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  4. [Form 4/A] SkyWater Technology, Inc Amended Insider Trading Activity

Loren Unterseher amends Form 4 after $SKYT sales totaling 240,000 shares

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4/A

Rhea-AI Filing Summary

Amended Form 4 shows Loren A. Unterseher and related entities executed preplanned sales of SkyWater Technology, Inc. (SKYT) common stock under a Rule 10b5-1 plan adopted June 13, 2025. Transactions occurred on September 18-19, 2025, selling a total of 240,000 shares at weighted-average prices of $12.8054, $13.5892 and $14.0523 respectively. After the reported sales, the beneficial ownership reported for the group is 6,931,626 shares. The filing clarifies Mr. Untersehers roles as President of CMI Oxbow Partners, LLC and Managing Partner of Oxbow Industries, LLC and disclaims direct beneficial ownership except for any pecuniary interest.

Positive

  • Sales executed under a Rule 10b5-1 plan, indicating preplanned transactions rather than opportunistic trades
  • Filing discloses chain of ownership and disclaimers clarifying Mr. Untersehers relationship to CMI Oxbow Partners and Oxbow Industries
  • Amendment and signature provided, showing attention to accurate SEC reporting

Negative

  • Significant share sales totaling 240,000 shares, which reduce the reporting group's holdings
  • Weighted-average sale prices vary across tranches ($12.8054, $13.5892, $14.0523), indicating sales occurred across a price range

Insights

TL;DR: Insider sold 240,000 SKyT shares via a preplanned 10b5-1 program, reducing reported holdings to 6.93m shares.

The sales were executed under a Rule 10b5-1 trading plan, which typically indicates pre-authorized disposition rather than opportunistic trading. Aggregate proceeds can be approximated by multiplying the weighted-average prices by shares sold, but the filing provides the specific weighted averages for each tranche. The remaining reported beneficial ownership of 6,931,626 shares remains substantial relative to the companys outstanding base (not provided here), so the transactions appear to be liquidity events rather than a full exit. Disclosure and amendment steps follow standard reporting practice.

TL;DR: The filing documents compliant, preplanned insider sales and clarifies ownership relationships and disclaimers.

The use of a 10b5-1 plan adopted June 13, 2025 and subsequent disclosure via an amended Form 4 aligns with governance expectations for planned insider transactions. The explanation includes the chain of ownership and a disclaimer of beneficial ownership except for pecuniary interest, which is standard for managers of affiliated investment entities. Investors can rely on the plan designation to understand timing was pre-authorized, and the amendment indicates attention to accurate SEC reporting.

Insider Unterseher Loren A, CMI Oxbow Partners, LLC, Oxbow Industries, LLC
Role Director, 10% Owner | Director, 10% Owner | Director, 10% Owner
Sold 240,000 shs ($3.26M)
Type Security Shares Price Value
Sale Common Stock 120,000 $14.0523 $1.69M
Sale Common Stock 74,900 $12.8054 $959K
Sale Common Stock 45,100 $13.5892 $613K
Holdings After Transaction: Common Stock — 6,931,626 shares (Direct)
Footnotes (1)
  1. Sales effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on June 13, 2025. Reflects the weighted average price of 74,900 shares of common stock of SkyWater Technology, Inc. sold in multiple transactions on September 18, 2025 with sale prices ranging from $12.50 to $13.49 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price. Mr. Unterseher is President of CMI Oxbow Partners, LLC ("CMI") and Managing Partner of Oxbow Industries, LLC ("Oxbow"), which is the majority member of CMI. CMI directly holds the shares of Common Stock reported in Column 5. As a result, he may be deemed to be the beneficial owner of, and to have a pecuniary interest in, such shares of Common Stock. Mr. Unterseher disclaims beneficial ownership of such shares, except to the extent of any pecuniary interest therein. Reflects the weighted average price of 45,100 shares of common stock of SkyWater Technology, Inc. sold in multiple transactions on September 18, 2025 with sale prices ranging from $13.50 to $13.80 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price. Reflects the weighted average price of 120,000 shares of common stock of SkyWater Technology, Inc. sold in multiple transactions on September 19, 2025 with sale prices ranging from $14.00 to $14.20 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
Unterseher Loren A
(Last) (First) (Middle)
4450 EXCELSIOR BLVD
SUITE 440
(Street)
MINNEAPOLIS MN 55416
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
SkyWater Technology, Inc [ SKYT ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
09/18/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
09/23/2025 		6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 09/18/2025 S(1) 74,900 D $12.8054(2) 7,096,726 D (3)
Common Stock 09/18/2025 S(1) 45,100 D $13.5892(4) 7,051,626 D (3)
Common Stock 09/19/2025 S(1) 120,000 D $14.0523(5) 6,931,626 D (3)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
1. Name and Address of Reporting Person*
Unterseher Loren A
(Last) (First) (Middle)
4450 EXCELSIOR BLVD
SUITE 440
(Street)
MINNEAPOLIS MN 55416
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
X Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
CMI Oxbow Partners, LLC
(Last) (First) (Middle)
4450 EXCELSIOR BOULEVARD
SUITE 440
(Street)
MINNEAPOLIS MN 55416
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
X Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
Oxbow Industries, LLC
(Last) (First) (Middle)
4450 EXCELSIOR BOULEVARD
SUITE 440
(Street)
MINNEAPOLIS MN 55416
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
X Director X 10% Owner
Officer (give title below) Other (specify below)
Explanation of Responses:
1. Sales effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on June 13, 2025.
2. Reflects the weighted average price of 74,900 shares of common stock of SkyWater Technology, Inc. sold in multiple transactions on September 18, 2025 with sale prices ranging from $12.50 to $13.49 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.
3. Mr. Unterseher is President of CMI Oxbow Partners, LLC ("CMI") and Managing Partner of Oxbow Industries, LLC ("Oxbow"), which is the majority member of CMI. CMI directly holds the shares of Common Stock reported in Column 5. As a result, he may be deemed to be the beneficial owner of, and to have a pecuniary interest in, such shares of Common Stock. Mr. Unterseher disclaims beneficial ownership of such shares, except to the extent of any pecuniary interest therein.
4. Reflects the weighted average price of 45,100 shares of common stock of SkyWater Technology, Inc. sold in multiple transactions on September 18, 2025 with sale prices ranging from $13.50 to $13.80 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.
5. Reflects the weighted average price of 120,000 shares of common stock of SkyWater Technology, Inc. sold in multiple transactions on September 19, 2025 with sale prices ranging from $14.00 to $14.20 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.
/s/ Loren A. Unterseher 09/24/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

At what prices were the SKyT shares sold?

The filing provides weighted-average prices: $12.8054, $13.5892, and $14.0523 for the three tranches; individual sale prices ranged from $12.50 to $14.20.

What was the remaining reported beneficial ownership after these sales?

Following the reported transactions, the groups beneficial ownership is reported as 6,931,626 shares.

Were these sales preplanned or spontaneous?

The sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on June 13, 2025.

Does Loren Unterseher claim direct beneficial ownership of the shares held by CMI?

The filing states Mr. Unterseher may be deemed to have a pecuniary interest but disclaims beneficial ownership except to the extent of any pecuniary interest.