SFS Corp, tied to UWM (UWMC) CEO, sells 2.0M shares under 10b5-1 plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
UWM Holdings Corp insider Mat Ishbia, through SFS Corp, reported open‑market sales of Class A Common Stock. On April 7, 2026, an entity associated with him sold 1,000,574 shares at a weighted average price of about $3.61 per share. On April 8, 2026, the same entity sold another 1,000,574 shares at a weighted average price of about $3.87 per share. These transactions were carried out by SFS Corp under a Rule 10b5‑1 trading plan. After these sales, SFS Corp held 7,326,413 shares indirectly controlled by Ishbia, and he also held 408,131 shares directly.
Positive
- None.
Negative
- None.
Insights
CEO‑linked entity sold 2.0M shares under a pre‑planned 10b5‑1 program while retaining a large position.
The filing shows SFS Corp, a 10% holder associated with CEO Mat Ishbia, executed two open‑market sales totaling 2,001,148 shares of UWM Holdings Class A Common Stock. The reported weighted average prices were about $3.61 and $3.87 per share.
A footnote states the trades were made pursuant to a Rule 10b5‑1 plan adopted by SFS Corp, indicating they were pre‑scheduled rather than opportunistic. Following the transactions, SFS Corp still held 7,326,413 shares and Ishbia directly held 408,131 shares, so a substantial ownership stake remains visible in this filing.
Insider Trade Summary 10b5-1
Net Seller: 2,001,148 shares ($7,484,294)
Net Sell
3 txns
Insider
Mat Ishbia, SFS HOLDING CORP
Role
President and CEO | 10% Owner
Sold
2,001,148 shs ($7.48M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 1,000,574 | $3.87 | $3.87M |
| Sale | Class A Common Stock | 1,000,574 | $3.61 | $3.61M |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Class A Common Stock — 7,326,413 shares (Indirect, See Footnote);
Class A Common Stock — 408,131 shares (Direct)
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 $3.55 to $3.72 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 $3.83 to $3.92 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
First sale shares: 1,000,574 shares
First sale average price: $3.61 per share
Second sale shares: 1,000,574 shares
+5 more
8 metrics
First sale shares
1,000,574 shares
Open-market sale on April 7, 2026
First sale average price
$3.61 per share
Weighted average price on April 7, 2026
Second sale shares
1,000,574 shares
Open-market sale on April 8, 2026
Second sale average price
$3.87 per share
Weighted average price on April 8, 2026
Total shares sold
2,001,148 shares
Combined April 7–8, 2026 insider sales
Post-sale indirect holdings
7,326,413 shares
SFS Corp holdings after April 8, 2026 sale
Direct holdings
408,131 shares
Mat Ishbia directly held shares
Price range first sale
$3.55–$3.72 per share
Range for April 7, 2026 trades
Key Terms
Rule 10b5-1 Plan, open-market sale, Class A Common Stock, weighted average price, +1 more
5 terms
Rule 10b5-1 Plan financial
"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.
open-market sale financial
"transaction_action: open-market sale"
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
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.
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.
indirectly financial
"These securities are held directly by SFS Corp, a 10% holder of the Issuer, and indirectly by Mat Ishbia."
FAQ
What insider transactions did UWMC report for Mat Ishbia and SFS Corp?
The filing reports two open-market sales of UWM Holdings Class A Common Stock by SFS Corp, an entity associated with CEO Mat Ishbia, totaling about 2,001,148 shares at weighted average prices near $3.61 and $3.87 per share over two consecutive days.
Were the UWMC insider sales by SFS Corp made under a Rule 10b5-1 plan?
Yes. A footnote explains that the sales were made pursuant to a Rule 10b5-1 trading plan adopted by SFS Corp on September 16, 2025. Such plans pre-schedule trades, indicating the timing was determined in advance rather than based on short-term market developments.