UWM Holdings Corp. Files Definitive Proxy Statement for Annual Meeting

Ticker: UWMC · Form: DEF 14A · Filed: 2024-04-25T00:00:00.000Z

Sentiment: neutral

Topics: Proxy Statement, Annual Meeting, Shareholder Vote, Corporate Governance, UWM Holdings

TL;DR

<b>UWM Holdings Corp. has filed its Definitive Proxy Statement for the upcoming annual meeting of stockholders on June 4, 2024.</b>

AI Summary

UWM Holdings Corp (UWMC) filed a Proxy Statement (DEF 14A) with the SEC on April 25, 2024. UWM Holdings Corp. filed a Definitive Proxy Statement (DEF 14A) on April 25, 2024. The annual meeting of stockholders is scheduled for Tuesday, June 4, 2024, at 9:30 a.m. Eastern Time. The meeting will be held at UWM Main Campus – North Auditorium, 585 S. Boulevard E, Pontiac, MI 48341. Stockholders of record as of April 8, 2024, are entitled to vote at the meeting. The filing indicates no fee was required for this filing, as it was paid previously or is not applicable.

Why It Matters

For investors and stakeholders tracking UWM Holdings Corp, this filing contains several important signals. This filing provides shareholders with essential information regarding the upcoming annual meeting, including the date, time, location, and record date for voting. As a DEF 14A filing, it details matters to be voted on by shareholders, which is crucial for corporate governance and investor participation.

Risk Assessment

Risk Level: low — UWM Holdings Corp shows low risk based on this filing. The filing is a routine DEF 14A, indicating standard corporate governance procedures rather than significant new financial or operational developments.

Analyst Insight

Shareholders should review the proxy statement to understand the proposals being voted on and exercise their voting rights at the June 4th meeting.

Key Numbers

Key Players & Entities

FAQ

When did UWM Holdings Corp file this DEF 14A?

UWM Holdings Corp filed this Proxy Statement (DEF 14A) with the SEC on April 25, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by UWM Holdings Corp (UWMC).

Where can I read the original DEF 14A filing from UWM Holdings Corp?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by UWM Holdings Corp.

What are the key takeaways from UWM Holdings Corp's DEF 14A?

UWM Holdings Corp filed this DEF 14A on April 25, 2024. Key takeaways: UWM Holdings Corp. filed a Definitive Proxy Statement (DEF 14A) on April 25, 2024.. The annual meeting of stockholders is scheduled for Tuesday, June 4, 2024, at 9:30 a.m. Eastern Time.. The meeting will be held at UWM Main Campus – North Auditorium, 585 S. Boulevard E, Pontiac, MI 48341..

Is UWM Holdings Corp a risky investment based on this filing?

Based on this DEF 14A, UWM Holdings Corp presents a relatively low-risk profile. The filing is a routine DEF 14A, indicating standard corporate governance procedures rather than significant new financial or operational developments.

What should investors do after reading UWM Holdings Corp's DEF 14A?

Shareholders should review the proxy statement to understand the proposals being voted on and exercise their voting rights at the June 4th meeting. The overall sentiment from this filing is neutral.

How does UWM Holdings Corp compare to its industry peers?

UWM Holdings Corp. operates in the mortgage banking and loan correspondent industry, a sector sensitive to interest rates and housing market conditions.

Are there regulatory concerns for UWM Holdings Corp?

The filing is made under the Securities Exchange Act of 1934, specifically Section 14(a), which governs the solicitation of proxies.

Industry Context

UWM Holdings Corp. operates in the mortgage banking and loan correspondent industry, a sector sensitive to interest rates and housing market conditions.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, specifically Section 14(a), which governs the solicitation of proxies.

What Investors Should Do

  1. Review the full DEF 14A filing for details on proposals and voting procedures.
  2. Ensure you are a shareholder of record by April 8, 2024, to be eligible to vote.
  3. Attend or submit proxy votes for the annual meeting on June 4, 2024.

Key Dates

Year-Over-Year Comparison

This is a DEF 14A filing, which is a standard annual disclosure. Specific financial or operational comparisons to prior filings are not detailed within this document excerpt.

Filing Stats: 4,456 words · 18 min read · ~15 pages · Grade level 15.7 · Accepted 2024-04-25 07:00:50

Key Financial Figures

Filing Documents

Executive Compensation

Executive Compensation 38 Summary Compensation Table 38 Grants of Plan-Based Awards 39 Outstanding Equity at Fiscal Year-End 40 Stock Vested in 2023 40 Potential Payments Upon a Termination or Change of Control 40 Proposal 2—Ratification of Independent Registered Public Accountants 41 Fees Paid to Deloitte 41 Pre-Approval Policies and Procedures for Audit and Permitted Non-Audit Services 42 Audit Committee Report 43 Proposal 3—Advisory Vote on Executive Officer Compensation 44 Proposal 44 Non-Binding Vote 44 Pay Versus Performance 45 CEO Pay Ratio 48

Security Ownership

Security Ownership 49 Q&A About Voting 51 Other Matters 55 UWM HOLDINGS CORPORATION>2024 PROXY STATEMENT PROXY SUMMARY BUSINESS HIGHLIGHTS Total originations of $108.3 billion in 2023, compared to $127.3 billion in 2022. Record purchase originations of $93.9 billion in 2023, compared to $90.8 billion originated in 2022. Total Mortgage Servicing Rights (MSRs) portfolio, the unpaid principal balance of MSRs of $299.5 billion on December 31, 2023, compared to $312.5 billion on December 31, 2022. Earnings Net loss of $69.8 million in 2023, compared to $931.9 million of net income in 2022. INDUSTRY PERFORMANCE In 2023, UWM was the largest wholesale mortgage lender in the U.S. by closed loan volume for the ninth consecutive year. UWM had the best purchase year of all time in 2023, maintaining our title as the largest purchase mortgage lender. Moreover, UWM continues to be the largest overall mortgage lender, despite originating mortgage loans exclusively through the wholesale channel. SCALE, EFFICIENCY & SERVICE In 2023, approximately 35,000 loan officers submitted at least one loan to UWM. We maintained an average application to clear-to-close time in 2023 of approximately 17 business days, compared to management's estimate of the industry average of 41 calendar days. Additionally, our service levels remain unrivaled, represented by our 2023 average Client Net Promoter Score of +88. ~35,000 17 days +88 Submitting LOs Application to Clear-to-Close Average Client Net Promoter Score UWM HOLDINGS CORPORATION>2024 PROXY STATEMENT 1 COMMITMENT TO CORPORATE RESPONSIBILITY Importance of Company Culture United Wholesale Mortgage is the nation's largest home mortgage lender with approximately 7,300 team members as of March 31, 2024. With a culture that emphasizes continuous innovation and elite client experience, UWM leads the market by delivering industry-leading technology and service to the independent mortgage broker. Working

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