Pre-planned UWM (NYSE: UWMC) insider sale totals 2,006,666 shares

Rhea-AI Filing Summary

UWM Holdings Corp insider activity shows an entity associated with President and CEO Mat Ishbia completing a pre-planned sale and related conversion of shares. SFS Holding Corp, a 10% holder linked to Ishbia, sold a total of 2,006,666 shares of Class A Common Stock in open-market transactions on May 7–8, 2026 at a weighted average price of $3.39 per share, with prices ranging from $3.28 to $3.52 and from $3.33 to $3.45 according to footnotes. The sales were effected pursuant to a Rule 10b5-1 trading plan adopted by SFS Holding Corp on September 16, 2025. In connection with these transactions, 14,245 UWM Paired Interests were converted into an equal number of Class A shares. After these moves, Ishbia holds 408,131 Class A shares directly, while SFS Holding Corp holds 1,261,862,603 shares indirectly over which Ishbia exercises voting and dispositive power.

Insider Trade Summary 10b5-1

Net Seller: 2,006,666 shares ($6,802,598)

Net Sell 5 txns

Insider Mat Ishbia, SFS HOLDING CORP

Role President and CEO | null

Sold 2,006,666 shs ($6.80M)

Type	Security	Shares	Price	Value
Conversion	UWM Paired Interests	14,245	$0.00	--
Sale	Class A Common Stock	1,003,333	$3.39	$3.40M
Conversion	Class A Common Stock	14,245	$0.00	--
Sale	Class A Common Stock	1,003,333	$3.39	$3.40M
holding	Class A Common Stock	--	--	--

Holdings After Transaction: UWM Paired Interests — 1,261,862,603 shares (Indirect, See Footnote); Class A Common Stock — 0 shares (Indirect, See Footnote); Class A Common Stock — 408,131 shares (Direct, null)

Footnotes (1)

1. Each UWM Paired Interest consists of one share of non-economic voting Class D Common Stock of UWM Holdings Corporation (the "Issuer") ("Class D Stock") and one Class B common units of UWM Holdings, LLC ("UWM LLC") ("Class B Common Units"), a subsidiary of the Issuer. Each UWM Paired Interest is convertible for one share of Class A Common Stock of the Issuer (i) at any time at the option of the holder or (ii) automatically upon transfer to a third person. These shares of Class A Common Stock were acquired by SFS Holding Corp. ("SFS Corp") upon the conversion of an equal number of UWM Paired Interests. 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. 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 $3.28 to $3.52 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 $3.33 to $3.45 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. The conversion rights related to the UWM Paired Interests do not expire.

Key Figures

Shares sold: 2,006,666 shares Weighted average sale price: $3.39 per share Price range (first sale group): $3.28–$3.52 per share +4 more

7 metrics

Shares sold 2,006,666 shares Total Class A Common Stock sold in open-market transactions

Weighted average sale price $3.39 per share Average price for reported open-market sales

Price range (first sale group) $3.28–$3.52 per share Range of prices for one set of reported sales

Price range (second sale group) $3.33–$3.45 per share Range of prices for another set of reported sales

Paired Interests converted 14,245 UWM Paired Interests Converted into an equal number of Class A shares

Indirect holdings after transactions 1,261,862,603 shares Class A shares held indirectly via SFS Holding Corp

Direct holdings after transactions 408,131 shares Class A Common Stock held directly by Mat Ishbia

Key Terms

UWM Paired Interests, Class D Common Stock, Class B common units, Rule 10b5-1 Plan, +1 more

5 terms

UWM Paired Interests financial

"Each UWM Paired Interest consists of one share of non-economic voting Class D Common Stock..."

Class D Common Stock financial

"one share of non-economic voting Class D Common Stock of UWM Holdings Corporation..."

Class B common units financial

"and one Class B common units of UWM Holdings, LLC ("UWM LLC")..."

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.

Form 4 Insider Transactions: What Each Field Means →

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
Estimated average burden
hours per response:			0.5

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 MICHIGAN 48341

(City) (State) (Zip)

UNITED STATES

(Country)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/07/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	05/07/2026		C		14,245	A	(1)	2,006,666	I	See Footnote(2)
Class A Common Stock	05/07/2026		S		1,003,333(3)	D	$3.39(4)	1,003,333	I	See Footnote(2)
Class A Common Stock	05/08/2026		S		1,003,333(3)	D	$3.39(5)	0	I	See Footnote(2)
Class A Common Stock								408,131	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
UWM Paired Interests	(1)	05/08/2026		C			14,245	01/21/2021	(7)	Class A Common Stock	14,245	$0	1,261,862,603	I	See Footnote(2)

1. Name and Address of Reporting Person^*

Mat Ishbia

(Last) (First) (Middle)

C/O UWM HOLDINGS CORPORATION

585 SOUTH BLVD E

(Street)

PONTIAC MICHIGAN 48341

(City) (State) (Zip)

UNITED STATES

(Country)

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 MICHIGAN 48341

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. Each UWM Paired Interest consists of one share of non-economic voting Class D Common Stock of UWM Holdings Corporation (the "Issuer") ("Class D Stock") and one Class B common units of UWM Holdings, LLC ("UWM LLC") ("Class B Common Units"), a subsidiary of the Issuer. Each UWM Paired Interest is convertible for one share of Class A Common Stock of the Issuer (i) at any time at the option of the holder or (ii) automatically upon transfer to a third person. These shares of Class A Common Stock were acquired by SFS Holding Corp. ("SFS Corp") upon the conversion of an equal number of UWM Paired Interests.

2. 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.

3. Sold pursuant to the 10b5-1 Plan adopted by SFS Corp on September 16, 2025.

4. Represents the weighted average price of shares sold. The price of the shares sold ranged from $3.28 to $3.52 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 $3.33 to $3.45 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. The conversion rights related to the UWM Paired Interests do not expire.

Remarks:

	/s/ Mat Ishbia	05/08/2026
	/s/ Mat Ishbia, CEO, for SFS Holding Corp.	05/08/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transactions did UWM Holdings (UWMC) report in this Form 4?

The filing reports SFS Holding Corp, tied to UWM CEO Mat Ishbia, sold 2,006,666 shares of Class A Common Stock and converted 14,245 UWM Paired Interests into an equal number of Class A shares as part of related transactions.

At what prices were UWM Holdings (UWMC) shares sold in the latest insider sale?

The open-market sales occurred at a weighted average price of $3.39 per share. Footnotes state individual sale prices ranged from $3.28 to $3.52 and from $3.33 to $3.45 per share across the reported transactions.

Who actually sold the UWM Holdings (UWMC) shares disclosed in this Form 4?

The seller is SFS Holding Corp, a 10% holder of UWM Holdings. Mat Ishbia is CEO and sole director of SFS Holding Corp and exercises voting and dispositive power over its securities, linking the transactions to his insider position.

Were the recent UWM Holdings (UWMC) insider sales made under a trading plan?

Yes. A footnote explains the shares were sold pursuant to a Rule 10b5-1 trading plan adopted by SFS Holding Corp on September 16, 2025, indicating the sales were pre-arranged rather than timed discretionarily.

What are UWM Paired Interests mentioned in the UWM Holdings (UWMC) filing?

Each UWM Paired Interest consists of one non-economic voting Class D share of UWM Holdings Corp and one Class B common unit of UWM Holdings, LLC. Each paired interest is convertible into one share of Class A Common Stock under the terms described.

How many UWM Holdings (UWMC) shares does Mat Ishbia hold after these transactions?

After the reported transactions, Mat Ishbia holds 408,131 Class A Common shares directly. Through SFS Holding Corp, over which he has voting and dispositive power, he is associated with 1,261,862,603 additional shares held indirectly.