Shimmick corp director Goldsteen sells $16,831 in shares

Director Mitchell B. Goldsteen of Shimmick Corp (NASDAQ:SHIM) recently sold 8,958 shares of common stock, generating $16,831. The timing of these sales coincides with SHIM’s stock decline of over 11% in the past week, with shares currently trading at $1.84.

The sales occurred in three separate transactions between July 28 and July 30, 2025. On July 28, 1,000 shares were sold at a weighted average price of $2.07, in a price range of $2.06 to $2.09. On July 29, 3,958 shares were sold at a weighted average price of $1.87, in a price range of $1.85 to $1.95. On July 30, 4,000 shares were sold at a weighted average price of $1.84, in a price range of $1.81 to $1.85.

The shares are indirectly owned through GOHO, LLC, where Mr. Goldsteen is the sole managing member. These sales were executed under a pre-arranged Rule 10b5-1 sales plan adopted on August 20, 2024. Following these transactions, Goldsteen still indirectly owns 21,247,925 shares through GOHO, LLC.

In other recent news, Shimmick Corporation reported its Q1 2025 earnings, missing both earnings per share (EPS) and revenue forecasts. The company posted an EPS of -$0.22, which was below the expected $0.11, and revenue of $122 million, falling short of the forecasted $176.8 million. In a strategic move, Shimmick announced the formation of Axia Electric LLC, a new subsidiary aimed at providing electrical and power distribution solutions across various infrastructure markets. This subsidiary will target sectors including water, industrial, and energy, focusing on low- and medium-voltage markets.

Additionally, Shimmick secured a $51 million contract for the Bellota Weir Modifications project in Stockton, California, awarded by the Stockton East Water District. The project involves significant infrastructure enhancements, including the construction of a new inflatable weir and a gravity flow conveyance system. At the company’s 2025 Annual Meeting of Stockholders, six directors were elected to the board, with each receiving substantial support from shareholders. These developments reflect ongoing efforts by Shimmick to expand its market presence and enhance its infrastructure solutions portfolio.

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