diff --git a/fs/dlm/lock.c b/fs/dlm/lock.c
index ffab7dc88157..a1f5982f0b51 100644
--- a/fs/dlm/lock.c
+++ b/fs/dlm/lock.c
@@ -1555,6 +1555,7 @@ static int _remove_from_waiters(struct dlm_lkb *lkb, int mstype,
 		lkb->lkb_wait_type = 0;
 		lkb->lkb_flags &= ~DLM_IFL_OVERLAP_CANCEL;
 		lkb->lkb_wait_count--;
+		unhold_lkb(lkb);
 		goto out_del;
 	}
 
@@ -1581,6 +1582,7 @@ static int _remove_from_waiters(struct dlm_lkb *lkb, int mstype,
 		log_error(ls, "remwait error %x reply %d wait_type %d overlap",
 			  lkb->lkb_id, mstype, lkb->lkb_wait_type);
 		lkb->lkb_wait_count--;
+		unhold_lkb(lkb);
 		lkb->lkb_wait_type = 0;
 	}
 
@@ -5314,11 +5316,16 @@ int dlm_recover_waiters_post(struct dlm_ls *ls)
 		lkb->lkb_flags &= ~DLM_IFL_OVERLAP_UNLOCK;
 		lkb->lkb_flags &= ~DLM_IFL_OVERLAP_CANCEL;
 		lkb->lkb_wait_type = 0;
-		lkb->lkb_wait_count = 0;
+		/* drop all wait_count references we still
+		 * hold a reference for this iteration.
+		 */
+		while (lkb->lkb_wait_count) {
+			lkb->lkb_wait_count--;
+			unhold_lkb(lkb);
+		}
 		mutex_lock(&ls->ls_waiters_mutex);
 		list_del_init(&lkb->lkb_wait_reply);
 		mutex_unlock(&ls->ls_waiters_mutex);
-		unhold_lkb(lkb); /* for waiters list */
 
 		if (oc || ou) {
 			/* do an unlock or cancel instead of resending */