Form 4: SkyWater Director & 10% Owner Sells $3.2M in Stock

A director and 10% owner of SkyWater Technology, Loren A. Unterseher, along with affiliated entities, sold 240,000 shares of common stock for approximately $3.2 million.

Summary

• Loren A. Unterseher, a Director and 10% Owner of SkyWater Technology, Inc. (SKYT), along with CMI Oxbow Partners, LLC and Oxbow Industries, LLC, reported sales of common stock.
• A total of 240,000 shares of common stock were sold across three transactions on September 18 and September 19, 2025.
• On September 18, 2025, 74,900 shares were sold at a weighted average price of $12.8054 per share, ranging from $12.50 to $13.49.
• Also on September 18, 2025, an additional 45,100 shares were sold at a weighted average price of $13.5892 per share, ranging from $13.50 to $13.80.
• On September 19, 2025, 120,000 shares were sold at a weighted average price of $14.0523 per share, ranging from $14.00 to $14.20.
• The total proceeds from these sales amount to approximately $3,258,138.78.
• These transactions were made pursuant to a Rule 10b5-1(c) contract, instruction, or written plan for the purchase or sale of equity securities.
• Following these transactions, Loren A. Unterseher, including direct and indirect holdings through affiliated entities and trusts, beneficially owns a total of 12,193,869 shares of common stock.

Sentiment

Score: 5

Explanation: The sentiment is neutral. While significant insider selling can be perceived negatively, the transactions were pre-scheduled under a Rule 10b5-1 plan, which mitigates the implication of opportunistic selling based on new negative information. The volume is notable, but the pre-planned nature suggests it's not a direct reaction to current events.

Positives

• The sales were executed at relatively strong price points, with the latest transaction at a weighted average of $14.0523 per share.
• The transactions were conducted under a Rule 10b5-1 plan, indicating they were pre-scheduled and not necessarily a reaction to recent negative company developments.

Negatives

• Significant insider selling by a director and 10% owner, totaling 240,000 shares, could be perceived negatively by the market, potentially signaling a lack of conviction or a need for liquidity.
• The substantial volume of shares sold represents a notable reduction in the reporting persons' direct holdings through CMI Oxbow Partners, LLC.

Risks

• No specific risks are mentioned in this Form 4 filing, as it primarily reports insider transactions.

Future Outlook

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

Management Comments

• Loren A. Unterseher is President of CMI Oxbow Partners, LLC and Managing Partner of Oxbow Industries, LLC, which is the majority member of CMI. CMI directly holds the shares of Common Stock reported in Column 5. As a result, he may be deemed to be the beneficial owner of, and to have a pecuniary interest in, such shares of Common Stock. Mr. Unterseher disclaims beneficial ownership of such shares, except to the extent of any pecuniary interest therein.

Industry Context

Not applicable for this type of filing as it reports individual insider transactions, not company performance or industry trends.

Related Party Transactions

• The reported transactions involve a director and 10% owner, Loren A. Unterseher, and entities (CMI Oxbow Partners, LLC and Oxbow Industries, LLC) with which he is affiliated, making these related party transactions.

Stakeholder Impact

• Shareholders may interpret the significant insider selling as a signal, potentially influencing their perception of the company's near-term prospects or the insider's confidence.
• The sale could lead to increased trading volume and potential short-term price volatility for SKYT shares.

Next Steps

• The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price for the reported transactions.

Key Dates

Recommendation

The recommendation is 'hold' because while the sale volume is substantial, it was conducted under a pre-arranged Rule 10b5-1 plan. This suggests the sale is for personal financial planning rather than a reaction to new, adverse company-specific information. Without additional context or company performance updates, this single Form 4 filing does not provide sufficient grounds for a 'buy' or 'sell' recommendation, but it warrants monitoring for any further insider activity or company news.

Keywords

SkyWater Technology, SKYT, Insider Trading, Form 4, Stock Sale, Director, 10% Owner, Loren A. Unterseher, CMI Oxbow Partners, Oxbow Industries, Rule 10b5-1