UWMC insider Mat Ishbia discloses two 596,356‑share sales

Rhea-AI Filing Summary

UWM Holdings Corp (UWMC): CEO, President, Director and 10% owner Mat Ishbia reported open‑market sales of Class A Common Stock pursuant to a Rule 10b5‑1 trading plan. On 10/28/2025, 596,356 shares were sold at a weighted average price of $5.82. On 10/29/2025, 596,356 shares were sold at a weighted average price of $5.70.

Following these transactions, 1,818,036 shares were beneficially owned indirectly and 279,989 shares were beneficially owned directly, as reported. The filing also lists 180,737 Restricted Stock Units, which convert to Class A Common Stock on a one‑for‑one basis and vest on March 1, 2026.

Insights

Insider trading compliance analyst

Planned insider sales disclosed; routine Form 4 activity.

Mat Ishbia, a director, CEO, and 10% owner of UWM Holdings Corp, reported two open‑market sales executed under a pre‑established Rule 10b5‑1 plan. The transactions were 596,356 shares on 10/28/2025 at a weighted average of $5.82, and 596,356 shares on 10/29/2025 at a weighted average of $5.70.

The filing reports post‑trade beneficial ownership of 1,818,036 shares indirectly and 279,989 shares directly. It also lists 180,737 RSUs that convert 1‑for‑1 into Class A shares, vesting on March 1, 2026. Cash‑flow and pricing details are limited to the disclosed weighted averages; actual price ranges are provided in footnotes.

This is administrative disclosure of insider activity under a trading plan. Actual market impact depends on broader liquidity and holder actions; no guidance or operational metrics are included here.

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
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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)
10/28/2025

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	10/28/2025		S		596,356(1)	D	$5.82(2)	2,414,392	I	See Footnote(3)
Class A Common Stock	10/29/2025		S		596,356(1)	D	$5.7(4)	1,818,036	I	See Footnote(3)
Class A Common Stock								279,989	D(5)

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	(6)							(7)	(7)	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 $5.77 to $5.86 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 $5.51 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.

5. These shares are held directly by Mat Ishbia and SFS Corp. has no interests in these shares.

6. These Restricted Stock Units ("RSUs") convert to Class A Common Stock on a one-for-one basis.

7. These RSUs vest on March 1, 2026. The RSUs were granted pursuant to the 2020 Omnibus Incentive Plan.

Remarks:

	/s/ Mat Ishbia	10/29/2025
	/s/ Mat Ishbia, CEO, for SFS Holding Corp.	10/29/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transactions did UWMC report on Form 4?

Two open‑market sales of 596,356 shares each on 10/28/2025 and 10/29/2025 at weighted average prices of $5.82 and $5.70, respectively.

Were the UWMC insider sales under a Rule 10b5-1 plan?

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

How many UWMC shares does the insider report owning after the sales?

Reported beneficial ownership is 1,818,036 shares indirectly and 279,989 shares directly, following the transactions.

What RSUs are reported for UWMC’s insider?

The filing lists 180,737 RSUs that convert to Class A Common Stock on a one‑for‑one basis and vest on March 1, 2026.

Who executed the UWMC sales and through which entity?

Shares were held and sold by SFS Corp, a 10% holder, and indirectly by Mat Ishbia, who exercises voting and dispositive power over SFS Corp.

What were the reported price ranges for the UWMC sales?

For 10/28/2025, prices ranged from $5.77 to $5.86; for 10/29/2025, from $5.51 to $5.90.