[Form 4] UWM Holdings Corp Insider Trading Activity
Rhea-AI Filing Summary
Mat Ishbia and SFS Holding Corp reported multiple Class A common stock sales under a 10b5-1 plan. The filings show sale transactions on 09/25/2025, 09/26/2025 and 09/29/2025 of 596,356 shares each day at weighted average prices of $6.25, $6.23 and $6.11 respectively, reducing beneficial ownership from 2,530,580 to 1,337,868 shares across those reported transactions. The report also shows a disposal of 279,989 Class A shares and indicates 180,737 RSUs that convert one-for-one to Class A common stock and vest on 03/01/2026.
Positive
- None.
Negative
- None.
Insights
TL;DR: Insider sales were executed under a 10b5-1 plan across three trading dates, materially reducing reported beneficial holdings.
The Form 4 discloses systematic disposals of 596,356 Class A shares on each of 09/25/2025, 09/26/2025 and 09/29/2025 at weighted average prices of $6.25, $6.23 and $6.11, respectively, and an additional reported disposal of 279,989 shares. Following the transactions, beneficial ownership reported for SFS Corp/Mat Ishbia declined to 1,337,868 shares. The filing notes the sales were made pursuant to a 10b5-1 plan adopted 03/17/2025 and provides price ranges for each weighted average. The presence of 180,737 RSUs that vest 03/01/2026 is also documented.
TL;DR: Reporting is thorough and includes 10b5-1 plan disclosure and footnotes clarifying indirect ownership structure.
The Form 4 includes required disclosures: identification of Mat Ishbia as Director, President and CEO and SFS Holding Corp as a 10% owner, footnotes explaining indirect ownership and voting/dispositive power, and clear listing of the 10b5-1 plan used for sales. It also states RSU terms and vesting date. The filing is procedurally complete and provides to-the-point transactional detail without additional commentary.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 596,356 | $6.11 | $3.64M |
| Sale | Class A Common Stock | 596,356 | $6.23 | $3.72M |
| Sale | Class A Common Stock | 596,356 | $6.25 | $3.73M |
| 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 $6.18 to $6.35 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 $6.18 to $6.38 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 $5.90 to $6.24 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.
