SkyWater Technology Inc (NASDAQ:SKYT) Chief Financial Officer Steve Manko completed the sale of 91,109 shares of common stock on March 16, 2026, generating approximately $2.5 million in gross proceeds. The dispositions were executed across multiple trades at prices spanning $27.54 to $28.10 per share.
In conjunction with the sales, Manko exercised stock options to acquire 9,708 shares of SkyWater common stock at an exercise price of $10.14, for a total exercise value of $98,439. After accounting for both the sales and the option exercise, Manko's direct ownership in SkyWater stands at 215,166 shares.
The timing of Manko's transactions follows a significant run-up in SkyWater's share price. Over the past 12 months the stock has returned 237%, and InvestingPro analysis cited in company reporting indicates the shares may be trading at valuations that appear elevated relative to certain metrics.
Separately, IonQ has announced its intention to acquire SkyWater Technology in a transaction valued at approximately $1.8 billion. Under the terms disclosed, SkyWater shareholders would receive $35.00 per share, comprising $15.00 in cash plus $20.00 in IonQ common stock. That package represents a 38% premium to SkyWater's 30-day volume-weighted average price as of January 23.
Following the proposed combination, SkyWater is expected to remain a distinct subsidiary within IonQ's corporate structure. The acquisition agreement includes a collar mechanism designed to provide stability to the stock component of the consideration.
The transaction and the surrounding developments have already influenced sell-side coverage. TD Cowen adjusted its rating on SkyWater, moving the stock from Buy to Hold while increasing its price target from $24.00 to $35.00.
The filings and disclosures show the specific mechanics of the CFO's moves - option exercises at a substantially lower strike than market prices, coupled with multi-price sales on a single trading day - and place them alongside corporate-level M&A news that reshapes shareholder outcomes. For investors seeking further detail on insider activity and related analysis, SkyWater's Pro Research Report is noted as available through InvestingPro.
All figures and terms cited reflect the company disclosures and reporting available around these transactions and the announced transaction with IonQ.