Fans’ Players of the Month for August and September. A month later on 27 October 2015, he scored his second goal for Sheffield Wednesday and then set up a goal for Lucas João, in a 3–0 win against Arsenal in the fourth round of the League Cup. Wallace then scored his third goal for the club came in a 1–0 win over Fulham on 2 January 2016 in the Championship; a 25-yard dipping shot after cutting in from the right wing. His next goal for Sheffield Wednesday came on 5 April 2016 against Blackburn Rovers and scoring a winning goal, in a 2–1 win. However in a match against Milton Keynes Dons on 19 April 2016, he received a straight red card after an off the ball incident with Jonny Williams, in a 0–0 draw. After serving a three match suspension, Wallace returned to the starting line–up against Brighton & Hove Albion in the first leg of the Championshup play–offs and scored in a 2–0 win. In the return leg, he scored the equalising goal to help the club reach the final. In the Football League Championship play-off Final against Hull City, Wallace started and played 64 minutes before being substituted, as Sheffield Wednesday lost 1–0. Despite missing two matches during the 2015–16 season, Wallace went on to make forty–eight appearances and scoring six times in all competitions. Having expressed interest on staying with the club and beyond, he signed a new contract with Sheffield Wednesday, keeping him until 2018. At the start of the 2016–17 season, Wallace continued to establish himself in the first team, playing in the right midfield position. By November, he began to find his playing time, coming from the substitute bench, with manager Carlos Carvalhal commentating on Wallace: "He is a player who wasn't playing in the first XI in the last games but if you saw it all the time when he was on the pitch he was the player who had the most effect on the game so far. He didn't play but when he goes inside the pitch, he tried to change things, he tried to give a new dynamic he did well and trued a lot to do this." But Wallace soon regained his first team place in the starting line–up. After suffering an eight months goal drought, he ended this drought by scoring from a 25-yard piledriver in a 2–0