Form 4: Shimmick Corp Director Mitchell Goldsteen Sells Over 11,000 Shares Under Pre-Arranged Trading Plan

Shimmick Corp Director and 10% owner Mitchell B. Goldsteen reported the sale of 11,678 shares of common stock over three days in June 2025, executed under a pre-existing Rule 10b5-1 trading plan.

Summary

• Mitchell B. Goldsteen, a Director and 10% Owner of Shimmick Corp (SHIM), reported the sale of 11,678 shares of common stock between June 9, 2025, and June 11, 2025.
• On June 9, 2025, 820 shares were sold at a weighted average price of $1.52 per share, with prices ranging from $1.51 to $1.54.
• On June 10, 2025, 800 shares were sold at a price of $1.56 per share.
• On June 11, 2025, 10,058 shares were sold at a weighted average price of $1.66 per share, with prices ranging from $1.56 to $1.71.
• All sales were conducted pursuant to a Rule 10b5-1 sales plan adopted by Mr. Goldsteen on August 20, 2024.
• Following these transactions, Mr. Goldsteen indirectly beneficially owns 21,416,056 shares of Common Stock through GOHO, LLC, where he is the sole managing member. He disclaims beneficial ownership except for his pecuniary interest.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly negative. While insider selling can be perceived negatively, the fact that these sales were pre-planned under a Rule 10b5-1 plan mitigates the negative impact, suggesting a structured approach to personal financial management rather than a reaction to adverse company news.

Positives

• The sales were executed under a pre-arranged Rule 10b5-1 trading plan, indicating that the transactions were scheduled in advance and not based on new, undisclosed material information about the company's performance.

Negatives

• Insider selling, even when pre-planned, can sometimes be perceived negatively by the market as it reduces the direct equity alignment of a key insider with the company's stock performance.

Risks

• No specific risks beyond the general market perception of insider sales are mentioned in the document.

Future Outlook

The sales are part of a pre-arranged Rule 10b5-1 plan, suggesting a structured approach to liquidity or diversification by the insider rather than an immediate reaction to the company's short-term prospects.

Management Comments

• "The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 sales plan adopted by the reporting person on August 20, 2024."
• "Mr. Goldsteen disclaims beneficial ownership of these securities, except to the extent of any pecuniary interest therein."

Industry Context

Form 4 filings are routine disclosures for company insiders. These sales, executed under a 10b5-1 plan, are generally viewed as less impactful than unscheduled sales, often reflecting personal financial planning rather than a change in the insider's view of the company's fundamentals. The volume of shares sold is relatively small compared to the total indirect holdings, suggesting a diversification or liquidity event.

Related Party Transactions

• The reporting person owns the securities indirectly through GOHO, LLC, of which Mr. Goldsteen is the sole managing member. This is a standard disclosure for indirect beneficial ownership.

Stakeholder Impact

• Shareholders might view insider sales with caution, but the context of a Rule 10b5-1 plan helps to alleviate concerns that the sales are based on negative undisclosed information, potentially leading to a neutral to slightly negative impact on investor sentiment.

Key Dates

Recommendation

Keywords

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