UWM Holdings says SFS Holdings Corp., the company’s controlling shareholder tied to Mat Ishbia, has terminated its Rule 10b5-1 stock sale plan after the program helped lift trading liquidity and expand the public float.
UWM Holdings says its controlling shareholder has stopped a structured stock-sale program that had been used to expand the company’s public float and improve trading liquidity.
In a disclosure posted May 11, UWM said SFS Holdings Corp. terminated its Rule 10b5-1 trading plan effective May 8, 2026. UWM described the arrangement as part of a broader effort to increase the company’s float and market liquidity.
What UWM said
According to the company’s investor disclosure, the sales under the plan helped expand UWM’s public float by more than 135 million shares since June 2025. UWM also said average daily trading volume rose to more than 16 million shares during the program.
The company said all 10b5-1 plans have now been terminated, a point also reflected in its May 11 10-Q filing with the Securities and Exchange Commission.
Why it matters
SFS Holdings remains UWM’s largest shareholder and is controlled by Mat Ishbia. The termination ends a stock-sale mechanism that had been used to gradually add shares to the public market without a single large sale.
HousingWire also reported on the change later the same day, corroborating UWM’s announcement.
UWM has not indicated any new structured sale plan in the material reviewed.
Revision note
Initial automated publication.