SkyWater (SKYT) Director Timothy E. Baxter Sells 17,166 Shares

What Happened
Timothy E. Baxter, a director of SkyWater Technology, LLC (SKYT), recorded dispositions totaling 17,166 SkyWater shares on July 31, 2026 (11,428 and 5,738 shares). These were not open-market sales but dispositions to the issuer pursuant to SkyWater’s merger. Under the merger terms each SkyWater share converted into $15 in cash plus 0.4883 shares of IonQ, Inc.; the cash component for 17,166 shares equals $257,490 (ionQ share value not specified in the filing).

Key Details

• Transaction date: 2026-07-31 (reported on Form 4 filed 2026-07-31).
• Consideration: $15.00 cash per SkyWater share + 0.4883 IonQ shares per SkyWater share (cash paid for fractional IonQ shares). The Form 4 lists price as N/A because shares were converted in the merger.
• Shares disposed: 11,428 and 5,738 (total 17,166). Cash received (cash component): $257,490.
• Footnotes: F1 explains disposition pursuant to the Agreement and Plan of Merger (conversion mechanics). F2 notes certain restricted stock units held by non-employee directors were fully vested and settled into SkyWater shares before conversion.
• Shares owned after transaction: not specified in the filing.
• Timeliness: Filing appears timely (reporting period and filing date 2026-07-31).

Context
These dispositions reflect a corporate merger exchange (SkyWater merged into SkyWater Technology, LLC and SkyWater common stock converted per the Merger Agreement). Dispositions "to the issuer" in this context are routine merger conversions (holders receive cash and acquirer stock) and differ from discretionary open-market sales. The economic value includes both the $15 cash per share and the issued IonQ shares; the total market value depends on IonQ's share price at conversion.