Mat Ishbia

Mat Ishbia, President and CEO of UWM Holdings (UWMC), has been a consistent seller of company stock over the past year, with SEC Form 4 filings showing 237 total transactions, all of which were sales. The aggregate value of these dispositions reached approximately $632.4 million, with zero open-market purchases or acquisitions recorded during the period. This one-sided pattern indicates a clear selling bias, as Ishbia has not added to his position through any buy-side activity. The most recent cluster of trades, spanning from April 10 through May 8, 2026, shows a daily cadence of sales, each ranging between roughly $3.3 million and $3.9 million. For example, on May 8, Ishbia sold shares worth $3.4 million, following a similar sale on May 7 and a slightly larger transaction of $3.67 million on May 6. The pattern continued through late April, with sales on April 30 ($3.3 million), April 29 ($3.5 million), and April 28 ($3.6 million). Interspersed with these sales are conversion transactions (coded "C") valued at $0, which represent the conversion of derivative securities and are not cash-generating events. The consistency of these sales—nearly every trading day over the observed window—suggests a systematic, pre-arranged disposition plan rather than opportunistic timing. The dollar amounts are tightly clustered, reinforcing the mechanical nature of the transactions. With no purchases or acquisitions in the filing history, Ishbia's activity is entirely one-directional, reducing his stake in UWMC while maintaining his role as CEO. The data does not indicate any recent shift toward buying, as the most recent filings continue to show sales through May 8, 2026.