SkyWater (SKYT) risk chief amends Form 4 to fix tax-withheld shares

Rhea-AI Filing Summary

SkyWater Technology, Inc. executive Christopher Hilberg, Chief Risk & Compliance Officer, filed an amended Form 4 to correct clerical errors in previously reported tax-related share withholdings. On the original transaction date, shares of common stock were withheld at $9.23 per share to satisfy the issuer’s tax withholding obligations tied to vested restricted stock units under Rule 16b-3. The amendment clarifies that one withholding should have been 866 shares with post-transaction holdings of 39,656 shares, and another should have been 217 shares with post-transaction holdings of 40,522 shares. A footnote explains that, due to these earlier clerical errors, several subsequent Forms 4 understated Hilberg’s beneficial ownership by 1,462 shares.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Hilberg Christopher

Role Chief Risk & Compl. Officer

Type	Security	Shares	Price	Value
Tax Withholding	Common Stock	217	$9.23	$2K
Tax Withholding	Common Stock	866	$9.23	$8K

Holdings After Transaction: Common Stock — 40,522 shares (Direct, null)

Footnotes (1)

1. The Issuer withheld shares of common stock that would have otherwise been issuable to the Reporting Person to satisfy the Issuers tax withholding obligations in connection with the vesting of restricted stock units previously reported by the Reporting Person in accordance with Rule 16b-3. This Form 4/A is being filed solely to correct clerical errors in Column 4 (Securities Acquired (A) or Disposed of (D)) and the corresponding Column 5 totals in the original Form 4 filed on 12/13/2024. The transaction amount previously reported as 712 in Column 4 should have been reported as 217. As a result of these corrections, the Column 5 totals have been corrected from 40,027 to 40,522. No other changes have been made to the original filing. As a result of the clerical errors described in Note 2 and 4, subsequent Form 4s filed on February 20, 2025, February 27, 2025, March 19, 2025, December 10, 2025, February 19, 2026, March 17, 2026 and March 18, 2026 understated by 1,462 the number of shares of common stock beneficially owned by the reporting person following the reported transactions. This Form 4/A is being filed solely to correct clerical errors in Column 4 (Securities Acquired (A) or Disposed of (D)) and the corresponding Column 5 totals in the original Form 4 filed on 12/13/2024. The transaction amount previously reported as 1,833 should have been reported as 866. As a result of these corrections, the Column 5 totals have been corrected from 38,194 to 39,656. No other changes have been made to the original filing.

Key Figures

Tax-withheld shares (total): 1,083 shares First withholding correction: 866 shares at $9.23 Second withholding correction: 217 shares at $9.23 +2 more

5 metrics

Tax-withheld shares (total) 1,083 shares Shares withheld to satisfy tax obligations on RSU vesting

First withholding correction 866 shares at $9.23 Corrected from 1,833 shares; post-transaction 39,656 shares

Second withholding correction 217 shares at $9.23 Corrected from 712 shares; post-transaction 40,522 shares

Understated ownership 1,462 shares Amount prior Forms 4 understated beneficially owned shares

Price per share $9.23 per share Value used for tax-withholding dispositions of common stock

Key Terms

restricted stock units, Rule 16b-3, tax withholding obligations, beneficially owned, +1 more

5 terms

restricted stock units financial

"in connection with the vesting of restricted stock units previously reported"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

Rule 16b-3 regulatory

"previously reported by the Reporting Person in accordance with Rule 16b-3"

Rule 16b-3 is a Securities and Exchange Commission regulation that exempts certain routine, pre-approved transactions by company insiders from automatic liability for short-term trading profits. It acts like a safe harbor: if an insider follows a formal plan or the board approves specific transactions in advance, profits from buying and selling company stock within six months are not automatically reclaimed. Investors care because the rule clarifies when insider trades are permissible and reduces uncertainty about potential clawbacks.

tax withholding obligations financial

"to satisfy the Issuers tax withholding obligations in connection with the vesting"

beneficially owned financial

"understated by 1,462 the number of shares of common stock beneficially owned"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Form 4/A regulatory

"This Form 4/A is being filed solely to correct clerical errors"

Form 4/A is an amended filing that corrects or updates an earlier Form 4, the mandatory report that insiders (like company executives, directors, or large shareholders) must file when their ownership stakes change. Think of it as an edited receipt showing who bought or sold stock and when; investors use it to track insider confidence, detect potential conflicts, and spot trading patterns that might signal future company prospects.

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).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Hilberg Christopher

(Last) (First) (Middle)

2401 EAST 86TH STREET

(Street)

BLOOMINGTON MINNESOTA 55425

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
SkyWater Technology, Inc [ SKYT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Risk & Compl. Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
12/11/2024

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)
12/13/2024

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	12/11/2024		F(1)		217(2)	D	$9.23	40,522(3)	D
Common Stock	12/11/2024		F(1)		866(4)	D	$9.23	39,656(3)	D

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

Explanation of Responses:

1. The Issuer withheld shares of common stock that would have otherwise been issuable to the Reporting Person to satisfy the Issuers tax withholding obligations in connection with the vesting of restricted stock units previously reported by the Reporting Person in accordance with Rule 16b-3.

2. This Form 4/A is being filed solely to correct clerical errors in Column 4 (Securities Acquired (A) or Disposed of (D)) and the corresponding Column 5 totals in the original Form 4 filed on 12/13/2024. The transaction amount previously reported as 712 in Column 4 should have been reported as 217. As a result of these corrections, the Column 5 totals have been corrected from 40,027 to 40,522. No other changes have been made to the original filing.

3. As a result of the clerical errors described in Note 2 and 4, subsequent Form 4s filed on February 20, 2025, February 27, 2025, March 19, 2025, December 10, 2025, February 19, 2026, March 17, 2026 and March 18, 2026 understated by 1,462 the number of shares of common stock beneficially owned by the reporting person following the reported transactions.

4. This Form 4/A is being filed solely to correct clerical errors in Column 4 (Securities Acquired (A) or Disposed of (D)) and the corresponding Column 5 totals in the original Form 4 filed on 12/13/2024. The transaction amount previously reported as 1,833 should have been reported as 866. As a result of these corrections, the Column 5 totals have been corrected from 38,194 to 39,656. No other changes have been made to the original filing.

Remarks:

	/s/ Steve Manko, Attorney-in-Fact	04/23/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What does the SkyWater (SKYT) Form 4/A amendment for Christopher Hilberg change?

The amendment corrects clerical errors in prior Form 4 entries for tax-withholding share dispositions. It restates two withholding amounts and the related post-transaction holdings, ensuring the reported share counts and ownership totals accurately match the restricted stock unit vesting activity.

How many SkyWater (SKYT) shares were withheld for Christopher Hilberg’s taxes?

Two transactions report a total of 1,083 shares withheld for tax obligations. One corrected entry is 866 shares and the other is 217 shares, both in common stock, reflecting shares the issuer retained instead of delivering them upon restricted stock unit vesting.

At what price were Christopher Hilberg’s SkyWater (SKYT) tax-withholding shares valued?

Both corrected tax-withholding transactions use a price of $9.23 per share. This price is used to value the common stock withheld by the issuer to satisfy its tax withholding obligations triggered by the vesting of restricted stock units previously reported.

How did the Form 4/A correction affect Christopher Hilberg’s reported SkyWater (SKYT) holdings?

The amendment adjusts Column 5 totals to 39,656 shares and 40,522 shares after the respective transactions. A footnote notes earlier clerical errors caused several later Forms 4 to understate his beneficial ownership by 1,462 shares following the reported transactions.

Were Christopher Hilberg’s SkyWater (SKYT) transactions open-market sales or tax withholdings?

The transactions are classified as tax-withholding dispositions, not open-market sales. SkyWater withheld common shares that otherwise would have been issued to Hilberg to cover tax obligations arising from vesting restricted stock units, as described under Rule 16b-3.

Why did SkyWater (SKYT) file a Form 4/A instead of a new Form 4 for Christopher Hilberg?

Form 4/A is used to amend a prior Form 4. Here, it corrects clerical errors in the originally reported share amounts and resulting holdings. The filing states no other changes were made beyond fixing the misreported tax-withholding share counts and ownership totals.