SkyWater (SKYT) CFO Steve Manko Sells 154,325 Shares in Merger

What Happened
Steve Manko, Chief Financial Officer of SkyWater Technology, disposed of a total of 154,325 SkyWater shares on 2026-07-31 as part of the company’s merger into SkyWater Technology, LLC (the IonQ transaction). Under the merger terms, each SkyWater share converted into $15.00 in cash plus 0.4883 shares of IonQ common stock. The disposal represents an aggregate cash consideration of $2,314,875 and the receipt of approximately 75,357 IonQ shares (154,325 × 0.4883). Several of the reported items were derivative awards (restricted stock units and options) converted under the merger rather than open‑market sales.

Key Details

• Transaction date: 2026-07-31 (effective time of merger)
• Consideration per SkyWater share: $15.00 cash + 0.4883 IonQ shares
• Total SkyWater shares disposed: 154,325 (cash = $2,314,875; ~75,357 IonQ shares)
• Breakdown: 96,567 shares of former SkyWater common stock and 57,758 shares-equivalents from converted RSUs/options (derivative items)
• Footnotes: F1–F3 describe merger conversion mechanics for common shares, RSUs, and options; F4 notes prior vesting schedule for options
• Shares owned after transaction: not disclosed in this filing
• Filing timeliness: no late-filing flag indicated

Context
This filing reports dispositions that occurred because SkyWater was merged and its equity converted per the merger agreement — not individual open‑market sales. Derivative awards (RSUs and options) were converted into equivalent IonQ awards or adjusted options under the merger terms. Such merger-related conversions are routine corporate actions and should not be interpreted as an independent signal of the insider’s market view.