SkyWater (SKYT) Director Edward Daly Disposes Shares in Merger

What Happened
Edward Daly, a SkyWater Technology director, had two dispositions on 2026-07-31 totaling 39,183 SkyWater shares (34,879 + 4,304). These shares were not sold on the open market but were converted/settled as part of SkyWater’s merger: each SkyWater share converted into $15 in cash plus 0.4883 shares of IonQ. The cash component totals $587,745; the stock component equals approximately 19,133 IonQ shares (39,183 × 0.4883).

Key Details

• Transaction date: 2026-07-31 (reported same day)
• Disposition amounts: 34,879 shares and 4,304 shares (total 39,183)
• Consideration per share: $15 cash + 0.4883 IonQ common shares (conversion per merger agreement); no open‑market price reported (N/A)
• Cash proceeds (approx.): $587,745; IonQ shares received (approx.): 19,133
• Footnotes: F1 = conversion of SkyWater common stock under the merger; F2 = restricted stock units (RSUs) vested/settled into shares and then converted under the merger
• Shares owned after transaction: not specified in the provided filing excerpt
• Timeliness: Form filed with a report period and filing date of 2026-07-31 (no late‑filing flag shown)

Context
This was a corporate merger conversion (SkyWater merged into SkyWater Technology, LLC as the surviving entity per the Merger Agreement), not a typical insider open‑market sale. The RSU-related holdings for non‑employee directors automatically vested and settled prior to conversion, per the merger terms. Such merger-driven dispositions reflect deal consideration rather than a trading decision by the insider.