UWM Holdings (NYSE: UWMC) CEO Mat Ishbia reports Rule 10b5-1 stock sales
Rhea-AI Filing Summary
UWM Holdings Corp director, president and CEO Mat Ishbia, a 10% owner, reported multiple open‑market sales of Class A common stock made through SFS Corp. On December 4, 5 and 8, 2025, SFS Corp sold 612,287 Class A shares on each date at weighted average prices of $5.74, $5.78 and $5.67 per share, respectively, under a Rule 10b5‑1 trading plan adopted on March 17, 2025.
Following these transactions, Ishbia indirectly beneficially owned 6,180,121 Class A shares through SFS Corp and directly held 279,989 Class A shares. He also beneficially owns 180,737 restricted stock units that convert into Class A common stock on a one‑for‑one basis and are scheduled to vest on March 1, 2026 under the company’s 2020 Omnibus Incentive Plan.
Positive
- None.
Negative
- None.
Insights
Large pre‑planned insider sales by CEO/10% holder reduce indirect stake; some future equity remains via RSUs.
The filing shows that **Mat Ishbia**, President and CEO and a **10% owner**, and **SFS Corp** executed three sales of **Class A Common Stock** on
After these transactions, **SFS Corp** holds **6,180,121** Class A shares indirectly attributed to Mat Ishbia, while he also directly owns **279,989** Class A shares that SFS Corp does not hold. The filing also reports **180,737 Restricted Stock Units (RSUs)**, each convertible into one share of Class A common stock, classified as derivative securities. These RSUs were granted under the **2020 Omnibus Incentive Plan** and vest on
This sequence of sizable pre‑planned sales reduces the reported indirect beneficial ownership of a key insider and control person, which many readers may interpret as an unfavorable signal. At the same time, the continued direct share ownership and unvested RSUs indicate that the reporting person still maintains a meaningful equity interest. A practical focus area over the next year is whether additional 10b5‑1 sales are reported and how the remaining **6.18 million** indirect shares and **180,737** RSUs evolve approaching the
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 612,287 | $5.67 | $3.47M |
| Sale | Class A Common Stock | 612,287 | $5.78 | $3.54M |
| Sale | Class A Common Stock | 612,287 | $5.74 | $3.51M |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Footnotes (1)
- Sold pursuant to the 10b5-1 Plan adopted by SFS Corp on March 17, 2025. Represents the weighted average price of shares sold. The price of the shares sold ranged from $5.63 to $5.81 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. 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. Represents the weighted average price of shares sold. The price of the shares sold ranged from $5.65 to $5.93 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. Represents the weighted average price of shares sold. The price of the shares sold ranged from $5.59 to $5.75 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. These shares are held directly by Mat Ishbia and SFS Corp. has no interests in these shares. These Restricted Stock Units ("RSUs") convert to Class A Common Stock on a one-for-one basis. These RSUs vest on March 1, 2026. The RSUs were granted pursuant to the 2020 Omnibus Incentive Plan.
