UWM CEO-linked entity sells 2.0M UWMC shares
UWM Holdings Corp insider activity shows affiliated entity SFS Corp executing planned stock sales under a Rule 10b5-1 trading plan.
Rhea-AI Filing Summary
UWM Holdings Corp insider activity shows affiliated entity SFS Corp executing planned stock sales under a Rule 10b5-1 trading plan. On April 21, 2026, SFS Corp sold 1,000,574 Class A shares at a weighted average price of $3.82 per share, leaving 9,321,247 shares held indirectly. On April 22, 2026, it sold another 1,000,574 shares at a weighted average price of $3.70, leaving 8,320,673 shares held indirectly. Separately, Mat Ishbia directly holds 408,131 Class A shares. The filing notes that Ishbia, as CEO and sole director of SFS Corp and advisor to the trust owning its voting securities, exercises all voting and dispositive power over the SFS Corp holdings.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 2,001,148 shares
Net Sell
3 txns
Insider
Mat Ishbia, SFS HOLDING CORP
Role
President and CEO | 10% Owner
Sold
2,001,148 shs ($7.52M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 1,000,574 | $3.70 | $3.70M |
| Sale | Class A Common Stock | 1,000,574 | $3.82 | $3.82M |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Class A Common Stock — 8,320,673 shares (Indirect, See Footnote);
Class A Common Stock — 408,131 shares (Direct)
Footnotes (5)
- F1. Sold pursuant to the 10b5-1 Plan adopted by SFS Corp on September 16, 2025.
- F2. Represents the weighted average price of shares sold. The price of the shares sold ranged from $3.73 to $4.02 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.
- F3. 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.
- F4. Represents the weighted average price of shares sold. The price of the shares sold ranged from $3.66 to $3.80 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.
- F5. These shares are held directly by Mat Ishbia and SFS Corp. has no interests in these shares.
Key Figures
Shares sold 2026-04-21: 1,000,574 shares
Price 2026-04-21: $3.82/share
Indirect holdings after 2026-04-21: 9,321,247 shares
+5 more
8 metrics
Shares sold 2026-04-21
1,000,574 shares
Open-market sale of Class A Common Stock by SFS Corp at $3.82 weighted average
Price 2026-04-21
$3.82/share
Weighted average sale price; range $3.73 to $4.02
Indirect holdings after 2026-04-21
9,321,247 shares
Class A shares held indirectly via SFS Corp after April 21 sale
Shares sold 2026-04-22
1,000,574 shares
Open-market sale of Class A Common Stock by SFS Corp at $3.70 weighted average
Price 2026-04-22
$3.70/share
Weighted average sale price; range $3.66 to $3.80
Indirect holdings after 2026-04-22
8,320,673 shares
Class A shares held indirectly via SFS Corp after April 22 sale
Direct holdings
408,131 shares
Class A shares held directly by Mat Ishbia as of April 21, 2026
10b5-1 plan adoption date
September 16, 2025
Date SFS Corp adopted Rule 10b5-1 trading plan
Key Terms
Rule 10b5-1 Plan, weighted average price, dispositive power, director by deputization, +1 more
5 terms
Rule 10b5-1 Plan regulatory
"Sold pursuant to the 10b5-1 Plan adopted by SFS Corp on September 16, 2025."
A Rule 10b5-1 plan is a prearranged, written schedule that lets corporate insiders buy or sell company stock at set times or amounts, even if they later learn material nonpublic information. Think of it like setting an automatic thermostat for trades: it creates a clear record that trades were planned in advance, reducing the risk of insider-trading accusations and helping investors trust that insider transactions are routine rather than based on secret information.
weighted average price financial
"Represents the weighted average price of shares sold."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
dispositive power regulatory
"therefore exercises all voting and dispositive power of the securities held by SFS Corp."
Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.
director by deputization regulatory
"SFS Corp may be deemed to be a director by deputization."
10% holder financial
"These securities are held directly by SFS Corp, a 10% holder of the Issuer"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions were reported for UWM Holdings Corp (UWMC)?
The filing reports two open-market sales of UWM Holdings Corp Class A shares by SFS Corp, an entity associated with CEO Mat Ishbia. Each trade involved 1,000,574 shares on April 21 and 22, 2026, at weighted average prices of $3.82 and $3.70, respectively.
Were the UWMC insider sales made under a Rule 10b5-1 trading plan?
Yes. The filing states the sales were made pursuant to a Rule 10b5-1 trading plan adopted by SFS Corp on September 16, 2025. Such pre-arranged plans automate trading based on preset instructions, reducing discretion over trade timing by the controlling insider.
What are Mat Ishbia’s direct UWMC holdings in this Form 4?
The Form 4 shows Mat Ishbia directly holding 408,131 shares of UWMC Class A common stock as of April 21, 2026. A footnote clarifies these directly held shares are separate from SFS Corp’s holdings, in which SFS Corp has no interest.
How were the UWMC sale prices described in the Form 4?
The Form 4 reports weighted average sale prices for UWMC shares. For April 21, 2026, the weighted average was $3.82 with trades between $3.73 and $4.02. For April 22, 2026, the weighted average was $3.70 with trades between $3.66 and $3.80 per share.
AI-generated analysis. How Rhea-AI works. Not financial advice.
