SFS Corp, tied to UWM (NYSE: UWMC) CEO, sells 1.99M shares under 10b5-1 plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
UWM Holdings Corp insider activity shows significant stock sales linked to CEO Mat Ishbia through SFS Corp. SFS Corp, a 10% holder associated with Ishbia, sold 986,644 shares of Class A Common Stock at a weighted average price of $3.66 on April 28, 2026 and 1,000,574 shares at $3.50 on April 29, 2026, both as open‑market transactions under a pre‑arranged Rule 10b5‑1 trading plan. After these indirect sales, SFS Corp’s reported indirect holdings were 4,332,307 shares following the April 28 trade and 3,331,733 shares following the April 29 trade. Separately, Mat Ishbia holds 408,131 shares directly, which SFS Corp does not own.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 1,987,218 shares ($7,113,126)
Net Sell
3 txns
Insider
Mat Ishbia, SFS HOLDING CORP
Role
President and CEO | null
Sold
1,987,218 shs ($7.11M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 1,000,574 | $3.50 | $3.50M |
| Sale | Class A Common Stock | 986,644 | $3.66 | $3.61M |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Class A Common Stock — 3,331,733 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 $3.64 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 $3.44 to $3.66 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 2026-04-28: 986,644 shares at $3.66
Shares sold 2026-04-29: 1,000,574 shares at $3.50
Total shares sold: 1,987,218 shares
+2 more
5 metrics
Shares sold 2026-04-28
986,644 shares at $3.66
Open-market sale of Class A Common Stock by SFS Corp
Shares sold 2026-04-29
1,000,574 shares at $3.50
Open-market sale of Class A Common Stock by SFS Corp
Total shares sold
1,987,218 shares
Net sell shares across reported open-market transactions
Indirect holdings after 2026-04-29
3,331,733 shares
Class A Common Stock indirectly held via SFS Corp after latest sale
Direct holdings
408,131 shares
Class A Common Stock held directly by Mat Ishbia as of 2026-04-28
Key Terms
10b5-1 Plan, weighted average price, Class A Common Stock, 10% holder, +1 more
5 terms
10b5-1 Plan regulatory
"Sold pursuant to the 10b5-1 Plan adopted by SFS Corp on September 16, 2025."
A 10b5-1 plan is a pre-arranged strategy that allows company insiders to buy or sell their shares at predetermined times and prices, even while they are aware of confidential information. It acts like a scheduled appointment for trading, helping ensure transactions happen transparently and legally, which can reassure investors that trades are not based on insider knowledge.
weighted average price financial
"Represents the weighted average price of shares sold."
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.
Class A Common Stock financial
"security_title: Class A Common Stock"
Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.
10% holder regulatory
"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 UWMC report for Mat Ishbia and SFS Corp?
The report shows SFS Corp, a 10% holder associated with CEO Mat Ishbia, sold a total of 1,987,218 shares of UWM Holdings Class A Common Stock in open‑market sales on April 28 and 29, 2026, under a pre‑arranged 10b5‑1 trading plan.
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, so transaction timing follows the plan’s terms rather than ad‑hoc market decisions.