SkyWater director stock converted in IonQ merger
Non-employee director Edward Daly reported two dispositions of SkyWater common stock on July 31, 2026, in connection with transactions under an Agreement and Plan of Merger among SkyWater and IonQ.
Rhea-AI Filing Summary
Non-employee director Edward Daly reported two dispositions of SkyWater common stock on July 31, 2026, in connection with transactions under an Agreement and Plan of Merger among SkyWater and IonQ. 34,879 common shares and 4,304 RSU-settled shares were transferred to the issuer, and at the Effective Time each SkyWater share became the right to receive $15 in cash plus 0.4883 shares of IonQ common stock, with additional cash for any fractional shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
Disposition: 39,183 shares
Disposition
2 txns
Insider
Daly Edward
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Common Stock F1 | 34,879 | -- | -- |
| Disposition | Common Stock F2 | 4,304 | -- | -- |
Holdings After Transaction:
Common Stock — 0 shares (Direct)
Footnotes (2)
- F1. Represents shares of common stock of SkyWater Technology, Inc. ("SkyWater") disposed of pursuant to the consummation of the transactions contemplated by the Agreement and Plan of Merger (the "Merger Agreement"), dated as of January 25, 2026, by and among SkyWater, IonQ, Inc. ("IonQ"), Merger Subsidiary 1 Inc. ("Merger Subsidiary 1"), and Iris merger Subsidiary 2 LLC (now known as SkyWater Technology, LLC) ("Surviving Company"), including the merger of Iris Merger Subsidiary 1 with and into Surviving Company (the "Second Merger"). At the effective time of the First Merger (the "Effective Time"), each share of SkyWater common stock outstanding immediately prior to the Effective Time (subject to certain exceptions described in the Merger Agreement) automatically converted into the right to receive $15 in cash and 0.4883 shares of common stock of IonQ plus cash in lieu of any fractional shares.
- F2. Represents restricted stock units relating to shares of SkyWater common stock. Pursuant to the Merger Agreement, prior to the Effective Time, each award of restricted stock units relating to shares of SkyWater common stock held by a non-employee member of SkyWater's board of directors that was outstanding, whether vested or unvested, automatically became fully vested and settled in shares of SkyWater common stock. At the Effective Time, each share of SkyWater common stock automatically converted into the right to receive $15 in cash and 0.4883 shares of common stock of IonQ plus cash in lieu of any fractional shares.
Key Figures
Shares disposed (common stock): 34,879 shares
Shares disposed (RSU-settled stock): 4,304 shares
Cash merger consideration per share: $15
+1 more
4 metrics
Shares disposed (common stock)
34,879 shares
Disposition to issuer on 2026-07-31 pursuant to merger transactions
Shares disposed (RSU-settled stock)
4,304 shares
RSU awards vested and settled into shares, then disposed at the Effective Time
Cash merger consideration per share
$15
Per SkyWater common share at the Effective Time under the Merger Agreement
Stock merger consideration per share
0.4883 IonQ common shares
Per SkyWater common share at the Effective Time under the Merger Agreement
Key Terms
Agreement and Plan of Merger, restricted stock units, Effective Time
3 terms
Agreement and Plan of Merger regulatory
"transactions contemplated by the Agreement and Plan of Merger dated January 25, 2026"
An Agreement and Plan of Merger is a formal document where two companies agree to combine into one, outlining how the process will happen. It’s like a step-by-step plan for merging, and it matters because it shows both sides have agreed on the details before the official transition takes place.
restricted stock units financial
"Represents restricted stock units relating to shares of SkyWater common stock"
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.
Effective Time regulatory
"At the Effective Time, each share of SkyWater common stock automatically converted"
The exact clock time when a regulatory filing, approval, or corporate action formally becomes legally active; from that moment the change is binding and can be acted on. Investors care because the effective time marks when ownership, rights, trading rules, or new securities take effect — like a light switch turning on a contract or transaction — which determines when risks, benefits and market reactions begin.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What stock transactions did SkyWater Technology (SKYT) director Edward Daly report?
Edward Daly reported two dispositions on July 31, 2026, involving 34,879 shares of SkyWater common stock and 4,304 RSU-settled shares. Both were transferred to the issuer under a merger agreement with IonQ that converted each SkyWater share into cash and IonQ common stock.
How were Edward Daly’s restricted stock units in SkyWater (SKYT) treated in the merger?
Daly’s restricted stock units relating to SkyWater common stock automatically became fully vested before the Effective Time and settled in SkyWater shares. Those shares then converted into the right to receive $15 cash plus 0.4883 IonQ shares per share under the merger terms.
What is the key merger agreement referenced in the SkyWater (SKYT) Form 4 footnotes?
The footnotes reference an Agreement and Plan of Merger dated January 25, 2026, among SkyWater, IonQ, and merger subsidiaries. Under this agreement, SkyWater stock and certain equity awards converted into cash and IonQ shares at the Effective Time of the merger transactions.
AI-generated analysis. How Rhea-AI works. Not financial advice.
