SkyWater amends 10‑Q to disclose CEO and CFO 10b5‑1 sale plans; no financials changed

Snapshot: SkyWater Technology, Inc. (NASDAQ: SKYT) filed an amendment (Form 10‑Q/A) for the quarter ended March 30, 2025. The amendment corrects disclosure around insider Rule 10b5‑1 trading arrangements and adds related certifications and exhibits; it does not include or change financial statements.

Key facts & statistics

* Filing: Form 10‑Q/A (Amendment No. 1) for quarter ended March 30, 2025; original Q1 2025 Form 10‑Q was filed May 8, 2025.

* Shares outstanding: 48,037,024 shares as of May 5, 2025.

* Insider trading plans added: CEO Thomas Sonderman adopted a Rule 10b5‑1 plan (filed March 14, 2025) to sell up to 14,958 shares; term expires upon sale completion or June 15, 2026.

* CFO plan: Steve Manko adopted a Rule 10b5‑1 plan (filed March 14, 2025) to sell up to 449,146 shares; term expires upon sale completion or July 9, 2027.

* CFO plan size as % of outstanding shares (if fully executed): ~0.94% (449,146 / 48,037,024).

* Significant exhibit: Membership Interest Purchase Agreement with Spansion LLC (Exhibit 2.1, dated Feb 25, 2025) is included or referenced in the filing.

* Corporate status: Delaware corporation; company identifies as an accelerated filer, a smaller reporting company and an emerging growth company in this filing.

* Signatures: Filing signed by CEO Thomas Sonderman and CFO Steve Manko on September 22, 2025.

What's happening inside the company (straight to the point)

* The amendment is narrowly focused - it corrects an omission: Rule 10b5‑1 trading arrangements for the CEO and CFO were not disclosed in the original Q1 filing and are now added.

* Management has set predefined sale programs. These are routine governance measures that provide an affirmative defense to insider trading claims, but they also create a potential future supply of shares to market.

* The company continues to cooperate with SEC reporting requirements (added certifications and exhibits). The amendment explicitly states no financial statements are included or modified in this filing.

Income statement - positives and negatives (based on this amendment)

* Negative (limitation): This amendment contains no income statement or updated financial figures - the filing states "no financial statements have been included in this Amendment." That prevents any direct assessment of revenue, margins, net income, or cash‑flow trends from this document alone.

* Positive (governance/visibility): The company corrected its disclosure and filed appropriate certifications and exhibits. That improves transparency about insider plans and reduces regulatory risk related to prior omission.

* Neutral/Alert: Because there are no income figures here, investors should revert to the original Q1 Form 10‑Q for actual income statement metrics and trends; this amendment should be read alongside that original filing and subsequent filings.

Analyst take / near‑term watch list

* Review the original Q1 2025 Form 10‑Q (filed May 8, 2025) for the full income statement and operating metrics - this amendment does not replace those numbers.

* Monitor insider sale execution: The CFO's plan could introduce nearly 1% of outstanding shares to the market if fully executed; track filings (Forms 4) and trading volume for actual sales.

* Read Exhibit 2.1 (Membership Interest Purchase Agreement with Spansion LLC) for potential strategic or financial implications of the transaction referenced in the exhibits list.

* Maintain focus on operating performance (revenue growth, gross margin, operating cash flow) from the original Q1 results and any subsequent guidance or quarterly updates.

Bottom line: This 10‑Q/A is a targeted disclosure fix - it improves transparency about planned insider sales but does not provide any income‑statement data. Investors should consult the original Q1 filing for financials and watch subsequent Form 4 filings and the referenced Spansion agreement for material impact.