SkyWater (SKYT) Form 4: CFO option exercises and Rule 10b5-1 sale
Rhea-AI Filing Summary
SkyWater Technology insider transactions: Steve Manko, identified as the company’s Chief Financial Officer and reporting person, entered into multiple transactions on 09/22/2025 under a Rule 10b5-1 trading plan. The Form 4 shows acquisitions of common stock via option exercises and a sale: options exercisable at prices of $11.24, $11.77 and $14 were exercised (4,856; 21,386; 17,141 shares respectively) and 43,383 shares were sold at a weighted-average price of $15.128 (sale prices ranged $14.89–$15.44). After these transactions, the filing reports 368,407 shares beneficially owned. The options vest ratably over four years from grant and have varying expiration dates through 2033.
Positive
- Transactions were executed under a Rule 10b5-1 plan, providing a documented trading arrangement.
Negative
- Reporting person sold 43,383 shares, reducing direct holdings to 368,407 shares.
Insights
TL;DR: CFO executed option exercises and a Rule 10b5-1 sale, resulting in a net reduction in directly held common shares.
The Form 4 documents option exercises at strike prices of $11.24, $11.77 and $14 for aggregate exercised shares of 43,383 and a contemporaneous sale of 43,383 shares at a weighted-average price of $15.128, with sale proceeds realized across multiple trades priced $14.89–$15.44. Post-transaction direct beneficial ownership is reported as 368,407 shares. The filing explicitly states the trades were effected under a Rule 10b5-1 plan established March 14, 2025, and that the options vest ratably over four years and expire between 2031 and 2033.
TL;DR: Disclosed transactions follow a documented 10b5-1 plan and include both option exercises and an open-market sale by a named officer.
The disclosure identifies Steve Manko as CFO and shows the mechanics: three separate option series exercised on 09/22/2025 and an equal aggregate number of shares sold the same day at a weighted-average of $15.128. The Form includes vesting schedules for the options and attendant expiration dates, and the filing is executed by an attorney-in-fact on behalf of the reporting person. The events are reported on a standard SEC Form 4 with required explanatory footnotes.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Options to Acquire Common Stock | 4,856 | $0.00 | -- |
| Exercise | Options to Acquire Common Stock | 21,386 | $0.00 | -- |
| Exercise | Options to Acquire Common Stock | 17,141 | $0.00 | -- |
| Exercise | Common Stock | 4,856 | $11.24 | $55K |
| Exercise | Common Stock | 21,386 | $11.77 | $252K |
| Exercise | Common Stock | 17,141 | $14.00 | $240K |
| Sale | Common Stock | 43,383 | $15.128 | $656K |
Footnotes (1)
- The reported transaction was effected pursuant to a Rule 10b5-1 trading plan entered into by the reporting person on March 14, 2025. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $14.89 to $15.44, inclusive. The options vest ratably on each of the first, second, third and fourth anniversaries of the grant date contingent on the reporting person's continuation in service on each applicable vesting date.
