Form 4: SkyWater Director Sells Over 9,600 Shares

A director and 10% owner of SkyWater Technology, Inc. sold 9,662 shares of common stock for approximately $16.26 per share.

Summary

• Loren A. Unterseher, a Director and 10% Owner of SkyWater Technology, Inc. (SKYT), reported the sale of common stock.
• The transaction involved the disposition of 9,662 shares of common stock on November 18, 2025.
• The shares were sold at a weighted average price of $16.2559 per share, with individual sale prices ranging from $16.25 to $16.39.
• Following the reported transaction, Mr. Unterseher and related entities beneficially own a significant number of shares, including 4,787,394 shares directly by CMI Oxbow Partners, LLC, 3 shares directly by Oxbow Industries, LLC, and 23,713 shares directly by Mr. Unterseher.
• Additional shares are held indirectly through various trusts, including a family irrevocable trust (531,283 shares), a 2024 grantor retained annuity trust (1,229,864 shares), revocable trusts (2 and 651,818 shares), and trusts for the benefit of a daughter (687,811 shares each) and a son (687,812 shares each).

Sentiment

Score: 3

Explanation: The sale of shares by a director and 10% owner typically indicates a negative sentiment or belief that the stock is fully valued, which can be concerning for investors.

Negatives

• A director and 10% owner selling shares can be interpreted as a lack of confidence in the company's short-term prospects or that the stock is fully valued.
• The sale of 9,662 shares by a significant insider could potentially exert downward pressure on the stock price or signal a negative outlook to the market.

Risks

• Potential negative market perception due to insider selling, which could lead to decreased investor confidence.
• The transaction might signal that the insider believes the stock is currently overvalued or that future growth prospects are limited.

Future Outlook

No specific future outlook or guidance is provided in this insider transaction report.

Industry Context

This filing is an insider transaction report and does not provide broader industry context or trends.

Related Party Transactions

• Loren A. Unterseher, a Director and 10% Owner, is President of CMI Oxbow Partners, LLC and Managing Partner of Oxbow Industries, LLC, both of which are also reporting persons and hold significant shares.
• Shares are held indirectly through various trusts, including a family irrevocable trust, a grantor retained annuity trust, revocable trusts, and trusts for the benefit of Mr. Unterseher's daughter and son, indicating extensive related party interests.

Stakeholder Impact

• Shareholders: May perceive the insider sale as a negative signal, potentially leading to decreased investor confidence and downward pressure on the stock price.
• Management/Employees: No direct impact mentioned, but could affect morale if interpreted negatively by the market.

Key Dates

Recommendation

The sale of shares by a director and 10% owner, Loren A. Unterseher, suggests a potential lack of confidence in the company's near-term growth or that the insider believes the stock is currently overvalued. While the amount sold is a small fraction of total beneficial ownership, insider selling, particularly from a significant stakeholder, often precedes periods of underperformance or indicates that the stock has reached a peak in the insider's view. This action warrants caution and a re-evaluation of the investment thesis, leaning towards a sell recommendation for investors seeking to mitigate potential downside risk.

Keywords

SkyWater Technology, SKYT, Insider Trading, Form 4, Share Sale, Director Transaction, Beneficial Ownership, Loren A. Unterseher, CMI Oxbow Partners, Oxbow Industries