernest M. FreedmanDirector2026-05-19A3,09600CommonForm 4 ↗
Jeffery R. HaywardDirector2026-05-19A3,09600CommonForm 4 ↗
Ellen LevyDirector2026-05-19A3,09600Derivative, Class A CommonForm 4 ↗
Gary S. PinkusDirector2026-05-19A3,09600Derivative, Class A CommonForm 4 ↗
Dana L. SchmaltzDirector2026-05-19A2,47700Derivative, Class A CommonForm 4 ↗
Donna WellsDirector2026-05-19A3,09600Derivative, Class A CommonForm 4 ↗
John RiceDirector2026-05-19A3,09600CommonForm 4 ↗
Stephen TheobaldEVP & Chief Operating Officer2026-06-04A120.6100Derivative, Class A CommonForm 4 ↗
William M. WalkerDirector2026-06-04A40.0400Derivative, Class A CommonForm 4 ↗
Gregory FlorkowskiEVP & Chief Financial Officer2026-06-04A67.8600Derivative, Class A CommonForm 4 ↗
Daniel GromanEVP, GC, Secretary & CCO2026-06-04A97.800Derivative, Class A CommonForm 4 ↗
Paula PryorEVP and Chief HR Officer2026-06-04A41.2300Derivative, Class A CommonForm 4 ↗
Gregory FlorkowskiEVP & Chief Financial Officer2026-09-03A85.2200Derivative, Class A CommonForm 4 ↗
Paula PryorEVP and Chief HR Officer2026-09-03A51.7800Derivative, Class A CommonForm 4 ↗
William M. WalkerDirector2026-09-03A50.2900Derivative, Class A CommonForm 4 ↗
Stephen TheobaldEVP & Chief Operating Officer2026-09-03A151.4700Derivative, Class A CommonForm 4 ↗
Daniel GromanEVP, GC, Secretary & CCO2026-09-03A122.8200Derivative, Class A CommonForm 4 ↗
03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Gregory FlorkowskiPSU2025-03-194,3745,832—14,580$374,983
Gregory FlorkowskiRSU2025-02-14——1,527—131,994
Daniel GromanRSU2025-02-14——4,627—399,958
Paula PryorRSU2025-02-14——1,818—157,148
William WalkerPSU2025-03-1920,41240,825—102,0641,749,921
Paula PryorPSU2025-03-193,7184,957—12,393318,744
Stephen TheobaldRSU2025-02-14——11,279—974,957
Stephen TheobaldRSU2025-02-14——1,446—124,992
William WalkerRSU2025-02-14——34,706—2,999,987
William WalkerRSU2025-02-14——2,892—249,984
William WalkerPSU2025-08-24—139,626—521,5268,171,039
Gregory FlorkowskiRSU2025-02-14——7,230—624,961
Daniel GromanPSU2025-03-193,4994,665—11,664299,969
Daniel GromanRSU2025-02-14——2,892—249,985
Paula PryorRSU2025-02-14——4,916—424,939
Stephen TheobaldPSU2025-03-198,21316,427—41,068704,100
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Gregory Florkowski$756,955$374,983$033.1%
Daniel Groman649,943299,969031.6%
Paula Pryor582,087318,744035.4%
William Walker3,249,9719,920,960075.3%
Stephen Theobald1,099,949704,100039.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Daniel GromanPSU2,016—$121,262
Paula PryorRSU1,884—113,302
Paula PryorRSU1,376—82,766
Stephen TheobaldPSU10,267—617,530
Gregory FlorkowskiPSU4,368—262,735
Stephen TheobaldRSU5,585—335,964
Paula PryorRSU3,047—183,277
Gregory FlorkowskiPSU4,738—285,021
Stephen TheobaldRSU1,498—90,118
Stephen TheobaldRSU1,139—68,495
Daniel GromanRSU774—46,556
William WalkerPSU38,051—2,288,779
William WalkerRSU12,548—754,762
Stephen TheobaldPSU8,738—525,591
Gregory FlorkowskiRSU4,481—269,532
Paula PryorPSU4,028—242,269
Paula PryorPSU3,713—223,337
Gregory FlorkowskiRSU1,634—98,285
Daniel GromanRSU1,089—65,509
Gregory FlorkowskiRSU7,230—434,885
William WalkerPSU23,526—1,415,089
Daniel GromanPSU3,790—227,999
Stephen TheobaldRSU803—48,318
Gregory FlorkowskiRSU750—45,102
Paula PryorRSU4,916—295,697
William WalkerRSU2,996—180,236
William WalkerRSU2,848—171,306
Daniel GromanRSU1,517—91,248
Stephen TheobaldRSU5,378—323,487
William WalkerRSU34,706—2,087,566
William WalkerPSU25,515—1,534,742
Stephen TheobaldRSU11,279—678,432
William WalkerRSU4,874—293,171
Daniel GromanRSU4,627—278,314
Daniel GromanRSU2,996—180,236
Stephen TheobaldRSU1,864—112,120
Gregory FlorkowskiRSU1,582—95,166
05

Incentive-plan design — the Compensation Discussion & Analysis

Our executive compensation program is designed to provide a competitive and market-aligned total compensation package that attracts and rewards our executives for significant performance achievements. We believe that our compensation program should: align with stockholders interests and drive long-term value creation; support our business strategies and objectives; emphasize a pay-for-performance compensation approach; be market competitive; and encourage short- and long-term retention.

CEO STI target (% of salary)300%
CEO LTI target (% of salary)—
Independent consultantPay Governance
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-1918,276,3827,493,052723,05770.92%Passed
20252025-05-0126,777,105738,92084,20197.31%Passed
20242024-05-0226,688,263423,30028,00498.44%Passed
20232023-05-0424,857,697238,38030,34699.05%Passed
20222022-05-0525,661,045183,52456,31299.29%Passed
20212021-05-0624,349,209346,724990,21398.6%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-05-1970.92%a
20252025-05-0197.31%b
20242024-05-0298.44%c

a. Approved under the standard stated in the filing — “Abstentions and broker non-votes will not count as votes cast and will have no effect on the result of the vote on Proposal 1.”.

b. Approved under the standard stated in the filing — “Abstentions and broker non-votes will not count as votes cast and will have no effect on the result of the vote on Proposal 1.”.

c. Approved under the standard stated in the filing — “Abstentions and broker non-votes will not count as votes cast and will have no effect on the result of the vote on Proposal 1.”.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)92 : 1
CEO total compensation$15,500,252
Median employee compensation$169,308
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
John RiceIndependent · Lead Independent Director · Audit and Risk · Compensation (Chair) · Nominating and Corporate Governance$165,000$149,951$0$0$0$314,951
Donna WellsIndependent · Audit and Risk (Chair) · Nominating and Corporate Governance135,000149,951000284,951
Ellen LevyIndependent · Compensation · Nominating and Corporate Governance (Chair)125,000149,951000274,951
Jeffery R. HaywardIndependent · Audit and Risk · Compensation120,000149,951000269,951
Dana L. SchmaltzIndependent · Audit and Risk · Compensation · Nominating and Corporate Governance120,000149,951000269,951
Gary S. PinkusIndependent · Audit and Risk110,000149,951000259,951
Ernest M. FreedmanIndependent · Audit and Risk · Newly elected70,22095,753000165,973
William M. WalkerEmployee director · Board Chair000—00
09

Board fee structure and ownership guideline

Annual cash retainer$100,000
Annual equity retainer$150,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)25,000 / 25,000 / 15,000
Stock ownership guideline—
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$845,220
Equity awards (grant-date value)$995,459
All other compensation$0
Total cost of the board$1,840,679

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies Walker & Dunlop, Inc. names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Walker & Dunlop, Inc..

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Annaly Capital Management, Inc.2025David Finkelstein$1,000,000$9,483,629$0$0$19,270,629
2Kennedy-Wilson Holdings, Inc.2024William McMorrow1,500,0008,734,19603,735,00015,842,528
3Walker & Dunlop, Inc.2025William Walker1,000,00013,170,93101,324,82115,500,252
4Ladder Capital Corp2025Brian Harris1,000,0008,816,83304,124,70013,944,233
5PennyMac Financial Services, Inc.2025David Spector1,483,3335,437,4442,025,6873,608,25012,660,536
6Arbor Realty Trust, Inc.2025Ivan Kaufman1,200,0005,259,1520011,785,559
7Radian Group Inc.2025Richard Thornberry1,000,0007,085,347—3,120,00011,318,967
8Piper Sandler Companies2025Chad Abraham650,0003,735,3550011,030,039
9MGIC Investment Corporation2025Timothy Mattke1,050,0004,881,78302,236,2388,369,392
10Encore Capital Group, Inc.2025Ashish Masih923,0054,863,99902,307,4498,106,453
11Onity Group Inc.2025Glen Messina1,000,0004,473,18202,070,4647,554,146
12Marcus & Millichap, Inc.2025Hessam Nadji700,0003,495,95401,749,3106,273,083
13Redwood Trust, Inc.2025Christopher Abate975,0003,262,48101,808,0166,131,948
14BrightSpire Capital, Inc.2025Michael Mazzei800,0003,182,20901,701,0005,699,383
15American Assets Trust, Inc.2025Adam Wyll750,0002,228,9160952,5004,806,038
16Newmark Group, Inc.2025Barry Gosin1,000,0000002,668,848

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Walker & Dunlop, Inc.132%not disclosedNoPay Governance
American Assets Trust, Inc.191%PSU 100Yes — Relative Total Shareholder Return (TSR) vs. S&P 600 Real Estate Indexnot disclosed
Annaly Capital Management, Inc.142%PSU 60 · RSU 40NoSemler Brossy
Arbor Realty Trust, Inc.not disclosedPerformance-vesting restricted stock units (RSUs) 80 · Time-based vesting restricted stock 20Yes — Total Shareholder Return (TSR)not disclosed
BrightSpire Capital, Inc.97.2%RSU 50 · PRSU 50YesFerguson Partners
Encore Capital Group, Inc.200%not disclosedNoFW Cook
Kennedy-Wilson Holdings, Inc.not disclosedPSU 66 · RSU 33Yes — Relative TSRFerguson Partners Consulting L.P.
Ladder Capital Corpnot disclosedRSU 50 · PSU 50NoFTI Consulting, Inc.
Marcus & Millichap, Inc.72%PSU 50 · RSU 50NoFW Cook
MGIC Investment Corporationnot disclosedPSU 60 · RSU 40NoNot named — referred to only as 'the Compensation Consultant' throughout the CD&A
Newmark Group, Inc.not disclosednot disclosednot disclosedKorn Ferry
Onity Group Inc.not disclosednot disclosedYes — TSR relative to its peer groupWTW
PennyMac Financial Services, Inc.84.9%PSU 50 · RSU 25 · Options 25NoPearl Meyer
Piper Sandler Companiesnot disclosedPSU 100Yes — Relative TSRSemler Brossy
Radian Group Inc.not disclosedPSU 60 · RSU 40Yes — TSR during the performance period compares to the average TSR of our peer groupWillis Towers Watson
Redwood Trust, Inc.86%PSU 55 · RSU 45Yes — relative TSR (rTSR)Semler Brossy Consulting Group, LLC

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

10d

Frequently asked questions

Who was the highest-paid executive at Walker & Dunlop, Inc. in fiscal 2025?
As disclosed, William Walker (Chairman and Chief Executive Officer) was the highest-paid executive at Walker & Dunlop, Inc. in fiscal 2025, with total compensation of $15,500,252.
How does Walker & Dunlop, Inc.'s chief executive pay compare to its disclosed peer group?
As disclosed, William Walker's total compensation ranked at the 87th percentile of Walker & Dunlop, Inc.'s disclosed peer group.
What is Walker & Dunlop, Inc.'s CEO-to-median employee pay ratio?
As disclosed, Walker & Dunlop, Inc.'s CEO-to-median employee pay ratio was 92:1.
How did shareholders vote on Walker & Dunlop, Inc.'s executive compensation?
As disclosed, 70.92% of shareholders supported Walker & Dunlop, Inc.'s executive compensation in the latest say-on-pay vote.
How much does Walker & Dunlop, Inc. spend in total on board compensation for fiscal 2025?
As disclosed, Walker & Dunlop, Inc. reported total board compensation of $1,840,679 for fiscal 2025.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, William WalkerDEF 14A2026-04-010001104659-26-038515Section “2025 Summary Compensation Table”. As printed: 15,500,252. Filing ↗machine: t197 · r6 · c14 · span 849398–849408
2Section 01, Stephen TheobaldDEF 14A2026-04-010001104659-26-038515Section “2025 Summary Compensation Table”. As printed: 3,073,394. Filing ↗machine: t197 · r12 · c14 · span 870966–870975
3Section 01, Gregory FlorkowskiDEF 14A2026-04-010001104659-26-038515Section “2025 Summary Compensation Table”. As printed: 2,089,451. Filing ↗machine: t197 · r9 · c14 · span 860405–860414
4Section 01, Daniel GromanDEF 14A2026-04-010001104659-26-038515Section “2025 Summary Compensation Table”. As printed: 1,766,823. Filing ↗machine: t197 · r15 · c14 · span 881791–881800
5Section 01, Paula PryorDEF 14A2026-04-010001104659-26-038515Section “2025 Summary Compensation Table”. As printed: 1,627,892. Filing ↗machine: t197 · r18 · c14 · span 892513–892522
6Section 03, Gregory Florkowski PSUDEF 14A2026-04-010001104659-26-038515Section “Narrative Disclosures to Summary Compensation and Grants of Plan-Based Awards Tables” · grants of plan-based awards table. Filing ↗machine: span 1010388–1010395
7Section 03, Gregory Florkowski RSUDEF 14A2026-04-010001104659-26-038515Section “Narrative Disclosures to Summary Compensation and Grants of Plan-Based Awards Tables” · grants of plan-based awards table. Filing ↗machine: span 1000495–1000502
8Section 03, Daniel Groman RSUDEF 14A2026-04-010001104659-26-038515Section “Narrative Disclosures to Summary Compensation and Grants of Plan-Based Awards Tables” · grants of plan-based awards table. Filing ↗machine: span 1047111–1047118
9Section 03, Paula Pryor RSUDEF 14A2026-04-010001104659-26-038515Section “Narrative Disclosures to Summary Compensation and Grants of Plan-Based Awards Tables” · grants of plan-based awards table. Filing ↗machine: span 1078051–1078058
10Section 03, William Walker PSUDEF 14A2026-04-010001104659-26-038515Section “Narrative Disclosures to Summary Compensation and Grants of Plan-Based Awards Tables” · grants of plan-based awards table. Filing ↗machine: span 981160–981169
11Section 03, Paula Pryor PSUDEF 14A2026-04-010001104659-26-038515Section “Narrative Disclosures to Summary Compensation and Grants of Plan-Based Awards Tables” · grants of plan-based awards table. Filing ↗machine: span 1088704–1088711
12Section 03, Stephen Theobald RSUDEF 14A2026-04-010001104659-26-038515Section “Narrative Disclosures to Summary Compensation and Grants of Plan-Based Awards Tables” · grants of plan-based awards table. Filing ↗machine: span 1021105–1021112
13Section 03, Stephen Theobald RSUDEF 14A2026-04-010001104659-26-038515Section “Narrative Disclosures to Summary Compensation and Grants of Plan-Based Awards Tables” · grants of plan-based awards table. Filing ↗machine: span 1026463–1026470
14Section 03, William Walker RSUDEF 14A2026-04-010001104659-26-038515Section “Narrative Disclosures to Summary Compensation and Grants of Plan-Based Awards Tables” · grants of plan-based awards table. Filing ↗machine: span 966384–966393
15Section 03, William Walker RSUDEF 14A2026-04-010001104659-26-038515Section “Narrative Disclosures to Summary Compensation and Grants of Plan-Based Awards Tables” · grants of plan-based awards table. Filing ↗machine: span 971206–971213
16Section 03, William Walker PSUDEF 14A2026-04-010001104659-26-038515Section “Narrative Disclosures to Summary Compensation and Grants of Plan-Based Awards Tables” · grants of plan-based awards table. Filing ↗
17Section 03, Gregory Florkowski RSUDEF 14A2026-04-010001104659-26-038515Section “Narrative Disclosures to Summary Compensation and Grants of Plan-Based Awards Tables” · grants of plan-based awards table. Filing ↗machine: span 996055–996062
18Section 03, Daniel Groman PSUDEF 14A2026-04-010001104659-26-038515Section “Narrative Disclosures to Summary Compensation and Grants of Plan-Based Awards Tables” · grants of plan-based awards table. Filing ↗machine: span 1061982–1061989
19Section 03, Daniel Groman RSUDEF 14A2026-04-010001104659-26-038515Section “Narrative Disclosures to Summary Compensation and Grants of Plan-Based Awards Tables” · grants of plan-based awards table. Filing ↗machine: span 1052089–1052096
20Section 03, Paula Pryor RSUDEF 14A2026-04-010001104659-26-038515Section “Narrative Disclosures to Summary Compensation and Grants of Plan-Based Awards Tables” · grants of plan-based awards table. Filing ↗machine: span 1072693–1072700
21Section 03, Stephen Theobald PSUDEF 14A2026-04-010001104659-26-038515Section “Narrative Disclosures to Summary Compensation and Grants of Plan-Based Awards Tables” · grants of plan-based awards table. Filing ↗machine: span 1037119–1037126
22Section 07, pay ratioDEF 14A2026-04-010001104659-26-038515Section “CEO Pay Ratio”. As printed: 92 : 1. Filing ↗machine: span 1540434–1540438
23Section 08, John RiceDEF 14A2026-04-010001104659-26-038515Section “Director Compensation”. As printed: 314,951. Filing ↗machine: t255 · r4 · c6 · span 1695553–1695726
24Section 08, Donna WellsDEF 14A2026-04-010001104659-26-038515Section “Director Compensation”. As printed: 284,951. Filing ↗machine: t255 · r3 · c6 · span 1693937–1694110
25Section 08, Ellen LevyDEF 14A2026-04-010001104659-26-038515Section “Director Compensation”. As printed: 274,951. Filing ↗machine: t255 · r6 · c6 · span 1699050–1699223
26Section 08, Jeffery R. HaywardDEF 14A2026-04-010001104659-26-038515Section “Director Compensation”. As printed: 269,951. Filing ↗machine: t255 · r7 · c6 · span 1700859–1701032
27Section 08, Dana L. SchmaltzDEF 14A2026-04-010001104659-26-038515Section “Director Compensation”. As printed: 269,951. Filing ↗machine: t255 · r5 · c6 · span 1697433–1697606
28Section 08, Gary S. PinkusDEF 14A2026-04-010001104659-26-038515Section “Director Compensation”. As printed: 259,951. Filing ↗machine: t255 · r8 · c6 · span 1702686–1702859
29Section 08, Ernest M. FreedmanDEF 14A2026-04-010001104659-26-038515Section “Director Compensation”. As printed: 165,973. Filing ↗machine: t255 · r9 · c6 · span 1704834–1705007
30Section 08, William M. WalkerDEF 14A2026-04-010001104659-26-038515Section “Director Compensation”. As printed: 0. Filing ↗
31Section 02, Dana L. Schmaltz 2026-05-19Form 42026-05-210001104659-26-065263Insider equity transaction reported since the proxy statement. Filing ↗
32Section 02, Ernest M. Freedman 2026-05-19Form 42026-05-210001104659-26-065255Insider equity transaction reported since the proxy statement. Filing ↗
33Section 02, Jeffery R. Hayward 2026-05-19Form 42026-05-210001104659-26-065256Insider equity transaction reported since the proxy statement. Filing ↗
34Section 02, Ellen Levy 2026-05-19Form 42026-05-210001104659-26-065258Insider equity transaction reported since the proxy statement. Filing ↗
35Section 02, Gary S. Pinkus 2026-05-19Form 42026-05-210001104659-26-065260Insider equity transaction reported since the proxy statement. Filing ↗
36Section 02, Dana L. Schmaltz 2026-05-19Form 42026-05-210001104659-26-065263Insider equity transaction reported since the proxy statement. Filing ↗
37Section 02, Donna Wells 2026-05-19Form 42026-05-210001104659-26-065264Insider equity transaction reported since the proxy statement. Filing ↗
38Section 02, John Rice 2026-05-19Form 42026-05-210001104659-26-065262Insider equity transaction reported since the proxy statement. Filing ↗
39Section 02, Stephen Theobald 2026-06-04Form 42026-06-080001104659-26-071395Insider equity transaction reported since the proxy statement. Filing ↗
40Section 02, William M. Walker 2026-06-04Form 42026-06-080001104659-26-071388Insider equity transaction reported since the proxy statement. Filing ↗
41Section 02, Gregory Florkowski 2026-06-04Form 42026-06-080001104659-26-071390Insider equity transaction reported since the proxy statement. Filing ↗
42Section 02, Daniel Groman 2026-06-04Form 42026-06-080001104659-26-071391Insider equity transaction reported since the proxy statement. Filing ↗
43Section 02, Paula Pryor 2026-06-04Form 42026-06-080001104659-26-071393Insider equity transaction reported since the proxy statement. Filing ↗
44Section 02, Gregory Florkowski 2026-09-03Form 42026-09-080001104659-26-105919Insider equity transaction reported since the proxy statement. Filing ↗
45Section 02, Paula Pryor 2026-09-03Form 42026-09-080001104659-26-105922Insider equity transaction reported since the proxy statement. Filing ↗
46Section 02, William M. Walker 2026-09-03Form 42026-09-080001104659-26-105924Insider equity transaction reported since the proxy statement. Filing ↗
47Section 02, Stephen Theobald 2026-09-03Form 42026-09-080001104659-26-105926Insider equity transaction reported since the proxy statement. Filing ↗
48Section 02, Daniel Groman 2026-09-03Form 42026-09-080001104659-26-105921Insider equity transaction reported since the proxy statement. Filing ↗
49Section 06, 2026 voteForm 8-K2026-05-210001104659-26-065193Item 5.07 · say-on-pay result. As reported: 70.92% (votes for as printed: 18,276,382). Filing ↗
50Section 06, 2025 voteForm 8-K2025-05-050001104659-25-044532Item 5.07 · say-on-pay result. As reported: 97.31% (votes for as printed: 26,777,105). Filing ↗
51Section 06, 2024 voteForm 8-K2024-05-070001104659-24-058090Item 5.07 · say-on-pay result. As reported: 98.44% (votes for as printed: 26,688,263). Filing ↗
52Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
53Section 03b vehicle mix (computed)Computed——RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
54Section 09b board cost (computed)Computed——Cash 845,220 + equity 995,459 + all other 0 = 1,840,679, summed across the director compensation table rows.machine: formula: Σ = 1,840,679
55Annaly Capital Management, Inc., Section 10b CEO totalDEF 14A2026-04-300001104659-26-052954CEO total compensation as printed in Annaly Capital Management, Inc.'s own proxy. As printed: 19,270,629. Filing ↗machine: t91 · r1 · c36 · span 1399922–1399932
56Kennedy-Wilson Holdings, Inc., Section 10b CEO totalDEF 14A2025-04-250000950170-25-058797CEO total compensation as printed in Kennedy-Wilson Holdings, Inc.'s own proxy. As printed: 15,842,528. Filing ↗machine: span 1349719–1349729
57Walker & Dunlop, Inc. (subject), Section 10b CEO totalDEF 14A2026-04-010001104659-26-038515CEO total compensation as printed in Walker & Dunlop, Inc.'s own proxy. As printed: 15,500,252. Filing ↗machine: t197 · r6 · c14 · span 849398–849408
58Ladder Capital Corp, Section 10b CEO totalDEF 14A2026-04-210001577670-26-000018CEO total compensation as printed in Ladder Capital Corp's own proxy. As printed: 13,944,233. Filing ↗machine: r3 · c36 · span 603013–603023
59PennyMac Financial Services, Inc., Section 10b CEO totalDEF 14A2026-04-200001193125-26-164086CEO total compensation as printed in PennyMac Financial Services, Inc.'s own proxy. As printed: 12,660,536. Filing ↗machine: r3 · c26 · span 1032650–1032660
60Arbor Realty Trust, Inc., Section 10b CEO totalDEF 14A2026-04-160001253986-26-000027CEO total compensation as printed in Arbor Realty Trust, Inc.'s own proxy. As printed: 11,785,559. Filing ↗machine: span 343111–343121
61Radian Group Inc., Section 10b CEO totalDEF 14A2026-04-020001193125-26-140155CEO total compensation as printed in Radian Group Inc.'s own proxy. As printed: 11,318,967. Filing ↗
62Piper Sandler Companies, Section 10b CEO totalDEF 14A2026-04-090001104659-26-041101CEO total compensation as printed in Piper Sandler Companies's own proxy. As printed: 11,030,039. Filing ↗machine: t78 · r1 · c41 · span 720190–720200
63MGIC Investment Corporation, Section 10b CEO totalDEF 14A2026-03-200000876437-26-000013CEO total compensation as printed in MGIC Investment Corporation's own proxy. As printed: 8,369,392. Filing ↗machine: r2 · c24 · span 727151–727160
64Encore Capital Group, Inc., Section 10b CEO totalDEF 14A2026-04-290001084961-26-000030CEO total compensation as printed in Encore Capital Group, Inc.'s own proxy. As printed: 8,106,453. Filing ↗machine: span 506772–506781
65Onity Group Inc., Section 10b CEO totalDEF 14A2026-04-140001493152-26-016598CEO total compensation as printed in Onity Group Inc.'s own proxy. As printed: 7,554,146. Filing ↗machine: r1 · c31 · span 1042848–1042857
66Marcus & Millichap, Inc., Section 10b CEO totalDEF 14A2026-03-180001193125-26-113930CEO total compensation as printed in Marcus & Millichap, Inc.'s own proxy. As printed: 6,273,083. Filing ↗
67Redwood Trust, Inc., Section 10b CEO totalDEF 14A2026-03-310000930236-26-000011CEO total compensation as printed in Redwood Trust, Inc.'s own proxy. As printed: 6,131,948. Filing ↗machine: span 755087–755096
68BrightSpire Capital, Inc., Section 10b CEO totalDEF 14A2026-04-010001717547-26-000026CEO total compensation as printed in BrightSpire Capital, Inc.'s own proxy. As printed: 5,699,383. Filing ↗machine: t89 · r7 · c18 · span 543725–543734
69American Assets Trust, Inc., Section 10b CEO totalDEF 14A2026-04-100001500217-26-000023CEO total compensation as printed in American Assets Trust, Inc.'s own proxy. As printed: 4,806,038. Filing ↗machine: r5 · c54 · span 545070–545079
70Newmark Group, Inc., Section 10b CEO totalDEF 14A2026-08-070001213900-26-086659CEO total compensation as printed in Newmark Group, Inc.'s own proxy. As printed: 2,668,848. Filing ↗machine: span 748647–748656
71Section 10a, Kennedy-Wilson Holdings, Inc. reciprocityDEF 14A—0000950170-25-058797Kennedy-Wilson Holdings, Inc.'s most recent proxy was read; its disclosed peer group does not include Walker & Dunlop, Inc.. Filing ↗
72Section 10a, Newmark Group, Inc. reciprocityDEF 14A—0001213900-26-086659Newmark Group, Inc.'s most recent proxy was read; its disclosed peer group does not include Walker & Dunlop, Inc.. Filing ↗
73Section 10a, Redwood Trust, Inc. reciprocityDEF 14A—0000930236-26-000011Redwood Trust, Inc. names Walker & Dunlop, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
74Section 10a, Ladder Capital Corp reciprocityDEF 14A—0001577670-26-000018Ladder Capital Corp names Walker & Dunlop, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
75Section 10a, Onity Group Inc. reciprocityDEF 14A—0001641172-25-004690Onity Group Inc. names Walker & Dunlop, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
76Section 10a, American Assets Trust, Inc. reciprocityDEF 14A—0001500217-26-000023American Assets Trust, Inc.'s most recent proxy was read; its disclosed peer group does not include Walker & Dunlop, Inc.. Filing ↗
77Section 10a, Piper Sandler Companies reciprocityDEF 14A—0001104659-26-041101Piper Sandler Companies's most recent proxy was read; its disclosed peer group does not include Walker & Dunlop, Inc.. Filing ↗
78Section 10a, BrightSpire Capital, Inc. reciprocityDEF 14A—0001717547-26-000026BrightSpire Capital, Inc. names Walker & Dunlop, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
79Section 10a, Annaly Capital Management, Inc. reciprocityDEF 14A—0001104659-26-052954Annaly Capital Management, Inc.'s most recent proxy was read; its disclosed peer group does not include Walker & Dunlop, Inc.. Filing ↗
80Section 10a, Radian Group Inc. reciprocityDEF 14A—0001193125-26-140155Radian Group Inc. names Walker & Dunlop, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
81Section 10a, Marcus & Millichap, Inc. reciprocityDEF 14A—0001193125-26-113930Marcus & Millichap, Inc. names Walker & Dunlop, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
82Section 10a, MGIC Investment Corporation reciprocityDEF 14A—0000876437-26-000013MGIC Investment Corporation names Walker & Dunlop, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗

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