Preset stock sales by UWM (NYSE: UWMC) CEO-linked SFS Corp

Rhea-AI Filing Summary

UWM Holdings Corp. insider reporting shows that SFS Corp, a 10% holder associated with President and CEO Mat Ishbia, sold Class A common stock in three preset transactions under a Rule 10b5-1 trading plan adopted on March 17, 2025. On January 13, 14 and 15, 2026, SFS Corp sold 632,874 Class A shares on each day at weighted average prices of $5.37, $5.46 and $5.72 per share, respectively, with Ishbia exercising voting and dispositive power over these shares through SFS Corp.

Following these sales, SFS Corp reported 618,257 Class A shares indirectly beneficially owned for Ishbia, while Ishbia also directly holds 279,989 Class A shares. In addition, Ishbia holds 180,737 Restricted Stock Units that convert one-for-one into Class A common stock and are scheduled to vest on March 1, 2026 under the 2020 Omnibus Incentive Plan.

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)
01/13/2026

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	01/13/2026		S		632,874(1)	D	$5.37(2)	1,884,005	I	See Footnote(3)
Class A Common Stock	01/14/2026		S		632,874(1)	D	$5.46(4)	1,251,131	I	See Footnote(3)
Class A Common Stock	01/15/2026		S		632,874(1)	D	$5.72(5)	618,257	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 $5.23 to $5.46 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 $5.27 to $5.58 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 $5.46 to $5.80 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.

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	01/15/2026
	/s/ Mat Ishbia, CEO, for SFS Holding Corp.	01/15/2026
	** Signature of Reporting Person	Date
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FAQ

Who reported insider transactions in UWM Holdings Corp (UWMC)?

The filing lists Mat Ishbia, President and CEO and a 10% owner, and SFS Corp, a 10% holder of UWM Holdings Corp. Ishbia is the Chief Executive Officer and sole director of SFS Corp and exercises voting and dispositive power over the securities held by SFS Corp.

How many UWM (UWMC) shares did SFS Corp sell and on which dates?

SFS Corp sold 632,874 Class A common shares of UWM Holdings Corp on each of January 13, 14 and 15, 2026. These were reported as open market sales with transaction code "S" in the non-derivative securities table.

What prices were received for the UWM (UWMC) share sales reported?

The filing reports weighted average sale prices of $5.37 per share on January 13, 2026, $5.46 per share on January 14, 2026, and $5.72 per share on January 15, 2026. Footnotes state that individual sale prices ranged within specified bands around each average.

Were the UWM (UWMC) insider sales made under a Rule 10b5-1 plan?

Yes. A footnote explains that the shares were sold pursuant to a 10b5-1 Plan adopted by SFS Corp on March 17, 2025, indicating the transactions were pre-arranged under that trading plan.

How many UWM (UWMC) shares does Mat Ishbia own directly and indirectly after these transactions?

After the reported sales, SFS Corp reported 618,257 Class A shares indirectly beneficially owned for Mat Ishbia. Separately, Ishbia directly holds 279,989 Class A common shares, which SFS Corp has no interest in according to a footnote.

What Restricted Stock Units (RSUs) related to UWM (UWMC) does Mat Ishbia hold?

The filing shows 180,737 Restricted Stock Units held directly by Mat Ishbia. These RSUs 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.

Is SFS Corp considered related to UWM (UWMC) management?

Yes. SFS Corp is described as a 10% holder of UWM Holdings Corp. Mat Ishbia is the Chief Executive Officer and sole director of SFS Corp and serves as investment advisor to the trust that owns SFS Corp’s voting securities, so he exercises all voting and dispositive power over SFS Corp’s UWM shares.