Mat Ishbia - Mar 1, 2024 Form 4 Insider Report for UWM Holdings Corp (UWMC)

Role
President and CEO, Director, 10%+ Owner
Signature
/s/ Anthony Valentine, as Attorney-in-Fact for Mat Ishbia
Stock symbol
UWMC
Transactions as of
Mar 1, 2024
Transactions value $
-$627,547
Form type
4
Date filed
3/5/2024, 04:27 PM
Previous filing
Feb 12, 2024
Next filing
Sep 4, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction UWMC Class A Common Stock Options Exercise $0 +267K $0.00 267K Mar 1, 2024 Direct F1
transaction UWMC Class A Common Stock Tax liability -$628K -95.5K -35.77% $6.57 172K Mar 1, 2024 Direct F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction UWMC Restricted Stock Units Options Exercise $0 -267K -100% $0.00* 0 Mar 1, 2024 Class A Common Stock 267K Direct F5, F7
holding UWMC Class D Common Stock 1.5B Mar 1, 2024 Class A Common Stock 1.5B See Footnote F3, F4
holding UWMC Class B Common Units of UWM Holdings, LLC 1.5B Mar 1, 2024 Class A Common Stock 1.5B See Footnote F3, F4
holding UWMC Restricted Stock Units 153K Mar 1, 2024 Class A Common Stock 153K Direct F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On March 1, 2024, 267,037 of the Reporting Person's Restricted Stock Units ("RSUs") were settled for an equal number of Class A Common Stock.
F2 This transaction is not a sale of shares by the Reporting Person. Instead this reflects shares mandatorily withheld by the Company in accordance with the award agreement to meet the Company's minimum withholding obligations pursuant to a transaction exempt under Section 16b-3.
F3 Shares of Class D Common Stock of the Issuer ("Class D Stock") have 10 votes per share but no economic rights (including rights to dividends and distributions upon liquidation) and are issued in an equal amount to the number of Class B common units ("Class B Common Units") of UWM Holdings, LLC ("UWM LLC") held. Each stapled unit (consisting of one share of Class D Stock and one Class B Common Unit) is convertible and/or exchangeable for one share of Class A Common Stock of the Issuer.
F4 The securities are held directly by SFS Holding Corp. ("SFS"), of which the Reporting Person is the sole director and Chief Executive Officer. The Reporting Person disclaims beneficial ownership of the securities owned by SFS, except to the extent of his pecuniary interest therein.
F5 The Restricted Stock Units ("RSUs") convert to Class A Common Stock on a one-for-one basis.
F6 These RSUs vest on March 1, 2025.
F7 These RSUs vested on March 2, 2024.