2,006,666 UWM (NYSE: UWMC) shares sold under 10b5-1 plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
UWM Holdings Corp insider reporting shows entities associated with President and CEO Mat Ishbia selling Class A Common Stock in open-market transactions. On May 5, 2026 and May 6, 2026, SFS Corp, a 10% holder, sold a total of 2,006,666 shares at weighted average prices of $3.45 and $3.66 per share under a Rule 10b5-1 trading plan. After these sales, indirect holdings through SFS Corp were 1,992,421 shares, while Mat Ishbia also held 408,131 shares directly.
Positive
- None.
Negative
- None.
Insights
Pre-planned insider sales reduce but do not eliminate a large position.
Entities associated with Mat Ishbia, including SFS Corp, sold a total of 2,006,666 shares of UWM Holdings Class A stock in open-market trades at weighted average prices of $3.45 and $3.66 per share.
The footnotes state these sales were executed under a Rule 10b5-1 trading plan adopted by SFS Corp, indicating they were pre-scheduled rather than opportunistic. Pre-planned sales typically carry less informational weight about management’s near-term view of the stock.
Following the sales, indirect holdings via SFS Corp were 1,992,421 shares, and Mat Ishbia’s direct holdings were 408,131 shares, showing he retains a substantial equity stake. With no derivative positions disclosed, the filing reflects straightforward share disposals within an ongoing, structured plan.
Insider Trade Summary 10b5-1
Net Seller: 2,006,666 shares ($7,133,698)
Net Sell
3 txns
Insider
Mat Ishbia, SFS HOLDING CORP
Role
President and CEO | null
Sold
2,006,666 shs ($7.13M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 1,003,333 | $3.66 | $3.67M |
| Sale | Class A Common Stock | 1,003,333 | $3.45 | $3.46M |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Class A Common Stock — 1,992,421 shares (Indirect, See Footnote);
Class A Common Stock — 408,131 shares (Direct, null)
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 $3.39 to $3.55 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 $3.43 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. These shares are held directly by Mat Ishbia and SFS Corp. has no interests in these shares.
Key Figures
Shares sold May 5, 2026: 1,003,333 shares at $3.45
Shares sold May 6, 2026: 1,003,333 shares at $3.66
Total shares sold: 2,006,666 shares
+2 more
5 metrics
Shares sold May 5, 2026
1,003,333 shares at $3.45
Open-market sale of Class A Common Stock
Shares sold May 6, 2026
1,003,333 shares at $3.66
Open-market sale of Class A Common Stock
Total shares sold
2,006,666 shares
Net-sell across two transactions
Indirect holdings after transactions
1,992,421 shares
Class A Common Stock held via SFS Corp
Direct holdings after transactions
408,131 shares
Class A Common Stock held directly by Mat Ishbia
Key Terms
Rule 10b5-1 Plan, weighted average price, director by deputization, 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. The price of the shares sold ranged from $3.39 to $3.55 per share."
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.
director by deputization regulatory
"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."
10% holder financial
"These securities are held directly by SFS Corp, a 10% holder of the Issuer, and indirectly by Mat Ishbia."
voting and dispositive power financial
"therefore exercises all voting and dispositive power of the securities held by SFS Corp."
FAQ
What insider transactions did UWM Holdings (UWMC) report in this Form 4?
The filing reports open-market sales of a total of 2,006,666 shares of UWM Holdings Class A Common Stock by SFS Corp, an entity associated with CEO Mat Ishbia, at weighted average prices of $3.45 and $3.66 per share over two days.
Were the UWMC insider stock sales made under a Rule 10b5-1 plan?
Yes. A footnote states the sales were made pursuant to a 10b5-1 Plan adopted by SFS Corp on September 16, 2025. Such plans pre-schedule trades, which usually makes the timing less indicative of short-term views on UWM Holdings’ share price.
What is Mat Ishbia’s remaining ownership in UWM Holdings after these transactions?
After the reported sales, indirect holdings via SFS Corp totaled 1,992,421 shares of Class A Common Stock, while Mat Ishbia also held 408,131 shares directly. A footnote clarifies SFS Corp has no interests in the directly held shares.
How large was the net change in UWMC holdings from this Form 4?
The transaction summary shows a net sale of 2,006,666 shares of UWM Holdings Class A Common Stock across two open-market transactions. There were no reported option exercises, gifts, or tax-withholding events in conjunction with these sales in this filing.