WOLFE ADAM A 4

What Happened Adam A. Wolfe, EVP, Chief Legal Officer & Chief Administrative Officer of UWM Holdings (UWMC), had 2,773 restricted stock units (RSUs) vest and convert one-for-one into 2,773 shares of Class A common stock on February 27, 2026 (transaction code M). The vested shares were valued at $4.41 each, for a gross value of approximately $12,229. To satisfy tax withholding obligations (transaction code F), the company withheld 807 of those shares (value ~ $3,559), leaving Wolfe with a net delivery of 1,966 shares (net value ≈ $8,670).

Key Details

• Transaction date: February 27, 2026 (reported on Form 4 filed March 2, 2026).
• Conversion/vesting: 2,773 RSUs converted to 2,773 Class A shares at $4.41/share (gross ≈ $12,229).
• Withholding: 807 shares were withheld for taxes (disposed) at $4.41/share (≈ $3,559). This was a mandatory withholding per the award agreement (not an open-market sale); the company notes the withholding is exempt under Rule 16b-3.
• RSU mechanics: RSUs convert to Class A common stock on a one-for-one basis (per footnote).
• Shares owned after the transaction: Not specified in the provided filing.
• Filing timeliness: Reported March 2, 2026 for a 2/27/2026 transaction — appears timely.

Context This was a routine vesting/settlement of RSUs, not an open-market purchase or sale. The withholding of shares to cover taxes is common and should not be read as a voluntary sell decision by the insider. Such award settlements give executives stock exposure but are typically driven by prior compensation grants and vesting schedules rather than a direct trading decision.