UWM Holdings (UWMC) 10% Holder SFS Corp Reports Planned Stock Sales

Rhea-AI Filing Summary

SFS Corp, a 10% holder of UWM Holdings Corp, reported planned sales of Class A common stock under a Rule 10b5-1 trading plan. On January 5, 6, and 7, 2026, SFS Corp sold 632,874 shares on each date at weighted average prices of $4.43, $4.45, and $4.70 per share, with detailed price ranges noted in the filing. These shares are held directly by SFS Corp and indirectly by Mat Ishbia, who is UWM’s President, CEO, director, and a 10% owner, and who exercises voting and dispositive power over SFS Corp’s holdings. After these transactions, SFS Corp reported continued indirect ownership of UWM Class A shares, while Mat Ishbia also holds 279,989 Class A shares directly and 180,737 restricted stock units that convert one-for-one into Class A shares and 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

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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)
01/05/2026

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	01/05/2026		S		632,874(1)	D	$4.43(2)	5,681,249	I	See Footnote(3)
Class A Common Stock	01/06/2026		S		632,874(1)	D	$4.45(4)	5,048,375	I	See Footnote(3)
Class A Common Stock	01/07/2026		S		632,874(1)	D	$4.7(5)	4,415,501	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 $4.28 to $4.51 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 $4.32 to $4.54 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 $4.54 to $4.84 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	01/07/2026
	/s/ Mat Ishbia, CEO, for SFS Holding Corp.	01/07/2026
	** Signature of Reporting Person	Date
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FAQ

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

The transactions were reported jointly by Mat Ishbia, UWM Holdings Corp’s President, CEO, director and 10% owner, and SFS Corp, a 10% holder of the company. The shares sold in the reported transactions are held directly by SFS Corp and indirectly by Mat Ishbia.

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

SFS Corp reported selling 632,874 shares of UWM Class A common stock on each of January 5, 6, and 7, 2026. All of these sales were reported as open market sales of non-derivative Class A common stock.

At what prices were the UWM Holdings Corp (UWMC) shares sold by SFS Corp?

The filing reports weighted average sale prices of $4.43 per share on January 5, $4.45 per share on January 6, and $4.70 per share on January 7, 2026. Footnotes explain that each day’s sales occurred within disclosed price ranges and that full price breakdowns are available upon request.

What is the relationship between SFS Corp and Mat Ishbia in this UWM (UWMC) Form 4?

The securities sold are held directly by SFS Corp and indirectly by Mat Ishbia. 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, giving him voting and dispositive power over the UWM shares held by SFS Corp.

Does Mat Ishbia hold any UWM Holdings Corp (UWMC) shares directly?

Yes. The Form 4 notes that 279,989 shares of UWM Class A common stock are held directly by Mat Ishbia, and SFS Corp has no interest in these directly held shares.

What restricted stock units (RSUs) related to UWM Holdings Corp (UWMC) does Mat Ishbia hold?

The filing reports 180,737 restricted stock units that convert to UWM Class A common stock on a one-for-one basis. These RSUs vest on March 1, 2026 and were granted under the company’s 2020 Omnibus Incentive Plan.

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

Yes. A footnote states that the reported share sales were made pursuant to a Rule 10b5-1 trading plan adopted by SFS Corp on March 17, 2025, indicating the transactions followed a pre-established plan.