[Form 4] UWM Holdings Corp Insider Trading Activity
Rhea-AI Filing Summary
UWM Holdings Corp director and CEO Mat Ishbia, through SFS Corp, reported open-market sales of 3,001,722 shares of Class A Common Stock. The trades occurred on March 19–23, 2026 in three blocks of 1,000,574 shares each, at reported weighted average prices of $3.67, $3.60 and $3.72 per share. A footnote states the sales were made pursuant to a Rule 10b5-1 trading plan adopted by SFS Corp on September 16, 2025, indicating they were pre-planned. After these sales, SFS Corp’s indirect holdings for Ishbia total 7,332,727 shares, while Ishbia also holds 408,131 shares directly, showing he retains a substantial position in UWM Holdings.
Positive
- None.
Negative
- None.
Insights
Large pre-planned insider sales reduce signaling impact but remain notable.
The filing shows SFS Corp, an entity associated with CEO Mat Ishbia, sold 3,001,722 UWM Holdings Class A shares via open-market transactions. Footnotes clarify these were executed under a Rule 10b5-1 trading plan adopted on September 16, 2025, suggesting a pre-scheduled program rather than ad hoc trading.
Because the transactions are both sizable and linked to a 10% holder, they are relevant for investors tracking ownership trends. At the same time, Ishbia, through SFS Corp and direct holdings, continues to own millions of shares, so he remains heavily exposed to the company’s equity. The lack of derivative activity in this filing indicates these moves are straightforward share sales rather than part of an option exercise strategy.
Future company filings will clarify whether this pattern of selling continues under the existing plan or tapers off after these blocks. The context that SFS Corp may be deemed a director by deputization underscores that these trades reflect activity by an entity closely tied to UWM’s leadership and governance structure.
Insider Trade Summary 10b5-1
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 1,000,574 | $3.72 | $3.72M |
| Sale | Class A Common Stock | 1,000,574 | $3.60 | $3.60M |
| Sale | Class A Common Stock | 1,000,574 | $3.67 | $3.67M |
| holding | Class A Common Stock | -- | -- | -- |
Footnotes (1)
- 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 $3.47 to $3.77 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 $3.55 to $3.70 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 $3.66 to $3.77 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.
