[Form 4] UWM Holdings Corporation Insider Trading Activity

Rhea-AI Filing Summary

LifeVantage Corporation (LFVN) received an Amendment No. 1 to Schedule 13G reporting that The Capital Management Corporation (a Virginia-based registered investment adviser) beneficially owned 1,266,110 common shares as of 30 June 2025. This holding represents 10.1 % of the company’s outstanding stock, pushing the adviser above the 10 % disclosure threshold.

The filer reports sole voting power over 1,249,510 shares and sole dispositive power over the full 1,266,110 shares; no shared voting or dispositive authority is indicated. The Schedule 13G was filed under Rule 13d-1(b), signifying a passive investment intent, and was signed by Compliance Officer Pamela Simms on 14 July 2025. No group affiliation, subsidiary attribution, or special control intent is disclosed.

Insights

Financial Analyst

TL;DR: Capital Management now owns 10.1 % of LFVN, signaling larger institutional presence but with passive intent.

The amended Schedule 13G shows that The Capital Management Corporation crossed the 10 % ownership line in LifeVantage, giving it meaningful—though not controlling— influence over shareholder votes. The filing cites Rule 13d-1(b), confirming the stake is held for ordinary investment purposes rather than activism. From a liquidity perspective, 1.27 million shares is material for a micro-cap like LFVN, potentially improving trading depth but also concentrating ownership. No sale intentions or control strategies are revealed, so immediate fundamental impact appears neutral.

Corporate Governance Specialist

TL;DR: 10 % passive stake adds an influential shareholder without signaling governance change.

Crossing the 10 % threshold triggers additional disclosure obligations and raises The Capital Management Corporation’s visibility in governance matters. However, the certification explicitly disclaims any intent to influence control, aligning with the passive Schedule 13G classification. Board composition, takeover defenses, or proxy dynamics remain unchanged. Investors should note potential voting alignment trends but do not need to anticipate immediate governance initiatives.

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
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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).

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)
07/11/2025

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	07/11/2025		S		400,036(1)	D	$4.14(2)	1,899,388	I	See Footnote(3)
Class A Common Stock	07/14/2025		S		400,036(1)	D	$4.22(4)	1,499,352	I	See Footnote(3)
Class A Common Stock								279,989	D(5)

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	(6)							(7)	(7)	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 $4.07 to $4.19 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 $4.15 to $4.27 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. These shares are held directly by Mat Ishbia and SFS Corp. has no interests in these shares.

6. These Restricted Stock Units ("RSUs") convert to Class A Common Stock on a one-for-one basis.

7. These RSUs vest on March 1, 2026. The RSUs were granted pursuant to the 2020 Omnibus Incentive Plan.

Remarks:

	/s/ Mat Ishbia	07/14/2025
	/s/ Mat Ishbia, CEO, for SFS Holding Corp.	07/14/2025
	** Signature of Reporting Person	Date
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