Walker & Dunlop grants CEO performance stock units tied to relative TSR

Walker & Dunlop, Inc.

Award to CEO William Walker on Aug 24, 2025 under 2024 Equity Incentive Plan.
Plan Activation Hurdle: Annualized TSR at least 1 ppt above S&P 600 Small Cap Financials Index over 3 years.
Earned PSUs equal 5% of market cap growth exceeding 12% annualized TSR hurdle.
Max Earned PSUs capped at 521,526 shares or $50M divided by VWAP, whichever lower.
Vesting in three equal annual installments after earning, subject to continued employment.

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