Form 4: SkyWater Director Sells $8M in Stock

A director and 10% owner of SkyWater Technology, Loren A. Unterseher, along with affiliated entities, sold over 630,000 shares of common stock in mid-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.
• On August 12, 2025, 345,765 shares were sold at a weighted average price of $12.8391 per share, with prices ranging from $12.53 to $13.44.
• On August 13, 2025, an additional 287,454 shares were sold at a weighted average price of $12.3824 per share, with prices ranging from $12.115 to $12.76.
• The total number of shares sold across these two days is 633,219.
• The transactions were conducted pursuant to a Rule 10b5-1(c) plan, indicating they were pre-scheduled.
• Following these transactions, CMI Oxbow Partners, LLC directly holds 9,812,589 shares.
• Mr. Unterseher also holds direct and indirect beneficial ownership of additional shares through various trusts and a spouse.

Sentiment

Score: 4

Explanation: The filing reports significant insider selling by a director and 10% owner. While the sales were conducted under a Rule 10b5-1 plan, which suggests they were pre-scheduled and not based on new, non-public information, large insider sales can still be perceived negatively by the market.

Positives

• The sales were conducted under a Rule 10b5-1(c) plan, indicating they were pre-scheduled and not necessarily based on new, non-public information, which mitigates the negative perception of insider selling.

Negatives

• Significant insider selling by a director and 10% owner could be perceived negatively by the market, potentially signaling a lack of confidence or a desire to diversify holdings.
• The total value of shares sold across the two days is approximately $8 million.

Risks

• Market perception risk: Large insider sales, even if pre-planned, can sometimes lead to negative market sentiment or speculation about the company's future prospects.

Future Outlook

NA

Industry Context

This filing is specific to insider transactions at SkyWater Technology, Inc. and does not provide broader industry context or trends.

Related Party Transactions

• The reported sales are by 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 to SkyWater Technology, Inc.

Stakeholder Impact

• Shareholders: May interpret the insider selling as a negative signal, potentially leading to downward pressure on the stock price.

Key Dates

Recommendation

While significant insider selling can be a bearish signal, the disclosure that these transactions were executed under a Rule 10b5-1 plan mitigates the immediate negative interpretation, suggesting the sales were pre-planned rather than reactive to new, adverse information. Without additional context on the company's fundamentals or broader market conditions, a "hold" recommendation is prudent, advising investors to monitor future developments and company performance.

Keywords

SkyWater Technology, SKYT, SEC Form 4, insider trading, stock sale, director, 10% owner, Loren A. Unterseher, Rule 10b5-1, beneficial ownership