UWM Holdings (NYSE: UWMC) CEO-controlled SFS Corp sells 3.0M shares under 10b5-1 plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
UWM Holdings Corp reported that SFS Corp, a 10% holder controlled by President and CEO Mat Ishbia, executed three open-market sales of Class A common stock under a Rule 10b5-1 trading plan. On March 26, 27 and 30, 2026, SFS Corp sold 1,000,574 shares on each date at weighted average prices of about $3.46–$3.52 per share, totaling 3,001,722 shares sold. Following these transactions, SFS Corp held 2,329,857 shares indirectly attributed to Ishbia, while he also held 408,131 shares directly.
Positive
- None.
Negative
- None.
Insights
Large pre-planned insider sales from an entity controlled by the CEO.
SFS Corp, a 10% holder of UWM Holdings Corp controlled by CEO Mat Ishbia, sold a total of 3,001,722 shares of Class A common stock in three open-market transactions at prices around $3.50 per share.
The filing states these sales were made under a Rule 10b5-1 trading plan adopted by SFS Corp on September 16, 2025, indicating they were pre-arranged rather than opportunistic. After the sales, SFS Corp still held 2,329,857 shares, and Ishbia directly held 408,131 shares.
This pattern shows a meaningful reduction but not an exit of the position associated with the CEO. Future company filings may provide additional context on overall ownership levels and any subsequent trades.
Insider Trade Summary 10b5-1
Net Seller: 3,001,722 shares ($10,476,010)
Net Sell
4 txns
Insider
Mat Ishbia, SFS HOLDING CORP
Role
President and CEO | 10% Owner
Sold
3,001,722 shs ($10.48M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 1,000,574 | $3.52 | $3.52M |
| Sale | Class A Common Stock | 1,000,574 | $3.49 | $3.49M |
| Sale | Class A Common Stock | 1,000,574 | $3.46 | $3.46M |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Class A Common Stock — 2,329,857 shares (Indirect, See Footnote);
Class A Common Stock — 408,131 shares (Direct)
Footnotes (1)
- Sold pursuant to the 10b5-1 Plan adopted by SFS Corp on September 16, 2025. Represents the weighted average price of shares sold. The price of the shares sold ranged from $3.39 to $3.53 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 $3.42 to $3.57 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 $3.45 to $3.62 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.
Key Figures
Shares sold Mar 26, 2026: 1,000,574 shares at $3.46
Shares sold Mar 27, 2026: 1,000,574 shares at $3.49
Shares sold Mar 30, 2026: 1,000,574 shares at $3.52
+3 more
6 metrics
Shares sold Mar 26, 2026
1,000,574 shares at $3.46
Open-market sale of Class A common stock by SFS Corp
Shares sold Mar 27, 2026
1,000,574 shares at $3.49
Open-market sale of Class A common stock by SFS Corp
Shares sold Mar 30, 2026
1,000,574 shares at $3.52
Open-market sale of Class A common stock by SFS Corp
Total shares sold
3,001,722 shares
Net-sell direction across three open-market transactions
SFS Corp holdings after sales
2,329,857 shares
Indirectly attributable to Mat Ishbia through SFS Corp
Direct Ishbia holdings
408,131 shares
Class A common stock held directly by Mat Ishbia
Key Terms
Rule 10b5-1 Plan, open-market sale, weighted average price, voting and dispositive power, +1 more
5 terms
Rule 10b5-1 Plan financial
"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.
open-market sale financial
"transaction_action: "open-market sale" for each Class A Common Stock transaction"
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
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.
voting and dispositive power financial
"therefore exercises all voting and dispositive power of the securities held by SFS Corp."
10% holder financial
"These securities are held directly by SFS Corp, a 10% holder of the Issuer"
FAQ
What insider transactions did UWM Holdings Corp (UWMC) report on this Form 4?
The Form 4 reports three open-market sales of UWM Holdings Class A common stock by SFS Corp, a 10% holder controlled by CEO Mat Ishbia. Each sale involved 1,000,574 shares, totaling 3,001,722 shares sold over March 26, 27, and 30, 2026.
Were the UWMC insider sales made under a Rule 10b5-1 trading plan?
Yes. A footnote states the shares were sold pursuant to a Rule 10b5-1 trading plan adopted by SFS Corp on September 16, 2025. Such plans pre-schedule trades, indicating the timing of these sales was set in advance rather than decided at the trade dates.