Sivers Semiconductors: Boardroom Split Widens as Lock-Up Expiry Unleashes Conflicting Insider Trades
Published on 07/23/2026 at 19:22 | Redaktion boerse-global.de
The expiration of a key lock-up agreement at Sivers Semiconductors has exposed a sharp divide within the company's leadership, with the chairman and a board member heading for the exits while the chief executive doubles down on his bet in the stock. The resulting selling pressure has sent the Swedish chipmaker's shares into a tailspin, compounding losses that already stood at more than 60 percent over the past month.
A Flood of Newly Tradable Shares
The turmoil stems from a directed share issuance completed on April 16, 2026, under which management and board members agreed not to sell their stakes until July 16. Sivers formally confirmed on July 21 that the restriction had lapsed, freeing millions of shares for immediate trading.
The response from insiders was swift and divergent. Board member Todd Thomson, acting through his investment vehicle Headwaters Capital LLC, offloaded 950,000 shares by July 22 and donated an additional 50,000 to a charitable organization. Chairman Bami Bastani sold 275,000 shares on the very first day trading was permitted, and separately donated 60,000 shares to charities while transferring 70,000 to family members.
Chief Executive Vickram Vathulya moved in the opposite direction, purchasing 70,000 additional shares to bring his total holdings to 4,540,076. He also holds 3.7 million employee stock options, underscoring a conviction that contrasts starkly with the selling by his colleagues on the board.
Should investors sell immediately? Or is it worth buying Sivers Semiconductors?
Stock Rout Deepens
The influx of supply has weighed heavily on the share price. The stock was last trading at €3.01, down 7.15 percent on the day and roughly 63 percent lower over the trailing 30 sessions. That marks a staggering 71 percent decline from the 52-week high of €10.23 reached on June 3.
The 50-day moving average of €5.99 now sits nearly double the current price — a technical signal that captures just how abruptly sentiment has soured. The 14-day relative strength index stands at 36.5, approaching but not yet in classic oversold territory.
Nasdaq Ambitions Complicate the Picture
The selling pressure arrives at a delicate moment for Sivers, which is navigating an "audit uplift" to align its financial reporting with US PCAOB standards — a prerequisite for its planned dual listing on the Nasdaq in New York. The company hopes the move will unlock access to deeper pools of international institutional capital.
The additional audit work has forced a delay in the second-quarter 2026 earnings report, now scheduled for release on August 27 instead of early August. The third-quarter report is slated for November 26, followed by the fourth-quarter release on February 25, 2027.
A "closed period" under EU market abuse regulations begins on July 28, barring insiders from any further share transactions until the quarterly numbers are published. That means the market will have to digest the current oversupply of stock without any fresh signals from the executive suite for at least another month.
Sivers Semiconductors at a turning point? This analysis reveals what investors need to know now.
Capital Moves Add to Supply
July also saw other corporate actions that increased the share count. Earlier in the month, Sivers raised approximately 700 million Swedish kronor through a directed share issuance. Separately, lender Bootstrap Europe exercised a conversion right on an outstanding convertible loan on July 3, generating additional new shares.
The company's market capitalization now stands at roughly €889 million, a figure that reflects the sharp erosion in value since the June peak. With insider trading now frozen until late August and the stock already under heavy pressure, the coming weeks will test whether Vathulya's contrarian bet proves prescient — or whether the boardroom exodus was the smarter call.
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