4/A: SkyWater Director Amends Insider Stock Sale Report

An amended SEC Form 4 filing reveals SkyWater Technology director Loren A. Unterseher corrected previously reported beneficial ownership amounts following recent stock sales.

Summary

• This filing is an amendment (Form 4/A) to a previously filed Form 4 on November 25, 2025, to correct an inadvertently reported incorrect holding amount.
• Loren A. Unterseher, a Director and 10% Owner of SkyWater Technology, Inc. (SKYT), reported two sales of common stock.
• On November 21, 2025, 100,000 shares of common stock were sold at a weighted average price of $14.1264 per share, with individual sale prices ranging from $14.00 to $14.29.
• On November 24, 2025, an additional 100,000 shares of common stock were sold at a weighted average price of $14.5267 per share, with individual sale prices ranging from $14.50 to $14.62.
• Following the November 21, 2025 transaction, the reported beneficial ownership was 4,687,394 shares.
• Following the November 24, 2025 transaction, the reported beneficial ownership was 4,587,394 shares.
• Mr. Unterseher holds shares directly (23,713) and indirectly through various entities and trusts, including CMI Oxbow Partners, LLC, Oxbow Industries, LLC, a family irrevocable trust, a 2024 grantor retained annuity trust, a revocable trust, and trusts for the benefit of his daughter and son.

Sentiment

Score: 4

Explanation: The filing reports significant insider sales by a director and 10% owner, which can be viewed with some caution by the market. Additionally, it corrects an initial reporting error, indicating a minor administrative oversight, though the correction itself is a positive for compliance.

Positives

• The amendment demonstrates the reporting person's commitment to regulatory compliance by correcting an initial error in beneficial ownership reporting.
• The stock sales occurred at prices above $14.00 per share, indicating a certain level of market valuation for SkyWater Technology's common stock at the time of the transactions.

Negatives

• The necessity of an amendment indicates an initial administrative error in reporting beneficial ownership amounts.
• Significant insider sales (200,000 shares in total) by a director and 10% owner could be perceived negatively by the market, potentially signaling a lack of confidence or a move to diversify holdings.

Risks

• Market Perception Risk: Large insider sales, even if for personal diversification, can sometimes be misinterpreted by investors as a negative signal regarding the company's future prospects, potentially leading to downward pressure on the stock price.
• Reporting Accuracy Risk: While corrected, the initial error in the Form 4 filing highlights the importance of meticulous accuracy in insider transaction reporting to maintain investor trust and regulatory compliance.

Future Outlook

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Management Comments

• 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.
• The reporting person's Form 4 filed on November 25, 2025 inadvertently reported incorrect holding amount.
• Mr. Unterseher disclaims beneficial ownership of such shares (held by CMI Oxbow Partners, LLC), except to the extent of any pecuniary interest therein.

Industry Context

This filing is specific to insider transactions and does not provide broader industry context or trends for SkyWater Technology, Inc. The reported sales reflect individual investment decisions by a director and 10% owner, rather than company-wide strategic or operational developments.

Related Party Transactions

• 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 shares of common stock, and Mr. Unterseher may be deemed to have a pecuniary interest in these shares.
• Oxbow Industries, LLC directly holds shares of common stock.
• Mr. Unterseher also holds shares indirectly through various family trusts, including a family irrevocable trust, a 2024 grantor retained annuity trust, a revocable trust, and trusts established for the benefit of his daughter and son.

Stakeholder Impact

• Shareholders: The insider sales by a director and 10% owner could influence investor sentiment and potentially impact the stock price. The amendment ensures accurate public disclosure of beneficial ownership.
• Regulatory Authorities (SEC): The filing demonstrates compliance with SEC reporting requirements by correcting an initial error, ensuring the accuracy of public records regarding insider transactions.

Next Steps

• The reporting person has committed to providing detailed information on the number of shares sold at each separate price upon request from the SEC, the issuer, or a security holder.

Key Dates

Recommendation

This filing primarily details insider stock sales and a correction to previously reported beneficial ownership. While insider sales by a director and 10% owner can sometimes be a negative signal, the transactions occurred at reasonable market prices, and the amendment demonstrates regulatory compliance. Without additional financial or operational updates from SkyWater Technology, Inc., a 'hold' recommendation is appropriate, advising investors to maintain their current position and await further company-specific news or broader market developments before making significant investment changes.

Keywords

SkyWater Technology, SKYT, Form 4/A, Insider Trading, Stock Sale, Beneficial Ownership, Director, 10% Owner, SEC Filing, Loren A. Unterseher