Mat Ishbia 4

What Happened Mat Ishbia, CEO and a reported 10% owner of UWM Holdings Corp (UWMC), sold a total of 2,001,148 shares in open‑market transactions on March 24–25, 2026. The filing shows 1,000,574 shares sold at an average price of $3.63 on 3/24 (≈ $3,632,084) and 1,000,574 shares sold at $3.55 on 3/25 (≈ $3,552,038), for combined proceeds of about $7.18 million. The sales were executed (at least in part) pursuant to a 10b5‑1 plan established by SFS Corp; some shares were held directly by Mat Ishbia and others were held by SFS Corp, an entity he controls.

Key Details

• Transaction dates & amounts: 3/24/2026 — 1,000,574 shares @ $3.63 (≈ $3,632,084); 3/25/2026 — 1,000,574 shares @ $3.55 (≈ $3,552,038). Total sold: 2,001,148 shares for ≈ $7.18M.
• Price ranges / averages: filing notes weighted‑average prices; ranges reported between $3.48–$3.73 per share (see footnotes for breakdown).
• Holdings after the sale: not specified in the provided excerpt; filing notes some shares are held directly by Mat Ishbia and others by SFS Corp (which he controls).
• Notable footnotes: sales were made pursuant to a 10b5‑1 plan adopted by SFS Corp (Sep 16, 2025). Footnotes also explain the indirect holdings via SFS Corp and provide price‑range details.
• Filing timeliness: Form 4 filed on 2026‑03‑25; based on dates provided, the filing appears timely.

Context These were outright sales, not purchases or option exercises. Because some shares were sold under a pre‑arranged 10b5‑1 plan and others were held/controlled via SFS Corp (a 10% holder he controls), the transactions may reflect pre‑planned disposition of holdings rather than an immediate trading signal about company prospects. As always, sales by insiders are factual events; they do not by themselves indicate the insider’s private view of the company’s future.