Inside Billionaire Mat Ishbia's Latest $9 Million UWM Stock Sale

Mat Ishbia, President and CEO of UWM Holdings Corporation (NYSE:UWMC), reported the open-market sale of 1.6 million shares of the major wholesale mortgage lender between Wednesday and Friday, according to a SEC Form 4 filing.The transaction value is based on the weighted average sale price of $5.74; the post-transaction value is based on the latest market close.How significant was the reduction in direct holdings as a result of this transaction?The sale represented a disposal of around 35% of Ishbia's indirect ownership, reducing his direct holdings from approximately 4.7 million to 3.1 millin shares. Nevertheless, Ishbia still indirectly owns 1.3 billion derivative securities, which make up the bulk of his holdings.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool