UWM Holdings Corporation (NYSE: UWMC) announced that SFS Holdings Corp., controlled by Mat Ishbia, has terminated its Rule 10b5-1 trading plan effective May 8.

The trading plan was implemented in 2025 following investor requests for increased public float and trading liquidity. According to the company, the plan successfully increased average daily trading volume to over 16 million shares and expanded the float by more than 135 million shares since June 2025.

SFS Holdings terminated the plan on the first day of UWMC's open trading window since December 2025. The company stated that SFS Holdings sold shares without regard to stock price during the plan's operation period.

SFS Holdings remains UWMC's largest shareholder with approximately 1.3 billion shares. The company indicated that the controlling shareholder fulfilled its commitment to address investment community requests through the share sales program.

UWM Holdings Corporation is the publicly traded parent of United Wholesale Mortgage, which the company describes as the nation's largest home mortgage lender operating exclusively through the wholesale channel. The company is headquartered in Pontiac, Michigan.