Form 4: Loren Unterseher disposes 188,976 SKYT shares, retains 7.17M stake
Rhea-AI Filing Summary
Loren A. Unterseher and affiliated entities reported sales of SkyWater Technology, Inc. (SKYT) common stock on September 12, 2025. The filing shows 188,976 shares disposed of in multiple transactions at sale prices ranging from $10.14 to $10.81 per share, with a weighted average price of $10.4719. After the reported transactions, the aggregate number of shares beneficially owned by the reporting person(s) is 7,171,626. The filing discloses both direct and indirect holdings across several vehicles, including CMI Oxbow Partners, LLC, Oxbow Industries, LLC, various grantor retained annuity trusts, family trusts for children, a spouse, and a family irrevocable trust. The reporting person signed the Form 4 on 09/16/2025.
Positive
- Transparent pricing disclosure: filing provides sale price range ($10.14–$10.81) and weighted average ($10.4719) for 188,976 shares
- Substantial retained ownership: reporting persons still beneficially own 7,171,626 shares after the transactions
- Clear ownership structure: direct and indirect holdings across named trusts and entities are disclosed
Negative
- Insider disposition: 188,976 shares were sold on 09/12/2025, representing an outflow of insider-held stock
- Concentration in related parties: significant ownership is held indirectly through multiple affiliated entities and trusts, which may complicate assessment of control
Insights
TL;DR: Insider sold a modest parcel while retaining a large beneficial stake, suggesting liquidity activity without full exit.
The sale of 188,976 shares at prices between $10.14 and $10.81 represents an identifiable insider disposition but is small relative to the reported post-transaction beneficial ownership of 7,171,626 shares. The filing clearly allocates holdings among direct and indirect vehicles, and the filer disclaims beneficial ownership of shares held directly by CMI except to the extent of pecuniary interest. This disclosure is routine under Section 16 and provides transparent pricing ranges and a weighted average for the executed transactions.
TL;DR: Transaction complies with reporting rules and discloses ownership structure and trust holdings.
The Form 4 documents required elements: transaction date, codes, quantities, price information, and an explanation of indirect ownership through CMI and Oxbow entities and family trusts. The reporting person identifies multiple indirect ownership vehicles and includes a standard disclaimer regarding beneficial ownership of shares held by CMI. The filing includes an undertaking to provide detailed per-price share counts on request, which enhances disclosure completeness for regulators and investors.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 188,976 | $10.4719 | $1.98M |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Reflects the weighted average price of 188,976 shares of common stock of SkyWater Technology, Inc. sold in multiple transactions on September 12, 2025 with sale prices ranging from $10.14 to $10.81 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. Oxbow directly holds the shares reported in Column 5. Shares owned directly by Mr. Unterseher.
