Form 4: Shimmick Corp Director Sells 325,000 Shares Under 10b5-1 Plan

Mitchell B. Goldsteen, a director at Shimmick Corp, sold 325,000 shares of common stock at a weighted average price of $3.26 per share.

Summary

• Mitchell B. Goldsteen, a director of Shimmick Corp, sold 325,000 shares of the company's common stock on December 3, 2024.
• The shares were sold at a weighted average price of $3.26 per share, with individual transaction prices ranging from $2.86 to $3.61.
• The sale was executed under a pre-arranged Rule 10b5-1 trading plan adopted on August 20, 2024.
• Following the transaction, Mr. Goldsteen indirectly owns 21,583,800 shares through GOHO, LLC, where he is the sole managing member.
• Mr. Goldsteen disclaims beneficial ownership of these indirectly held securities, except to the extent of any pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a routine disclosure of a stock sale by a director under a pre-arranged plan. It doesn't inherently indicate positive or negative sentiment, but the market reaction could vary.

Risks

• The sale of a significant number of shares by a director could potentially signal a lack of confidence in the company's future performance to some investors.

Management Comments

• Mr. Goldsteen disclaims beneficial ownership of the indirectly held securities, except to the extent of any pecuniary interest.

Industry Context

This is a standard SEC Form 4 filing, which is common for corporate insiders who trade company stock. The use of a 10b5-1 plan is also a common practice to avoid accusations of insider trading.

Comparison to Industry Standards

• The sale of shares by a director is a common occurrence in publicly traded companies.
• The use of a 10b5-1 trading plan is a standard practice to allow insiders to sell shares without being accused of trading on non-public information.
• The volume of shares sold is not unusual for a director's holdings, but the market reaction will depend on the overall sentiment towards the company.

Stakeholder Impact

• The sale of shares by a director could potentially impact investor confidence, depending on market perception.

Key Dates

Keywords

Shimmick Corp, insider trading, Form 4, stock sale, Mitchell B. Goldsteen, Rule 10b5-1, GOHO, LLC, director