SkyWater (SKYT) Director Nancy Fares Sells 47,805 Shares in Merger

What Happened

• Nancy Fares, a director of SkyWater Technology (SKYT), had two dispositions on 2026-07-31 totaling 47,805 SkyWater shares (43,501 and 4,304). These were disposed pursuant to the company’s merger.
• Per the merger terms, each SkyWater share converted into $15.00 in cash and 0.4883 shares of IonQ, Inc.; the cash portion on 47,805 shares equals $717,075, and the stock portion equals roughly 23,343 IonQ shares (fractions paid in cash). This was a corporate transaction (merger conversion), not an open-market sale.

Key Details

• Transaction date: 2026-07-31 (both dispositions).
• Consideration: $15.00 cash per SkyWater share + 0.4883 IonQ shares per SkyWater share; per-share sale price reported as N/A because shares were converted under the merger.
• Total SkyWater shares disposed: 47,805 (43,501 + 4,304).
• Cash received (approx.): $717,075; IonQ shares received (approx.): 23,343 (fractions paid in cash).
• Footnotes: F1/F2 — dispositions reflect the merger agreement conversion; certain non-employee director restricted stock units were accelerated, settled into SkyWater shares, and then converted at closing.
• Shares owned after transaction: not specified in the filing.
• Filing timeliness: filed with the Form 4 covering the 2026-07-31 transaction date; no late filing indicated.

Context

• This was a merger-related conversion (disposition to the issuer) under the Merger Agreement—effectively an exchange of SkyWater shares for cash and IonQ stock—rather than a voluntary open-market sale. Such corporate conversions are routine in M&A and do not, by themselves, signal insider trading intent.