Form 144: Shimmick insider plans additional 4,250-share sale via TD Securities
Rhea-AI Filing Summary
Shimmick Corporation (SHIM) – Form 144 filing overview
The notice, filed as a live submission with the SEC, discloses that insider Mitchell B. Goldsteen intends to sell 4,250 shares of Shimmick common stock through TD Securities (USA) LLC. The approximate sale date indicated is 24 June 2025, and the shares are expected to be executed on the NASDAQ market. Based on the quoted aggregate market value of $7,040.98, the implied price per share is roughly $1.66.
The company’s total shares outstanding are stated as 34,361,459; consequently, the proposed sale represents only about 0.012 % of the public float—an amount that is immaterial to the capital structure.
The filing also lists historical insider activity: over the past three months, Goldsteen executed 63 separate sales transactions totaling 168,341 shares for gross proceeds of approximately $285 k (sum of amounts shown), equal to roughly 0.49 % of shares outstanding. The shares to be sold were originally acquired on 9 Dec 2020 via a private transaction in which Goldsteen received 21,908,800 shares.
No remarks were provided, and the signature section reiterates the customary representation that the filer is not in possession of undisclosed material adverse information. No 10b5-1 plan adoption date is specified.
Key takeaways for investors
- Planned sale is very small relative to the float and unlikely to affect share supply materially.
- However, the continued pattern of insider sales (168 k shares in three months) could influence sentiment.
- No financial performance data or strategic updates accompany the notice; it is strictly a compliance filing.
Positive
- None.
Negative
- Ongoing insider selling trend: 168,341 shares sold in the last three months and a new notice for 4,250 additional shares could dampen investor sentiment despite being <1 % of float.
Insights
TL;DR: Routine Form 144; low volume sale, limited direct impact.
The 4,250-share sale equates to roughly 0.01 % of outstanding stock, well below thresholds that would pressure liquidity or signal a major ownership shift. Even when aggregated with the 168 k shares sold since late March, the insider’s distribution remains under 0.5 % of shares outstanding. From a valuation perspective, the dollar amounts involved (≈$7 k proposed, ≈$285 k prior) are insignificant for most institutional models. Investors should view this as a routine compliance disclosure rather than a catalyst. The only noteworthy aspect is the consistency of selling, which may weigh on sentiment but does not alter fundamentals.
TL;DR: Continued insider selling trend worth monitoring, but not material yet.
Form 144 filings highlight insider intent before market sales. Goldsteen’s pattern—63 sales in three months plus a new 4,250-share notice—shows an incremental liquidation strategy. Because his original 21.9 million-share position suggests significant holdings remain, the governance concern is minimal unless the pace accelerates or aggregates beyond 1 % of float in a short window. Absence of a disclosed 10b5-1 plan leaves open questions about timing discretion, yet the filer affirms no undisclosed adverse information. Overall impact is neutral, though continued monitoring of filings is advisable.
FAQ
How many Shimmick (SHIM) shares does the insider plan to sell in this Form 144?
What is the approximate date of the planned sale?
Which broker will execute the sale?
How many shares has the insider sold in the past three months?
What percentage of Shimmick’s outstanding shares does the new sale represent?
When were the shares originally acquired by the insider?
