Form 4: Shimmick Corp Director and 10% Owner Mitchell Goldsteen Sells Shares Under Pre-Arranged Trading Plan

Mitchell B. Goldsteen, a Director and 10% owner of Shimmick Corp, has reported the sale of 8,790 shares of common stock over two days in late May 2025, executed under a pre-established Rule 10b5-1 trading plan.

Summary

• Mitchell B. Goldsteen, a Director and 10% owner of Shimmick Corp (SHIM), reported the sale of common stock.
• On May 27, 2025, Mr. Goldsteen directly sold 5,398 shares of common stock at a weighted average price of $1.82 per share, with prices ranging from $1.76 to $1.85.
• On May 28, 2025, an additional 3,392 shares were directly sold at a weighted average price of $1.71 per share, with prices ranging from $1.70 to $1.76.
• These sales were conducted pursuant to a Rule 10b5-1 sales plan adopted by Mr. Goldsteen on August 20, 2024.
• Following these transactions, Mr. Goldsteen's indirect beneficial ownership through GOHO, LLC stands at 21,443,818 shares of common stock.

Sentiment

Score: 4

Explanation: While insider sales are generally viewed negatively, the fact that they were conducted under a pre-arranged 10b5-1 plan mitigates some of the negative sentiment, as it suggests a planned divestment rather than a reaction to new adverse information. However, it still represents a reduction in insider ownership.

Positives

• The sales were executed under a pre-arranged Rule 10b5-1 trading plan, adopted on August 20, 2024, which indicates a planned divestment rather than an immediate reaction to new, undisclosed information.

Negatives

• A Director and 10% owner, Mitchell B. Goldsteen, sold a total of 8,790 shares of Shimmick Corp common stock.
• The sales occurred at weighted average prices of $1.82 and $1.71, which could be perceived as a lack of confidence in the stock's short-term appreciation by a significant insider.

Risks

• Insider selling, even under a 10b5-1 plan, can sometimes be interpreted by the market as a signal of reduced confidence in the company's future prospects by those with the most intimate knowledge.

Industry Context

This Form 4 filing reports routine insider stock sales by a director and significant shareholder. Such transactions are common across industries, particularly when executed under pre-arranged 10b5-1 plans, which are designed to allow insiders to sell shares without concerns about insider trading allegations.

Related Party Transactions

• Mitchell B. Goldsteen indirectly owns securities through GOHO, LLC, where he is the sole managing member. He disclaims beneficial ownership of these securities, except to the extent of any pecuniary interest therein.

Stakeholder Impact

• Shareholders may interpret the insider sales as a signal of reduced confidence, potentially leading to negative sentiment or downward pressure on the stock price, although the 10b5-1 plan mitigates this to some extent.

Key Dates

Recommendation

Keywords

Shimmick Corp, SHIM, Form 4, Insider Trading, Stock Sale, Mitchell B. Goldsteen, 10b5-1 Plan, Director, 10% Owner, Equity Sales, SEC Filing