Mat Ishbia - 01 Mar 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
Issuer symbol: UWMC
Transactions as of: 01 Mar 2024
Net transactions value: -$627,547
Form type: 4
Filing time: 05 Mar 2024, 16:27:09 UTC
Previous filing: 12 Feb 2024
Next filing: 04 Sep 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	UWMC	Class A Common Stock	Options Exercise	$0	+267,037		$0.000000	267,037	01 Mar 2024	Direct	F1
transaction	UWMC	Class A Common Stock	Tax liability	$627,547	-95,517	-36%	$6.57	171,520	01 Mar 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	-267,037	-100%	$0.000000^*	0	01 Mar 2024	Class A Common Stock	267,037		Direct	F5, F7
holding	UWMC	Class D Common Stock						1,502,069,787	01 Mar 2024	Class A Common Stock	1,502,069,787		See Footnote	F3, F4
holding	UWMC	Class B Common Units of UWM Holdings, LLC						1,502,069,787	01 Mar 2024	Class A Common Stock	1,502,069,787		See Footnote	F3, F4
holding	UWMC	Restricted Stock Units						152,990	01 Mar 2024	Class A Common Stock	152,990		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.