The extension will begin with the 2015-16 season, reports Stein. The two sides needed to finalize a deal by Friday to avoid Walker becoming a restricted free agent in July.
The Hornets (then the Bobcats) chose Walker in the first round of the 2011 draft out of Connecticut. He's spent three seasons in Charlotte, and averaged 17.7 points per game in each of the last two seasons. The 24-year-old also averaged 6.1 assists, 4.2 rebounds and 1.2 steals in 2013-14.
Charlotte opens the 2014-15 season on Wednesday by hosting the Milwaukee Bucks.
- Molly Geary