SKYT Form 4: 10b5-1 trades; options at $11.24 and $10.14

Rhea-AI Filing Summary

Steve Manko, CFO of SkyWater Technology, Inc. (SKYT) filed a Form 4 reporting transactions dated 08/08/2025. The filing shows acquisitions and dispositions executed pursuant to a Rule 10b5-1 trading plan entered March 14, 2025. The report records acquisitions of 9,707 and 28,138 shares tied to option activity and a disposition of 37,845 shares sold in multiple transactions at a weighted-average price of $13.622 (sales ranged $13.50–$13.78).

The Form discloses two option series: one with a $11.24 exercise price (28,138 underlying shares, expiration 02/25/2032) and one with a $10.14 exercise price (9,707 underlying shares, expiration 02/15/2034). The options vest ratably on each anniversary of the grant date. The filing also shows post-transaction beneficial ownership figures, including 368,407 shares following the reported sale.

Positive

• Transactions executed under a Rule 10b5-1 plan entered March 14, 2025, indicating pre-planned trading and compliance
• Outstanding options remain with clear exercise prices ($11.24 and $10.14) and multi-year expirations (02/25/2032 and 02/15/2034)

Negative

• Insider sale of 37,845 shares on 08/08/2025 at a weighted-average price of $13.622 (sales ranged $13.50–$13.78)
• Post-transaction beneficial ownership reported as 368,407 shares following the sale (change in direct holdings)

Insights

Corporate Governance Expert

TL;DR: Transactions were executed under a documented 10b5-1 plan and include option-related acquisitions plus an open-market sale.

The Form 4 shows the CFO used a Rule 10b5-1 plan entered on March 14, 2025, to effect trades on August 8, 2025, which supports compliance with pre-planned trading guidelines and reduces concerns about trading on undisclosed material information. The filing discloses both option-related acquisitions (9,707 and 28,138 underlying shares) and a sale of 37,845 shares at a weighted-average price of $13.622. The presence of multi-year option expirations (02/25/2032 and 02/15/2034) and ratable vesting schedules suggests typical executive equity compensation mechanics rather than one-off compensation changes. Overall governance signals are procedural and compliant based on the information provided.

Securities Analyst

TL;DR: Insider activity includes option-related acquisitions and a sizable sale; materiality appears routine but should be viewed in context of total holdings.

The filing reports two option series with exercise prices of $11.24 and $10.14 and specified expiration dates; these options were recorded on the same transaction date as the reported sales and acquisitions. The sale of 37,845 shares executed at a weighted-average price of $13.622 (range $13.50–$13.78) is explicitly disclosed. The Form lists beneficial ownership totals after the transactions, including 368,407 shares following the sale. From a market perspective, these are concrete changes in insider holdings; their investor impact depends on company market capitalization and average daily volume, information not included in this filing.

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).

X

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^*

Manko Steve

(Last) (First) (Middle)

2401 EAST 86TH STREET

(Street)

BLOOMINGTON MN 55425

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CFO

3. Date of Earliest Transaction (Month/Day/Year)
08/08/2025

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

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

X	Form filed by One Reporting Person
	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	08/08/2025		M		9,707(1)	A	$10.14	378,114	D
Common Stock	08/08/2025		M		28,138(1)	A	$11.24	406,252	D
Common Stock	08/08/2025		S		37,845(1)	D	$13.622(2)	368,407	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
Options to Acquire Common Stock	$11.24	08/08/2025		M			28,138(1)	(3)	02/25/2032	Common Stock	28,138	$0	15,856	D
Options to Acquire Common Stock	$10.14	08/08/2025		M			9,707(1)	(3)	02/15/2034	Common Stock	9,707	$0	29,124	D

Explanation of Responses:

1. The reported transaction was effected pursuant to a Rule 10b5-1 trading plan entered into by the reporting person on March 14, 2025.

2. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $13.50 to $13.78, inclusive.

3. 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.

Remarks:

	/s/ Christopher Hilberg, Attorney-in-Fact	08/12/2025
	** 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).
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FAQ

What did SkyWater (SKYT) CFO Steve Manko report on Form 4?

The Form 4 reports acquisitions and a sale on 08/08/2025, including acquisitions of 9,707 and 28,138 shares tied to option activity and a sale of 37,845 shares.

Were the trades by the SkyWater CFO part of a 10b5-1 plan?

Yes. The filing states the transactions were effected pursuant to a Rule 10b5-1 trading plan entered on March 14, 2025.

At what price were the shares sold by the reporting person?

The shares were sold at a weighted-average price of $13.622; the filing notes sales occurred at prices ranging from $13.50 to $13.78.

What option exercise prices and expirations are disclosed?

The Form discloses options with exercise prices of $11.24 (28,138 underlying shares, expiration 02/25/2032) and $10.14 (9,707 underlying shares, expiration 02/15/2034); options vest ratably on each anniversary of the grant date.

Who signed the Form 4 and when?

The Form 4 is signed by Christopher Hilberg, Attorney-in-Fact on 08/12/2025.