SFS Corp sells 3.0M UWM Holdings shares in plan
UWM Holdings Corp insider entity SFS Corp, a 10% holder associated with President and CEO Mat Ishbia, executed open-market sales of a total of 3,001,722 shares of Class A Common Stock over three days.
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Form Type
4
Rhea-AI Filing Summary
UWM Holdings Corp insider entity SFS Corp, a 10% holder associated with President and CEO Mat Ishbia, executed open-market sales of a total of 3,001,722 shares of Class A Common Stock over three days. The trades were made under a Rule 10b5-1 trading plan adopted by SFS Corp on September 16, 2025.
The sales were split into three equal blocks of 1,000,574 shares on April 9, 10, and 13, 2026 at reported weighted average prices of $3.91, $3.71, and $3.66 per share, respectively. Following these transactions, SFS Corp reported indirect ownership of 4,324,691 shares, while Mat Ishbia also held 408,131 shares directly.
Insider Trade Summary 10b5-1
Net Seller: 3,001,722 shares
Net Sell
4 txns
Insider
Mat Ishbia, SFS HOLDING CORP
Role
President and CEO | 10% Owner
Sold
3,001,722 shs ($11.29M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 1,000,574 | $3.66 | $3.66M |
| Sale | Class A Common Stock | 1,000,574 | $3.71 | $3.71M |
| Sale | Class A Common Stock | 1,000,574 | $3.91 | $3.91M |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Class A Common Stock — 4,324,691 shares (Indirect, See Footnote);
Class A Common Stock — 408,131 shares (Direct)
Footnotes (6)
- 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 $3.82 to $4.00 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 $3.67 to $3.89 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. Represents the weighted average price of shares sold. The price of the shares sold ranged from $3.57 to $3.73 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.
- F6. These shares are held directly by Mat Ishbia and SFS Corp. has no interests in these shares.
Key Figures
Shares sold Apr 9, 2026: 1,000,574 shares at $3.91
Shares sold Apr 10, 2026: 1,000,574 shares at $3.71
Shares sold Apr 13, 2026: 1,000,574 shares at $3.66
+3 more
6 metrics
Shares sold Apr 9, 2026
1,000,574 shares at $3.91
Open-market sale by SFS Corp under Rule 10b5-1 plan
Shares sold Apr 10, 2026
1,000,574 shares at $3.71
Open-market sale by SFS Corp
Shares sold Apr 13, 2026
1,000,574 shares at $3.66
Open-market sale by SFS Corp
Total shares sold
3,001,722 shares
Aggregate of three open-market sales in April 2026
Indirect holdings after sales
4,324,691 shares
SFS Corp Class A Common Stock position following Apr 13, 2026
Direct holdings after transactions
408,131 shares
Mat Ishbia directly held Class A shares, separate from SFS Corp
Key Terms
Rule 10b5-1 Plan, weighted average price, dispositive power, 10% holder, +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 financial
"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.
10% holder financial
"These securities are held directly by SFS Corp, a 10% holder of the Issuer,"
director by deputization regulatory
"SFS Corp may be deemed to be a director by deputization."
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did UWMC disclose for Mat Ishbia and SFS Corp?
UWM Holdings Corp disclosed that SFS Corp, a 10% holder associated with CEO Mat Ishbia, sold 3,001,722 shares of Class A Common Stock in open-market transactions over three days, while Ishbia retained a direct holding of 408,131 shares after the reported activity.
Was the UWMC insider selling done 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 plans generally pre-schedule trades, indicating the timing was set in advance rather than decided opportunistically around short-term market moves.
What is Mat Ishbia’s direct ownership in UWMC after the reported trades?
The filing shows Mat Ishbia directly owns 408,131 shares of UWM Holdings Corp Class A Common Stock after the transactions. A footnote clarifies these directly held shares are separate from those owned by SFS Corp, in which Ishbia has voting and dispositive authority through related trusts.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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