Florkowski Gregory 4

What Happened

• Gregory Florkowski, CFO of Walker & Dunlop (WD), received equity awards on 2026-02-13 totaling 20,362 share-equivalents: 12,124 shares of restricted stock (granted, $0 cost), 5,492 deferred stock units (DSUs, derivative, $0), and 2,746 restricted stock units (RSUs, derivative, $0).
• To satisfy tax withholding related to the awards, 2,883 shares were surrendered/disposed at $61.86 per share for a total withholding value of $178,342. The awards themselves were granted at no cash cost to the insider.

Key Details

• Transaction date: February 13, 2026. Filing date: February 18, 2026 (filed after the typical two-business-day Form 4 deadline; likely one business day late given the Presidents' Day holiday).
• Prices: Awards granted at $0.00; tax-withholding shares disposed at $61.86 each (total $178,342).
• Shares acquired (awards): 12,124 restricted stock + 5,492 DSUs + 2,746 RSUs = 20,362 share-equivalents.
• Shares disposed (tax withholding): 2,883 shares surrendered.
• Shares owned after transaction: Not reported in the filing.
• Footnotes of note:
  • Restricted stock (12,124) vests in three equal annual installments beginning Feb 15, 2027. (F1)
  • Each DSU represents the right to one share; DSUs are fully vested and will be settled into shares on a date selected by the reporting person per the company’s plan. (F2, F3)
  • Each RSU represents the right to one share and will be settled on a date selected by the reporting person subject to plan provisions. (F4, F5)
  • The share disposition labeled "F" indicates shares were surrendered to satisfy tax withholding (not an open-market sale for investment).

Context

• This filing reflects award grants (not purchases) and a routine tax-withholding surrender of shares. DSUs and RSUs are derivative awards that translate into common stock later per the plan; restricted stock has multi-year vesting. These types of awards are common executive compensation actions and do not by themselves indicate a bullish or bearish signal.