SkyWater (SKYT) Director Andrew D.C. LaFrence Disposes 15,732 Shares in Merger

What Happened

• Andrew D.C. LaFrence, a director of SkyWater Technology, LLC (formerly SkyWater Technology, Inc., ticker SKYT), reported two dispositions on 2026-07-31 totaling 15,732 shares (11,428 and 4,304). These were dispositions to the issuer in connection with the company’s merger, not open-market sales.
• Under the merger terms, each SkyWater share converted into $15 cash plus 0.4883 shares of IonQ, Inc. That conversion equals $235,980 in cash (15,732 × $15) and approximately 7,681.94 IonQ shares (15,732 × 0.4883). The Form 4 shows price as N/A because shares were converted as merger consideration rather than sold on the open market.

Key Details

• Transaction date: 2026-07-31 (both dispositions)
• Report filed: 2026-07-31 (filed same day as report period)
• Shares disposed: 11,428 and 4,304 (total 15,732)
• Price reported on form: N/A (disposition to issuer via merger)
• Consideration per Merger Agreement: $15 cash + 0.4883 IonQ shares per SkyWater share
• Total cash received (aggregate): $235,980; total IonQ shares received (approx): 7,682
• Shares owned after transaction: not disclosed in the filing
• Relevant footnotes:
  • F1: Disposition reflects conversion of SkyWater common stock into merger consideration per the Merger Agreement.
  • F2: Some shares derived from restricted stock units that vested/settled and were converted at the Effective Time.
• Filing timeliness: No late-filing indication; report covers the 2026-07-31 transaction and was filed the same day.

Context

• This was a merger conversion (disposition to the issuer), not an open-market sale—so it reflects the transaction mechanics of the merger (stock-for-stock and cash consideration), not necessarily the director’s trading view.
• For retail investors, merger-related dispositions are routine corporate events; they differ from voluntary insider sales that might signal sentiment.