Form 4: Loren Unterseher Disposes 1.26M SKYT Shares Over Three Days
Rhea-AI Filing Summary
SkyWater Technology, Inc. (SKYT) Form 4: Director and 10% owner Loren A. Unterseher reported multiple open-market sales of common stock on August 26–28, 2025. The filings show 756,516 shares sold on 08/26 at a weighted average price of $12.0639, 188,041 shares sold on 08/27 at $12.1077, and 311,959 shares sold on 08/28 at $12.2844, for total reported disposals of 1,256,516 shares across the three days. After those transactions his reported direct beneficial ownership declined from 8,161,012 shares to 7,661,012 shares. The Form 4 also lists multiple indirect holdings through entities and trusts and includes customary disclaimers about pecuniary interest and provision of per-price details on request.
Positive
- Transparent disclosure of multi-day insider sales including weighted average prices and post-transaction holdings
- Detailed ownership mapping listing direct and multiple indirect holdings through entities and trusts
- Willingness to provide full per-price sales breakdown upon request per the explanatory note
Negative
- Substantial insider selling of 1,256,516 shares across three days (08/2602508/28/2025), which materially reduced direct holdings
- No explanation provided in the Form 4 for the purpose of the sales (e.g., diversification, tax, collateral), leaving investors without context
Insights
TL;DR: Large, disclosed insider sales totalling 1,256,516 shares over three days; remaining direct stake still substantial.
The Form 4 documents sizeable open-market sales by Loren A. Unterseher, a director and reported 10% owner, across August 26–28, 2025. Total shares sold equal 1,256,516 with day-weighted average prices between $12.0639 and $12.2844. After the sales his direct beneficial holdings decreased from 8,161,012 to 7,661,012 shares, indicating a meaningful reduction but retention of a large position. The filing details extensive indirect holdings via CMI Oxbow Partners, Oxbow Industries and various trusts, and includes standard disclaimers about beneficial ownership. For investors this is material disclosure of insider liquidity but the filing contains no explanations for the sales.
TL;DR: Insider fully reported multi-day sales and ownership structure; transparency is good, but sales are material.
The filing complies with Section 16 reporting: it reports multiple transactions, weighted average sale prices per day, and the post-transaction ownership counts. It also clarifies the reporting persons roles in related entities and disclaims direct beneficial ownership of shares held by those entities except to the extent of pecuniary interest. The declaration to provide detailed per-price quantities upon request enhances transparency. There is no additional context provided about the reason for sales; governance disclosure obligations appear met.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 311,959 | $12.2844 | $3.83M |
| Sale | Common Stock | 188,041 | $12.1077 | $2.28M |
| Sale | Common Stock | 756,516 | $12.0639 | $9.13M |
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Footnotes (1)
- Reflects the weighted average price of 756,516 shares of common stock of SkyWater Technology, Inc. sold in multiple transactions on August 26, 2025 with sale prices ranging from $11.65 to $12.33 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. Reflects the weighted average price of 188,041 shares of common stock of SkyWater Technology, Inc. sold in multiple transactions on August 27, 2025 with sale prices ranging from $12.00 to $12.395 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. Reflects the weighted average price of 311,959 shares of common stock of SkyWater Technology, Inc. sold in multiple transactions on August 28, 2025 with sale prices ranging from $12.00 to $12.53 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. Oxbow directly holds the shares reported in Column 5. Shares owned directly by Mr. Unterseher.
