UWM Holdings Corp. (UWMC) – Form 4 insider activity filed 07/01/2025
CEO, President and 10% owner Mat Ishbia, acting through affiliated entity SFS Holding Corp., reported the following transactions:
- Sales: Three open-market sales executed under a Rule 10b5-1 plan adopted 03/17/2025.
- 06/27/25 – 400,036 Class A shares at a weighted average $4.12
- 06/30/25 – 400,036 shares at $4.13
- 07/01/25 – 400,036 shares at $4.23
- Conversion: On 07/01/25, SFS Holding converted 4.2 million UWM Paired Interests (Class B units + Class D voting share) into an equal number of Class A shares (transaction code “C”). No cash was exchanged (exercise price $0).
Post-transaction ownership
- Indirect (SFS Holding): 4,699,640 Class A shares
- Direct (Ishbia): 279,989 Class A shares
- Derivative holdings: 1,389,082,620 remaining UWM Paired Interests plus 180,737 restricted stock units vesting 03/01/26.
The net effect is an increase of 4.2 million Class A shares in the public float, partially offset by the 1.2 million shares sold. Ishbia retains a dominant economic and voting position through the paired-interest structure.
UWM Holdings (NYSE:UWMC) filed a Form 4 showing that President & CEO Mat Ishbia, through 10%-owner SFS Corp, sold 1,200,108 Class A shares on 24-26 Jun 2025 under a Rule 10b5-1 plan.
The shares were disposed at $4.14-$4.29, generating roughly $5 million in proceeds. After the transactions, SFS Corp’s indirect stake fell to 1,699,748 shares, while Ishbia personally holds 279,989 shares and 180,737 unvested RSUs that vest on 1 Mar 2026.