Form 4: SkyWater Technology Director Nancy Fares Receives Restricted Stock Units

Director Nancy Fares received 12,285 restricted stock units from SkyWater Technology on May 22, 2024, vesting contingent on continued service until the next annual meeting.

Summary

• Nancy Fares, a director at SkyWater Technology, received a grant of 12,285 restricted stock units (RSUs) on May 22, 2024.
• These RSUs will vest on the date immediately preceding the next annual meeting of SkyWater Technology's stockholders.
• Vesting is contingent upon Nancy Fares' continued service as a director until that vesting date.
• Following the transaction, Nancy Fares beneficially owns 40,923 shares of common stock.

Sentiment

Score: 7

Explanation: The document reflects a standard compensation practice, indicating stability and alignment of interests. The sentiment is neutral to positive.

Positives

• The grant of RSUs to a director aligns their interests with those of the shareholders, incentivizing continued service and contribution to the company's success.

Risks

• The vesting of the RSUs is contingent on continued service, meaning if Nancy Fares leaves the board before the vesting date, she will forfeit the unvested RSUs.

Future Outlook

The document does not contain specific forward-looking statements, but the RSU grant suggests an expectation of continued service from the director.

Industry Context

Grants of restricted stock units are a common form of executive compensation in the technology industry, used to attract and retain talent and align management interests with shareholder value.

Comparison to Industry Standards

• RSU grants are a standard compensation practice among publicly traded technology companies.
• Companies like GlobalFoundries and TSMC also utilize equity-based compensation to incentivize their directors and executives.
• The size of the grant is relative to the company's market capitalization and the director's role and responsibilities.

Stakeholder Impact

• The RSU grant aligns the director's interests with those of shareholders, potentially leading to decisions that benefit the company's long-term value.
• Employees may view the RSU grant as a positive sign of the company's commitment to its leadership.

Next Steps

• The RSUs will vest on the date immediately preceding the next annual meeting of the Issuer's stockholders, contingent on the reporting person's continued service on such vesting date.

Key Dates