Form 4: SkyWater Director & 10% Owner Sells Over 1.2M Shares

A director and 10% owner of SkyWater Technology, Loren A. Unterseher, along with affiliated entities, sold over 1.2 million shares of common stock in late August 2025.

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 1,256,516 shares of common stock were sold across three transactions from August 26 to August 28, 2025.
• The sales were executed pursuant to a Rule 10b5-1 trading plan, which allows insiders to set up a pre-scheduled plan for buying or selling shares.
• On August 26, 2025, 756,516 shares were sold at a weighted average price of $12.0639 per share, with individual sale prices ranging from $11.65 to $12.33.
• On August 27, 2025, 188,041 shares were sold at a weighted average price of $12.1077 per share, with individual sale prices ranging from $12.00 to $12.395.
• On August 28, 2025, 311,959 shares were sold at a weighted average price of $12.2844 per share, with individual sale prices ranging from $12.00 to $12.53.
• Following these transactions, the direct beneficial ownership of CMI Oxbow Partners, LLC decreased to 7,661,012 shares.
• Mr. Unterseher also directly holds 23,713 shares and indirectly holds 5,298,530 shares through various trusts and a spouse.

Sentiment

Score: 4

Explanation: The sale of over 1.2 million shares by a director and 10% owner is generally a negative signal, indicating a reduction in insider exposure. While the 10b5-1 plan mitigates the immediate implication of opportunistic selling, it still represents a significant divestment.

Positives

• The sales were conducted under a Rule 10b5-1 trading plan, indicating they were pre-scheduled and not based on recent material non-public information, which mitigates the negative signal typically associated with insider selling.

Negatives

• A significant number of shares, 1,256,516, were sold by a director and 10% owner, representing a reduction in insider exposure to the company's stock.
• The sales occurred over three consecutive trading days, suggesting a systematic reduction of holdings.

Future Outlook

No forward-looking statements or guidance are provided in this Form 4 filing.

Industry Context

This filing reports an insider transaction and does not provide information directly related to broader industry trends or competitors.

Related Party Transactions

• The transactions involve Loren A. Unterseher, a director and 10% owner, and entities he controls (CMI Oxbow Partners, LLC and Oxbow Industries, LLC), which are considered related parties. The sales are of common stock of the issuer.

Stakeholder Impact

• Shareholders: The sale by a significant insider could be perceived negatively, potentially leading to a decrease in investor confidence or downward pressure on the stock price.

Key Dates

Recommendation

While the insider selling is a negative signal, the fact that it was executed under a Rule 10b5-1 plan suggests it was pre-scheduled and not based on new, adverse material information. This mitigates the 'strong sell' implication. However, the significant volume of shares sold by a key insider warrants caution, suggesting a 'hold' rather than a 'buy' or 'strong buy' until further positive developments or clarity on the insider's long-term view emerges.

Keywords

SkyWater Technology, SKYT, Form 4, insider selling, beneficial ownership, Loren A Unterseher, CMI Oxbow Partners, Oxbow Industries, 10b5-1 plan, director, 10% owner