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Mitchell B. Goldsteen, a director and ten percent owner of Shimmick Corp (NASDAQ:SHIM), sold a total of 25,426 shares of common stock in three separate transactions, realizing approximately $50,997. The sales come as the company’s stock shows a strong 11.3% return over the past week, despite an overall weak financial health score according to InvestingPro analysis.
According to a Form 4 filing with the Securities and Exchange Commission, the sales occurred between August 11 and August 13, 2025.
On August 11, Goldsteen sold 15,310 shares at prices ranging from $1.90 to $2.02. On August 12, he sold 2,116 shares at prices ranging from $1.94 to $2.01. On August 13, he sold 8,000 shares at prices ranging from $1.94 to $2.17.
The shares are indirectly owned through GOHO, LLC, of which Mr. Goldsteen is the sole managing member. The sales were executed under a Rule 10b5-1 sales plan adopted on August 20, 2024. Following these transactions, Goldsteen indirectly owns 21,171,413 shares of Shimmick Corp through GOHO, LLC.
In other recent news, Shimmick Corporation announced that it has been selected as the preferred bidder for four infrastructure contracts totaling approximately $156 million. These projects, expected to begin in the third quarter, include $47 million in electrical work and focus on improvements across California’s water, wastewater, and power infrastructure. Additionally, Shimmick secured a $51 million contract from the Stockton East Water District for the Bellota Weir Modifications project in Stockton, California. This project involves significant infrastructure work, including the construction of a new inflatable gate weir and a fish ladder.
In another development, Shimmick launched Axia Electric LLC, a new subsidiary aimed at expanding its electrical and power distribution solutions. This subsidiary will focus on low- and medium-voltage markets, serving sectors such as water, industrial, and transportation. Meanwhile, Shimmick held its 2025 Annual Meeting of Stockholders, where six directors were elected to the board with substantial support. These recent developments highlight Shimmick’s strategic initiatives in infrastructure and corporate governance.
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