Mat Ishbia - Sep 16, 2024 Form 4 Insider Report for UWM Holdings Corp (UWMC)

Role
President and CEO, Director, 10%+ Owner
Signature
/s/ Mat Ishbia
Stock symbol
UWMC
Transactions as of
Sep 16, 2024
Transactions value $
-$10,140,000
Form type
4
Date filed
9/18/2024, 07:27 AM
Previous filing
Sep 17, 2024
Next filing
Oct 3, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction UWMC Class A Common Stock Conversion of derivative security +1.2M 1.2M Sep 16, 2024 See Footnote F1, F2
transaction UWMC Class A Common Stock Sale -$10.1M -1.2M -100% $8.45 0 Sep 16, 2024 See Footnote F2
holding UWMC Class A Common Stock 172K Sep 16, 2024 Direct F3

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 UWM Paired Interests Conversion of derivative security $0 -1.2M -0.08% $0.00 1.49B Sep 16, 2024 Class A Common Stock 1.2M See Footnote F1, F2, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each UWM Paired Interest consists of one share of non-economic voting Class D Common Stock of UWM Holdings Corporation (the "Issuer") ("Class D Stock") and one Class B common units of UWM Holdings, LLC ("UWM LLC") ("Class B Common Units"), a subsidiary of the Issuer. Each UWM Paired Interest is convertible for one share of Class A Common Stock of the Issuer (i) at any time at the option of the holder or (ii) automatically upon transfer to a third person. These shares of Class A Common Stock were acquired by SFS Holding Corp. ("SFS Corp") upon the conversion of an equal number of UWM Paired Interests and were immediately sold as described further in footnote 3 below.
F2 These securities are held directly by SFS Corp, a 10% holder of the Issuer, and indirectly by Mat Ishbia. Mat Ishbia is the Chief Executive Officer and sole director of SFS Corp and serves as the investment advisor to the trust that owns the voting securities of SFS Corp, and therefore exercises all voting and dispositive power of the securities held by SFS Corp. In addition, trusts for the benefit of Mat Ishbia and his immediate family are shareholders of SFS Corp. By virtue of its relationship with Mat Ishbia, a director and the CEO of the Issuer, SFS Corp may be deemed to be a director by deputization.
F3 These shares are held directly by Mat Ishbia and SFS Corp. has no interests in these shares.
F4 The conversion rights related to the UWM Paired Interests do not expire.