Form 4: Shimmick Corp Director Sells Shares Under Pre-Arranged Trading Plan

Mitchell B. Goldsteen, a Director and 10% owner of Shimmick Corp, sold a total of 4,500 shares of common stock over two days in May 2025, pursuant to a 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 22, 2025, Mr. Goldsteen sold 2,000 shares of common stock at a weighted average price of $1.55 per share.
• On May 23, 2025, an additional 2,500 shares were sold at a weighted average price of $1.56 per share.
• These sales were conducted directly by Mr. Goldsteen.
• The transactions were executed pursuant to a Rule 10b5-1 sales plan, which was adopted by Mr. Goldsteen on August 20, 2024.
• Following these transactions, Mr. Goldsteen's beneficial ownership, primarily through GOHO, LLC, stands at 21,452,608 shares of common stock.
• Mr. Goldsteen is the sole managing member of GOHO, LLC and disclaims beneficial ownership of these securities, except to the extent of any pecuniary interest therein.

Sentiment

Score: 5

Explanation: The sentiment is neutral. While insider selling can sometimes be viewed negatively, the fact that these sales were conducted under a pre-arranged Rule 10b5-1 plan mitigates concerns about opportunistic selling or a negative signal regarding the company's prospects. The volume of shares sold is also relatively small compared to the total beneficial ownership.

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, adopted on August 20, 2024, indicating planned and compliant transactions rather than opportunistic selling, which enhances transparency and reduces concerns about insider information.

Negatives

• A director and 10% owner selling shares, even under a 10b5-1 plan, can sometimes be perceived by the market as a slight reduction in insider confidence, although the relatively small volume (4,500 shares) mitigates this concern.

Risks

• No specific risks are explicitly mentioned in this Form 4 filing beyond the general market perception associated with insider selling, which is mitigated by the Rule 10b5-1 plan.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

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.

Industry Context

This Form 4 filing reports an insider transaction and does not provide information relevant to broader industry trends or competitive analysis.

Corporate Governance

Related Party Transactions

• Mitchell B. Goldsteen owns a significant portion of his beneficial shares indirectly through GOHO, LLC, of which he is the sole managing member. This represents a standard related-party ownership structure for beneficial reporting.

Stakeholder Impact

• Shareholders: The sale of 4,500 shares represents a very minor dilution and is unlikely to have a significant direct impact on existing shareholders. The transparency of the 10b5-1 plan may reassure investors regarding compliance.

Key Dates

Keywords

Shimmick Corp, SHIM, Form 4, insider trading, stock sale, director, 10% owner, 10b5-1 plan, beneficial ownership