Mat Ishbia 4

What Happened Mat Ishbia, a 10% owner and director/CEO of UWM Holdings Corp (UWMC), sold a total of 3,001,722 shares in three open-market transactions executed March 19, March 20 and March 23, 2026. Each trade was for 1,000,574 shares with proceeds of $3,672,107 (Mar 19 at $3.67 avg), $3,602,066 (Mar 20 at $3.60 avg) and $3,722,135 (Mar 23 at $3.72 avg), for aggregate proceeds of $10,996,308 (about $11.0M). The filing indicates these sales were made pursuant to a 10b5-1 plan.

Key Details

• Transaction dates and proceeds:
  • 2026-03-19: 1,000,574 shares sold, weighted avg $3.67, proceeds $3,672,107.
  • 2026-03-20: 1,000,574 shares sold, weighted avg $3.60, proceeds $3,602,066.
  • 2026-03-23: 1,000,574 shares sold, weighted avg $3.72, proceeds $3,722,135.
• Reported price ranges: shares sold ranged roughly $3.47–$3.77 per share across the transactions (per filing footnotes).
• Footnotes: sales were made pursuant to a 10b5-1 trading plan adopted by SFS Corp (Sept 16, 2025). Filing also explains ownership structure—some shares held by SFS Corp (a 10% holder) and some held directly by Mat Ishbia; trusts for Ishbia’s family hold interests in SFS Corp.
• Shares owned after transaction: not specified in the provided excerpt of the filing.
• Filing: Form 4 filed on 2026-03-23 (period of report begins 2026-03-19); filing appears to be within the required reporting window for these transactions.

Context These were open-market sales executed under a pre-arranged 10b5-1 plan, which are commonly used to sell holdings on a set schedule and do not necessarily reflect contemporaneous trading intentions. Because Mat Ishbia is both a 10% owner and the company’s CEO/director and some shares are held via SFS Corp and related trusts, the filing clarifies beneficial and dispositive control rather than indicating independent institutional trading.