UWM Holdings Corporation filed SEC Form 8-K: Leadership Update
$UWMC
Finance: Consumer Services
Finance
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): March 28, 2025
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March 28, 2025, Mr. Andrew Hubacker informed the Board of Directors of UWM Holdings Corporation (the “Company”) that he would be transitioning into a senior advisor role effective April 1, 2025. On March 28, 2025, the Board appointed Rami Hasani as the Company’s Executive Vice President, Chief Financial Officer, effective as of April 1, 2025. In addition, Mr. Hasani will assume the responsibilities of principal accounting officer.
Mr. Hasani, 44, has served as the Company’s Senior Vice President, Financial Reporting, Analysis & Compliance since February 2024, and prior to that as Vice President, Finance Reporting & Compliance since November 2020, where he led the efforts around technical accounting and financial reporting, including the quarterly and annual financial statement filings with the Securities and Exchange Commission, as well as the internal controls over financial reporting. Prior to joining the Company, Mr. Hasani was with Deloitte & Touche, LLP from 2003 to 2020, most recently serving as a Senior Manager in the Advisory practice. Mr. Hasani holds a B.S. degree from Oakland University in accounting and has been a Certified Public Accountant since 2004.
In connection with his promotion to Executive Vice President, Chief Financial Officer, the Compensation Committee has agreed (i) to increase Mr. Hasani’s base salary to $330,000, (ii) increase his annual bonus target under the Company’s Captains Annual Bonus Plan to $250,000 and (iii) grant him a long-term incentive plan (“LTIP”) award equal to 1.5% of the LTIP pool. The Compensation Committee also approved a one-time promotion award consisting of a grant of restricted stock units, in the amount of $1.0 million, upon Mr. Hasani’s appointment as Executive Vice President, Chief Financial Officer of the Company, which will vest on the seventh anniversary of the grant date. Mr. Hasani will be eligible to participate in all benefits and perquisites available to senior executive officers.
There are no other arrangements or understandings between Mr. Hasani, on the one hand, and the Company or any other persons, on the other hand, pursuant to which Mr. Hasani was appointed as Chief Financial Officer of the Company. There are no related party transactions between the Company and Mr. Hasani (or any of his immediate family members) requiring disclosure under Item 404(a) of Regulation S-K. Mr. Hasani does not have any family relationships with any of the Company’s directors or executive officers.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: March 31, 2025
| UWM HOLDINGS CORPORATION | ||||||||
| By: | /s/ Mathew Ishbia | |||||||
| Name: | Mathew Ishbia | |||||||
| Title: | Chairman, President and Chief Executive Officer | |||||||