Form 4: Shimmick Director and 10% Owner Sells Shares Under Pre-Arranged 10b5-1 Plan

Mitchell B. Goldsteen, a Director and 10% owner of Shimmick Corp, sold a total of 8,958 shares of common stock over three days in late July 2025, pursuant to a pre-arranged Rule 10b5-1 trading plan.

Summary

• Mitchell B. Goldsteen, a Director and 10% owner of Shimmick Corp (SHIM), reported sales of common stock.
• On July 28, 2025, 1,000 shares were sold at a weighted average price of $2.07 per share.
• On July 29, 2025, 3,958 shares were sold at a weighted average price of $1.87 per share.
• On July 30, 2025, 4,000 shares were sold at a weighted average price of $1.84 per share.
• The total number of shares sold across these three transactions was 8,958.
• All sales were effected 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, where he is the sole managing member, stands at 21,247,925 shares of Common Stock, par value $0.01 per share.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. While insider selling can be perceived negatively, the fact that these sales were conducted under a pre-arranged 10b5-1 plan mitigates concerns about opportunistic selling based on new, adverse information. It suggests a planned diversification or liquidity event rather than a bearish signal on the company's prospects.

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, adopted on August 20, 2024, indicating planned divestment rather than opportunistic selling based on new, non-public information.

Negatives

• Insider selling, even if pre-planned, reduces the alignment of interests between the insider and other shareholders.
• The average sale price declined over the three days of transactions, from $2.07 on July 28, 2025, to $1.84 on July 30, 2025.

Risks

• While the sales were pre-planned, significant insider selling by a director and 10% owner could be perceived negatively by the market, potentially impacting investor sentiment.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Management Comments

• The sales reported 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 specific to Shimmick Corp and does not provide information relevant to broader industry trends or competitive dynamics.

Corporate Governance

Related Party Transactions

• Mitchell B. Goldsteen owns the securities indirectly through GOHO, LLC, of which 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 differently; some may view it as a negative signal, while others may see it as a routine, pre-planned transaction for personal financial management.

Key Dates

Recommendation

The reported insider sales by a director and 10% owner, while notable, were conducted under a pre-arranged Rule 10b5-1 trading plan, which suggests a planned divestment rather than a reaction to new, negative information. This mitigates the typical negative signal of insider selling. Without additional financial or strategic updates from the company, these transactions alone do not provide sufficient grounds for a strong buy or sell recommendation, thus a 'hold' stance is appropriate to observe further developments.

Keywords

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