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[Form 4] UWM Holdings Corporation Insider Trading Activity

Filing Impact
(High)
Filing Sentiment
(Very Negative)
Form Type
4
Rhea-AI Filing Summary

Mat Ishbia and related holder SFS Holding Corp reported multiple planned sales of UWM Holdings Corp (UWMC) Class A common stock under a 10b5-1 plan. The Form 4 shows three scheduled sales of 400,036 shares each on 09/04/2025, 09/05/2025, and 09/08/2025 at weighted average prices of $5.81, $6.25, and $6.44 respectively. Following those sales reported sequentially, beneficial ownership figures declined from 3,498,020 to 3,097,984 and then to 2,697,948. The filing notes an additional 279,989 shares disposed of and discloses 180,737 RSUs that convert one-for-one to Class A shares and vest on March 1, 2026. The sales were made pursuant to a 10b5-1 plan adopted March 17, 2025, and signatures are dated 09/08/2025.

Mat Ishbia e la societ脿 correlata SFS Holding Corp hanno comunicato pi霉 vendite programmate di azioni ordinarie di Classe A di UWM Holdings Corp (UWMC) nell'ambito di un piano 10b5-1. Il Modulo 4 indica tre vendite previste di 400.036 azioni ciascuna in data 04/09/2025, 05/09/2025 e 08/09/2025 a prezzi medi ponderati rispettivamente di $5,81, $6,25 e $6,44. Dopo queste vendite registrate in sequenza, la titolarit脿 beneficiaria 猫 scesa da 3.498.020 a 3.097.984 e poi a 2.697.948. La dichiarazione segnala altres矛 la cessione di ulteriori 279.989 azioni e indica 180.737 RSU convertibili uno a uno in azioni di Classe A, con maturazione il 1 marzo 2026. Le vendite sono state effettuate in base a un piano 10b5-1 adottato il 17 marzo 2025 e le firme sono datate 08/09/2025.

Mat Ishbia y la entidad relacionada SFS Holding Corp informaron varias ventas programadas de acciones ordinarias Clase A de UWM Holdings Corp (UWMC) bajo un plan 10b5-1. El Formulario 4 muestra tres ventas programadas de 400.036 acciones cada una el 04/09/2025, 05/09/2025 y 08/09/2025 a precios promedio ponderados de $5,81, $6,25 y $6,44, respectivamente. Tras esas ventas reportadas de forma secuencial, la propiedad beneficiaria disminuy贸 de 3.498.020 a 3.097.984 y luego a 2.697.948. La presentaci贸n tambi茅n se帽ala la disposici贸n adicional de 279.989 acciones y revela 180.737 RSU que se convierten uno a uno en acciones de Clase A y vencen el 1 de marzo de 2026. Las ventas se realizaron conforme a un plan 10b5-1 adoptado el 17 de marzo de 2025 y las firmas est谩n fechadas el 08/09/2025.

Mat Ishbia鞕� 甏�瓿勳偓 SFS Holding Corp電� 10b5-1 瓿勴殟鞐� 霐半澕 UWM Holdings Corp(UWMC) 韥措灅鞀� A 氤错喌欤检棎 雽�頃� 鞐煬 彀 鞓堨爼 毵り皝鞚� 氤搓碃頄堨姷雼堧嫟. Form 4鞐愲姅 臧侁皝 400,036欤�鞌╈潣 靹� 瓯挫潣 鞓堨爼 毵り皝鞚� 2025-09-04, 2025-09-05, 2025-09-08鞐� 臧�欷戫弶攴� 臧�瓴� $5.81, $6.25, $6.44搿� 旮办灛霅橃柎 鞛堨姷雼堧嫟. 靾滌皑鞝侅溂搿� 氤搓碃霅� 頃措嫻 毵り皝 鞚错泟 鞁れ 氤挫湢 靾橂姅 3,498,020欤�鞐愳劀 3,097,984欤�, 鞚挫柎 2,697,948欤�搿� 臧愳唽頄堨姷雼堧嫟. 鞝滌稖靹滊電� 於旉皜搿� 觳橂秳霅� 279,989欤�毳� 氇呾嫓頃橁碃, 180,737 RSU臧� 韥措灅鞀� A 欤检嫕鞙茧 1雽�1 鞝勴櫂霅橂┌ 2026雲� 3鞗� 1鞚�鞐� 氩犾姢韺呺悳雼り碃 氚濏灆雼堧嫟. 鞚� 毵り皝鞚� 2025雲� 3鞗� 17鞚� 毂勴儩霅� 10b5-1 瓿勴殟鞐� 霐半澕 鞚措（鞏挫瓿� 靹滊獏鞚检潃 2025-09-08鞛呺媹雼�.

Mat Ishbia et la soci茅t茅 li茅e SFS Holding Corp ont d茅clar茅 plusieurs ventes programm茅es d'actions ordinaires de classe A de UWM Holdings Corp (UWMC) dans le cadre d'un plan 10b5-1. Le formulaire 4 indique trois ventes pr茅vues de 400 036 actions chacune, aux 04/09/2025, 05/09/2025 et 08/09/2025, aux prix moyens pond茅r茅s respectifs de 5,81 $, 6,25 $ et 6,44 $. Apr猫s ces ventes d茅clar茅es successivement, la d茅tention b茅n茅ficiaire est pass茅e de 3 498 020 脿 3 097 984, puis 脿 2 697 948. Le d茅p么t mentionne en outre la cession de 279 989 actions suppl茅mentaires et r茅v猫le 180 737 RSU convertibles une pour une en actions de classe A, qui seront acquises le 1er mars 2026. Les ventes ont 茅t茅 effectu茅es en vertu d'un plan 10b5-1 adopt茅 le 17 mars 2025 et les signatures sont dat茅es du 08/09/2025.

Mat Ishbia und die verbundene Gesellschaft SFS Holding Corp meldeten mehrere geplante Verk盲ufe von UWM Holdings Corp (UWMC) Class-A-Stammaktien im Rahmen eines 10b5-1-Plans. Das Formular 4 weist drei geplante Verk盲ufe von jeweils 400.036 Aktien am 04.09.2025, 05.09.2025 und 08.09.2025 zu gewichteten Durchschnittspreisen von $5,81, $6,25 bzw. $6,44 aus. Nach diesen nacheinander gemeldeten Verk盲ufen sank der wirtschaftliche Besitz von 3.498.020 auf 3.097.984 und anschlie脽end auf 2.697.948. Die Einreichung vermerkt ferner die Ver盲u脽erung von zus盲tzlichen 279.989 Aktien und offenbart 180.737 RSUs, die eins zu eins in Class-A-Aktien umgewandelt werden und am 1. M盲rz 2026 vesten. Die Verk盲ufe erfolgten gem盲脽 einem am 17. M盲rz 2025 angenommenen 10b5-1-Plan; die Unterschriften sind auf 08.09.2025 datiert.

Positive
  • Sales executed under a 10b5-1 plan, indicating pre-authorized, rule-compliant transactions (plan adopted March 17, 2025).
  • Detailed price ranges and weighted averages provided ($5.71鈥�$5.90; $6.06鈥�$6.38; $6.28鈥�$6.50) allowing transparency on execution prices.
  • RSU disclosure with vesting date (180,737 RSUs vesting March 1, 2026) clarifies future potential share issuance.
Negative
  • Material reduction in beneficial ownership: sequential reported holdings decline from 3,498,020 to 2,697,948 following reported sales.
  • Large insider dispositions: three separate sales of 400,036 shares each (total 1,200,108 shares) plus 279,989 shares disposed.
  • Potential market perception risk from sizable insider sales, even though conducted under a pre-existing plan.

Insights

TL;DR: Insider executed sizeable, pre-arranged sales under a 10b5-1 plan, materially reducing reported beneficial holdings.

The reported transactions are structured as Rule 10b5-1 plan sales, indicating the trades were pre-authorized on March 17, 2025. Each reported sale moved 400,036 shares, with weighted average prices ranging from $5.81 to $6.44, and sequential beneficial ownership counts decline from 3,498,020 to 2,697,948. The filing also shows 180,737 RSUs that will convert to Class A shares and vest on March 1, 2026. For investors, the material point is the quantifiable reduction in shareholdings executed under an affirmative-defense plan rather than ad hoc open-market activity.

TL;DR: Sales were executed via an established 10b5-1 plan, which provides compliance context but still reduces insider ownership.

The filing discloses that SFS Corp and Mat Ishbia hold shares indirectly and directly, and that sales were made pursuant to a 10b5-1 plan adopted by SFS Corp. The disclosure explains the relationships: SFS Corp holds shares directly and is indirectly associated with Mat Ishbia, who is CEO and director. The presence of a signed, dated Form 4 and explicit explanation of price ranges supports transparency and regulatory compliance. The reduction in reported beneficial ownership is a material governance datapoint for stakeholders monitoring insider positions.

Mat Ishbia e la societ脿 correlata SFS Holding Corp hanno comunicato pi霉 vendite programmate di azioni ordinarie di Classe A di UWM Holdings Corp (UWMC) nell'ambito di un piano 10b5-1. Il Modulo 4 indica tre vendite previste di 400.036 azioni ciascuna in data 04/09/2025, 05/09/2025 e 08/09/2025 a prezzi medi ponderati rispettivamente di $5,81, $6,25 e $6,44. Dopo queste vendite registrate in sequenza, la titolarit脿 beneficiaria 猫 scesa da 3.498.020 a 3.097.984 e poi a 2.697.948. La dichiarazione segnala altres矛 la cessione di ulteriori 279.989 azioni e indica 180.737 RSU convertibili uno a uno in azioni di Classe A, con maturazione il 1 marzo 2026. Le vendite sono state effettuate in base a un piano 10b5-1 adottato il 17 marzo 2025 e le firme sono datate 08/09/2025.

Mat Ishbia y la entidad relacionada SFS Holding Corp informaron varias ventas programadas de acciones ordinarias Clase A de UWM Holdings Corp (UWMC) bajo un plan 10b5-1. El Formulario 4 muestra tres ventas programadas de 400.036 acciones cada una el 04/09/2025, 05/09/2025 y 08/09/2025 a precios promedio ponderados de $5,81, $6,25 y $6,44, respectivamente. Tras esas ventas reportadas de forma secuencial, la propiedad beneficiaria disminuy贸 de 3.498.020 a 3.097.984 y luego a 2.697.948. La presentaci贸n tambi茅n se帽ala la disposici贸n adicional de 279.989 acciones y revela 180.737 RSU que se convierten uno a uno en acciones de Clase A y vencen el 1 de marzo de 2026. Las ventas se realizaron conforme a un plan 10b5-1 adoptado el 17 de marzo de 2025 y las firmas est谩n fechadas el 08/09/2025.

Mat Ishbia鞕� 甏�瓿勳偓 SFS Holding Corp電� 10b5-1 瓿勴殟鞐� 霐半澕 UWM Holdings Corp(UWMC) 韥措灅鞀� A 氤错喌欤检棎 雽�頃� 鞐煬 彀 鞓堨爼 毵り皝鞚� 氤搓碃頄堨姷雼堧嫟. Form 4鞐愲姅 臧侁皝 400,036欤�鞌╈潣 靹� 瓯挫潣 鞓堨爼 毵り皝鞚� 2025-09-04, 2025-09-05, 2025-09-08鞐� 臧�欷戫弶攴� 臧�瓴� $5.81, $6.25, $6.44搿� 旮办灛霅橃柎 鞛堨姷雼堧嫟. 靾滌皑鞝侅溂搿� 氤搓碃霅� 頃措嫻 毵り皝 鞚错泟 鞁れ 氤挫湢 靾橂姅 3,498,020欤�鞐愳劀 3,097,984欤�, 鞚挫柎 2,697,948欤�搿� 臧愳唽頄堨姷雼堧嫟. 鞝滌稖靹滊電� 於旉皜搿� 觳橂秳霅� 279,989欤�毳� 氇呾嫓頃橁碃, 180,737 RSU臧� 韥措灅鞀� A 欤检嫕鞙茧 1雽�1 鞝勴櫂霅橂┌ 2026雲� 3鞗� 1鞚�鞐� 氩犾姢韺呺悳雼り碃 氚濏灆雼堧嫟. 鞚� 毵り皝鞚� 2025雲� 3鞗� 17鞚� 毂勴儩霅� 10b5-1 瓿勴殟鞐� 霐半澕 鞚措（鞏挫瓿� 靹滊獏鞚检潃 2025-09-08鞛呺媹雼�.

Mat Ishbia et la soci茅t茅 li茅e SFS Holding Corp ont d茅clar茅 plusieurs ventes programm茅es d'actions ordinaires de classe A de UWM Holdings Corp (UWMC) dans le cadre d'un plan 10b5-1. Le formulaire 4 indique trois ventes pr茅vues de 400 036 actions chacune, aux 04/09/2025, 05/09/2025 et 08/09/2025, aux prix moyens pond茅r茅s respectifs de 5,81 $, 6,25 $ et 6,44 $. Apr猫s ces ventes d茅clar茅es successivement, la d茅tention b茅n茅ficiaire est pass茅e de 3 498 020 脿 3 097 984, puis 脿 2 697 948. Le d茅p么t mentionne en outre la cession de 279 989 actions suppl茅mentaires et r茅v猫le 180 737 RSU convertibles une pour une en actions de classe A, qui seront acquises le 1er mars 2026. Les ventes ont 茅t茅 effectu茅es en vertu d'un plan 10b5-1 adopt茅 le 17 mars 2025 et les signatures sont dat茅es du 08/09/2025.

Mat Ishbia und die verbundene Gesellschaft SFS Holding Corp meldeten mehrere geplante Verk盲ufe von UWM Holdings Corp (UWMC) Class-A-Stammaktien im Rahmen eines 10b5-1-Plans. Das Formular 4 weist drei geplante Verk盲ufe von jeweils 400.036 Aktien am 04.09.2025, 05.09.2025 und 08.09.2025 zu gewichteten Durchschnittspreisen von $5,81, $6,25 bzw. $6,44 aus. Nach diesen nacheinander gemeldeten Verk盲ufen sank der wirtschaftliche Besitz von 3.498.020 auf 3.097.984 und anschlie脽end auf 2.697.948. Die Einreichung vermerkt ferner die Ver盲u脽erung von zus盲tzlichen 279.989 Aktien und offenbart 180.737 RSUs, die eins zu eins in Class-A-Aktien umgewandelt werden und am 1. M盲rz 2026 vesten. Die Verk盲ufe erfolgten gem盲脽 einem am 17. M盲rz 2025 angenommenen 10b5-1-Plan; die Unterschriften sind auf 08.09.2025 datiert.

SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
X
 Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Mat Ishbia
(Last) (First) (Middle)
C/O UWM HOLDINGS CORPORATION
585 SOUTH BLVD E
(Street)
PONTIAC MI 48341
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
UWM Holdings Corp [ UWMC ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director X 10% Owner
X Officer (give title below) Other (specify below)
President and CEO
3. Date of Earliest Transaction (Month/Day/Year)
09/04/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Class A Common Stock 09/04/2025 S 400,036(1) D $5.81(2) 3,498,020 I See Footnote(3)
Class A Common Stock 09/05/2025 S 400,036(1) D $6.25(4) 3,097,984 I See Footnote(3)
Class A Common Stock 09/08/2025 S 400,036(1) D $6.44(5) 2,697,948 I See Footnote(3)
Class A Common Stock 279,989 D(6)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Restricted Stock Units (7) (8) (8) Class A Common Stock 180,737 180,737 D
1. Name and Address of Reporting Person*
Mat Ishbia
(Last) (First) (Middle)
C/O UWM HOLDINGS CORPORATION
585 SOUTH BLVD E
(Street)
PONTIAC MI 48341
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
X Director X 10% Owner
X Officer (give title below) Other (specify below)
President and CEO
1. Name and Address of Reporting Person*
SFS HOLDING CORP
(Last) (First) (Middle)
C/O UWM HOLDINGS CORPORATION
585 SOUTH BLVD E
(Street)
PONTIAC MI 48341
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
Explanation of Responses:
1. Sold pursuant to the 10b5-1 Plan adopted by SFS Corp on March 17, 2025.
2. Represents the weighted average price of shares sold. The price of the shares sold ranged from $5.71 to $5.90 per share. The Reporting Person, upon request, will provide the Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer full information regarding the number of shares sold at each price.
3. These securities are held directly by SFS Corp, a 10% holder of the Issuer, and indirectly by Mat Ishbia. Mat Ishbia is the Chief Executive Officer and sole director of SFS Corp and serves as the investment advisor to the trust that owns the voting securities of SFS Corp, and therefore exercises all voting and dispositive power of the securities held by SFS Corp. In addition, trusts for the benefit of Mat Ishbia and his immediate family are shareholders of SFS Corp. By virtue of its relationship with Mat Ishbia, a director and the CEO of the Issuer, SFS Corp may be deemed to be a director by deputization.
4. Represents the weighted average price of shares sold. The price of the shares sold ranged from $6.06 to $6.38 per share. The Reporting Person, upon request, will provide the Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer full information regarding the number of shares sold at each price.
5. Represents the weighted average price of shares sold. The price of the shares sold ranged from $6.28 to $6.50 per share. The Reporting Person, upon request, will provide the Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer full information regarding the number of shares sold at each price.
6. These shares are held directly by Mat Ishbia and SFS Corp. has no interests in these shares.
7. These Restricted Stock Units ("RSUs") convert to Class A Common Stock on a one-for-one basis.
8. These RSUs vest on March 1, 2026. The RSUs were granted pursuant to the 2020 Omnibus Incentive Plan.
Remarks:
/s/ Mat Ishbia 09/08/2025
/s/ Mat Ishbia, CEO, for SFS Holding Corp. 09/08/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source:

FAQ

What insider sales did Mat Ishbia report on the UWMC Form 4?

The Form 4 reports three sales of 400,036 shares on 09/04/2025, 09/05/2025, and 09/08/2025, plus an additional 279,989 shares disposed.

Were the UWMC sales pre-arranged under a trading plan?

Yes. The sales were made pursuant to a 10b5-1 plan adopted by SFS Corp on March 17, 2025.

What prices were the UWMC shares sold at?

Weighted average prices reported are $5.81 for 09/04/2025, $6.25 for 09/05/2025, and $6.44 for 09/08/2025; price ranges per sale are disclosed in the filing.

How many RSUs does the filing disclose and when do they vest?

The filing discloses 180,737 Restricted Stock Units that convert one-for-one to Class A common stock and vest on March 1, 2026.

How did the reported beneficial ownership change after the sales?

Reported beneficial ownership declined from 3,498,020 to 3,097,984 and then to 2,697,948 following the sequential reported sales.
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Uwm Holdings Corporation

NYSE:UWMC

UWMC Rankings

#2394 Ranked by Market Cap
#531 Ranked by Dividends

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UWMC Latest SEC Filings

Sep 4, 2025
[Form 4] UWM Holdings Corporation Insider Trading Activity
Sep 3, 2025
[Form 4] UWM Holdings Corporation Insider Trading Activity
Aug 28, 2025
[Form 4] UWM Holdings Corporation Insider Trading Activity
Aug 25, 2025
[Form 4] UWM Holdings Corporation Insider Trading Activity
Aug 21, 2025
[Form 4] UWM Holdings Corporation Insider Trading Activity

UWMC Stock Data

1.41B
174.48M
17.95%
62.3%
13.99%
Mortgage Finance
Mortgage Bankers & Loan Correspondents
United States
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