Form 4: SkyWater Director Sells $2.8M in Shares

A director and 10% owner of SkyWater Technology, Loren A. Unterseher, reported selling 200,000 shares of common stock for approximately $2.86 million through pre-arranged plans.

Summary

• 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 were sold at a weighted average price of $14.1264 per share, totaling approximately $1,412,640.
• On November 24, 2025, another 100,000 shares were sold at a weighted average price of $14.5267 per share, totaling approximately $1,452,670.
• The total value of shares sold across both transactions is approximately $2,865,310.
• These transactions were made pursuant to a Rule 10b5-1(c) pre-arranged trading plan.
• Following the November 21, 2025 transaction, CMI Oxbow Partners, LLC, where Mr. Unterseher is President and Managing Partner of the majority member, reported directly owning 6,611,256 shares.
• After the November 24, 2025 transaction, CMI Oxbow Partners, LLC reported directly owning 6,711,256 shares, as stated in the filing.
• Mr. Unterseher also reported various indirect beneficial ownerships through trusts and a spouse, totaling 5,006,220 shares, and 23,713 shares directly. Oxbow Industries, LLC directly holds 3 shares.

Sentiment

Score: 4

Explanation: The sentiment is moderately negative due to significant insider sales, even though they were pre-planned under a 10b5-1 plan. While the plan mitigates the immediate negative signal, a director and 10% owner reducing their stake is generally not viewed as a strong positive for investor confidence.

Positives

• The sales were conducted under a Rule 10b5-1(c) plan, indicating they were pre-scheduled and not necessarily a reaction to recent negative news or a lack of confidence in the company's immediate future.

Negatives

• Insider sales, even under a 10b5-1 plan, can be perceived as a negative signal by the market, as a director and significant owner is reducing their stake in the company.
• The sale of 200,000 shares represents a significant reduction in direct holdings by entities associated with a key insider.

Future Outlook

NA

Industry Context

Insider sales are a routine part of market activity, often driven by personal financial planning or diversification strategies, especially when executed under a 10b5-1 plan. In the semiconductor industry, such sales are generally evaluated against the company's performance and broader market trends.

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 a significant portion of the shares reported, making these transactions related party dealings through entities controlled by the reporting person.

Stakeholder Impact

• Shareholders may interpret the insider sales as a lack of confidence, potentially leading to negative sentiment or downward pressure on the stock price.
• The sales under a 10b5-1 plan suggest personal financial planning rather than a direct reflection on company performance, which might mitigate some negative impact.

Key Dates

Recommendation

While significant insider sales by a director and 10% owner typically signal caution, the execution under a Rule 10b5-1 plan suggests these are pre-planned transactions for personal financial management rather than a reaction to new negative information. Without additional context on the company's fundamentals or other market factors, a 'hold' recommendation is appropriate, advising investors to monitor future filings and company performance rather than making an immediate 'buy' or 'sell' decision solely based on these insider sales.

Keywords

SkyWater Technology, SKYT, Insider Trading, Form 4, Stock Sale, Loren A. Unterseher, Director, 10% Owner, Rule 10b5-1, Beneficial Ownership