[Form 4] SkyWater Technology, Inc Insider Trading Activity

Rhea-AI Filing Summary

SkyWater Technology CFO Steve Manko exercised options to acquire 9,708 shares of common stock at an exercise price of $10.14 per share, then sold a total of 91,109 shares of common stock in open-market transactions. The option exercise was carried out under a Rule 10b5-1 trading plan entered into on November 21, 2025. The sales included 9,708 shares at $27.84 per share and 81,401 shares at a weighted average price of $27.8398, with individual trade prices ranging from $27.54 to $28.10. Following these transactions, he directly holds 215,166 shares of SkyWater common stock.

Insights

Equity compensation analyst

CFO executes option exercise-and-sell under a 10b5-1 plan.

SkyWater Technology CFO Steve Manko exercised options for 9,708 shares of common stock at an exercise price of $10.14, then sold 91,109 shares in the open market. This is a classic exercise-and-sell pattern where derivative awards are converted into cash.

The filing notes the option exercise was effected under a Rule 10b5-1 trading plan entered into on November 21, 2025, indicating the transaction was pre-arranged rather than opportunistic. Reported sale prices ranged from $27.54 to $28.10 per share.

After these transactions, Manko directly holds 215,166 shares of common stock, so he retains a substantial equity position. The net sale of 91,109 shares is meaningful in size but appears to be structured liquidity from vested options rather than a change in role or compensation structure.

Insider Trade Summary 10b5-1

Net Seller: 91,109 shares ($2,536,458)

Net Sell 4 txns

Insider Manko Steve

Role CFO

Sold 91,109 shs ($2.54M)

Type	Security	Shares	Price	Value
Exercise	Options to Acquire Common Stock	9,708	$0.00	--
Exercise	Common Stock	9,708	$10.14	$98K
Sale	Common Stock	9,708	$27.84	$270K
Sale	Common Stock	81,401	$27.8398	$2.27M

Holdings After Transaction: Options to Acquire Common Stock — 19,416 shares (Direct); Common Stock — 306,275 shares (Direct)

Footnotes (1)

1. The reported option exercise was effected pursuant to a Rule 10b5-1 trading plan entered into by the reporting person on November 21, 2025. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $27.54 to $28.10 , 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.

Form 4 Insider Transactions: What Each Field Means →

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 MINNESOTA 55425

(City) (State) (Zip)

UNITED STATES

(Country)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/16/2026

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

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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

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	03/16/2026		M		9,708(1)	A	$10.14	306,275	D
Common Stock	03/16/2026		S		9,708(1)	D	$27.84	296,567	D
Common Stock	03/16/2026		S		81,401(2)	D	$27.8398	215,166	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	$10.14	03/16/2026		M			9,708(1)	(3)	02/15/2034	Common Stock	9,708	$0	19,416	D

Explanation of Responses:

1. The reported option exercise was effected pursuant to a Rule 10b5-1 trading plan entered into by the reporting person on November 21, 2025.

2. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $27.54 to $28.10 , 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	03/18/2026
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)