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Walker & Dunlop Executive Compensation (FY25)

WD · Bethesda, MD · Executive and director compensation, fiscal 2022 to 2025
Data as of September 7, 2026Latest filing (8-K): May 21, 2026
298 figures on this page: 287 cited to the filing that reported them, 11 calculated from figures it prints. See the citations
The disclosed peer group includes American Assets Trust, Inc., Annaly Capital Management, Inc., Arbor Realty Trust, Inc., BrightSpire Capital, Inc. and Encore Capital Group, Inc., among others. Meanwhile, William Walker was paid $15,500,252 in total compensation as Chairman and Chief Executive Officer for fiscal 2025, and Walker's total was 104.6% higher than the $7,575,160 reported for fiscal 2024, and the company reported a chief executive pay ratio of 92:1 for fiscal 2025, against median employee compensation of $169,308. Shareholders supported the say-on-pay proposal with 70.9% of votes cast for or against in favor at the meeting held May 19, 2026 for fiscal 2025.
Chief executive, fiscal 2025
◇
William Walker
Latest say-on-pay support
=
May 19, 2026
Chief executive pay ratio
◇
To the median employee
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — William Walker: $7,575,160 → $15,500,252 (104.6% higher)
Say-on-pay support: 97.3% → 70.9% (26.4 points lower)

Frequently asked questions

Answers drawn from the data on this page.
Who is Walker & Dunlop's chief executive and what were they paid?
William Walker was paid $15,500,252 in total compensation as Chairman and Chief Executive Officer for fiscal 2025. Walker's total was 104.6% higher than the $7,575,160 reported for fiscal 2024.
What was Walker & Dunlop's say-on-pay result?
Shareholders supported the say-on-pay proposal with 70.9% of votes cast for or against in favor at the meeting held May 19, 2026 for fiscal 2025.
Which companies are in Walker & Dunlop's peer group?
The disclosed peer group includes American Assets Trust, Inc., Annaly Capital Management, Inc., Arbor Realty Trust, Inc., BrightSpire Capital, Inc. and Encore Capital Group, Inc., among others.
What is Walker & Dunlop's chief executive pay ratio?
The company reported a chief executive pay ratio of 92:1 for fiscal 2025, against median employee compensation of $169,308.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
William Walker
Chairman and Chief Executive Officer
◇—◇—◇—◇◇
Stephen Theobald
Executive Vice President and Chief Operating Officer
◇—◇—◇—◇◇
Gregory Florkowski
Executive Vice President and Chief Financial Officer
◇—◇—◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
William Walker
Chairman and Chief Executive Officer
◇◇◇—◇—◇◇
Stephen Theobald
Executive Vice President and Chief Operating Officer
◇◇◇—◇—◇◇
Gregory Florkowski
Executive Vice President and Chief Financial Officer
◇—◇—◇—◇◇
Paula Pryor
Executive Vice President Chief Human
◇—◇—◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
William Walker
Chairman and Chief Executive Officer
◇—◇—◇—◇◇
Stephen Theobald
Executive Vice President and Chief Operating Officer
◇—◇—◇—◇◇
Gregory Florkowski
Executive Vice President and Chief Financial Officer
◇—◇—◇—◇◇
Paula Pryor
Executive Vice President Chief Human
◇—◇—◇—◇◇
Daniel Groman
Executive Vice President General Counsel and Secretary
◇—◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
William Walker
Chairman and Chief Executive Officer
◇—◇—◇—◇◇
Stephen Theobald
Executive Vice President and Chief Operating Officer
◇—◇—◇—◇◇
Gregory Florkowski
Executive Vice President and Chief Financial Officer
◇—◇—◇—◇◇
Daniel Groman
Executive Vice President, General Counsel and Secretary
◇—◇—◇—◇◇
Paula Pryor
Executive Vice President and Chief Human Resources Officer
◇—◇—◇—◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Daniel J. GromanRSU◇——◇——◇
Daniel J. GromanPSU◇◇◇—◇—◇
Daniel J. GromanRSU◇——◇——◇
Gregory A. FlorkowskiRSU◇——◇——◇
Gregory A. FlorkowskiRSU◇——◇——◇
Gregory A. FlorkowskiPSU◇◇◇—◇—◇
Paula A. PryorRSU◇——◇——◇
Paula A. PryorPSU◇◇◇—◇—◇
Paula A. PryorRSU◇——◇——◇
Stephen P. TheobaldPSU◇◇◇—◇—◇
Stephen P. TheobaldRSU◇——◇——◇
Stephen P. TheobaldRSU◇——◇——◇
William M. WalkerPSU◇—◇—◇—◇
William M. WalkerRSU◇——◇——◇
William M. WalkerRSU◇——◇——◇
William M. WalkerPSU◇◇◇—◇—◇
Fiscal 2024 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Gregory FlorkowskiRSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Stephen TheobaldRSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Daniel GromanRSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
Paula PryorRSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
William WalkerPSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
John Rice
Lead independent director
◇◇————◇
Donna Wells
◇◇————◇
Ellen Levy
◇◇————◇
Jeffery R. Hayward
◇◇————◇
Dana L. Schmaltz
◇◇————◇
Gary S. Pinkus
◇◇————◇
Ernest M. Freedman
◇◇————◇
William M. Walker served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Total board retainer◇
Lead independent director premium◇
Audit committee chair◇
Audit committee member◇
Compensation committee chair◇
Compensation committee member◇
Nominating and governance chair◇
Nominating and governance member◇

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • American Assets Trust, Inc. AAT
  • Annaly Capital Management, Inc. NLY
  • Arbor Realty Trust, Inc. ABR
  • BrightSpire Capital, Inc. BRSP
  • Encore Capital Group, Inc. ECPG
  • Kennedy-Wilson Holdings, Inc. KW
  • Ladder Capital Corp LADR
  • Marcus & Millichap, Inc. MMI
  • MGIC Investment Corporation MTG
  • Mr. Cooper Group Inc. symbol not shown
  • Newmark Group, Inc. NMRK
  • Onity Group Inc. ONIT
  • PennyMac Financial Services, Inc. PFSI
  • Piper Sandler Companies PIPR
  • Radian Group Inc. RDN
  • Redwood Trust, Inc. RWT

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025May 19, 2026=◇◇◇
2024May 1, 2025=◇◇◇
2023May 2, 2024=◇◇◇
2022May 4, 2023=◇◇◇
2021May 5, 2022=◇◇◇
2020May 6, 2021=◇◇◇
2019May 14, 2020=◇◇◇
2018May 16, 2019=◇◇◇
2017May 10, 2018=◇◇◇
2016May 18, 2017=◇◇◇
2015May 12, 2016=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇
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What this page does not include

Everything above is a fact Walker & Dunlop disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Walker & Dunlop sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion Intelligence
Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
298 figures on this page: 287 cited to the filing that reported them, 11 calculated from figures it prints.
287 cited to the filing
11 calculated from the filing

Documents cited

  1. 0001104659-26-065193
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0001104659-26-038515
    2025 Director Compensation · 2025 Summary Compensation Table · CEO Pay Ratio · Narrative Disclosures to Summary Compensation and Grants of Plan-Based Awards Tables · and 1 more section
  3. 0001104659-25-044532
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0001558370-25-002956
    2024 Summary Compensation Table
  5. 0001104659-24-058090
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0001558370-24-003304
    Summary Compensation Table
  7. 0001104659-23-057753
    Item 5.07 Submission of Matters to a Vote of Security Holders
  8. 0001104659-23-033585
    Summary Compensation Table
  9. 0001104659-22-058267
    Item 5.07 Submission of Matters to a Vote of Security Holders
  10. 0001104659-21-063895
    Item 5.07 Submission of Matters to a Vote of Security Holders
  11. 0001104659-20-063248
  12. 0001104659-19-030560
    Item 5.07 Submission of Matters to a Vote of Security Holders
  13. 0001104659-18-032992
    Item 5.07 Submission of Matters to a Vote of Security Holders
  14. 0001104659-17-034288
    Item 5.07 Submission of Matters to a Vote of Security Holders
  15. 0001104659-16-120890
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Velarion, “Walker & Dunlop executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/WD (accessed 2026).
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Specialty Finance rankings

Chief executive pay — Specialty FinanceCEO pay ratio — Specialty FinanceSay-on-pay support — Specialty Finance

Peers Walker & Dunlop discloses

The companies named in WD's own disclosed peer group.

American Assets Trust, Inc.Annaly Capital Management, Inc.Arbor Realty Trust, Inc.BrightSpire Capital, Inc.Encore Capital Group, Inc.Kennedy-Wilson Holdings, Inc.Ladder Capital CorpMGIC Investment CorporationPiper Sandler CompaniesRadian Group Inc.Redwood Trust, Inc.

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies
Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
For informational purposes only. Not investment, legal, or compensation advice.  The Pay Desk · Methodology · Terms · Privacy