Sivers Semiconductors: Chairman Sells, CEO Buys as Lock-Up Expiry Sparks Insider Divergence
Published on 07/25/2026 at 22:32 | Redaktion boerse-global.de
The boardroom at Sivers Semiconductors is sending mixed signals. Chairman Bami Bastani has been reducing his stake, while CEO Vickram Vathulya is adding to his — a split that leaves investors to weigh conflicting insider sentiment against a backdrop of severe share price erosion.
The stock closed at EUR 2.83 on Friday, down 6.35 percent on the day and 11.45 percent for the week. Over the past 30 days, the shares have shed more than 60 percent of their value, dragging the company’s market capitalisation to roughly EUR 1.01 billion. From a 52-week high of EUR 10.23 on June 3, the decline now stands at over 72 percent.
Lock-Up Expiry Triggers Selling Wave
The root cause of the sell-off is not a profit warning or a product failure, but the expiration of a lock-up agreement tied to a directed share placement. The board had approved a private placement of 12,280,701 new shares on April 16, raising approximately SEK 700 million at SEK 57 per share through an accelerated bookbuilding process. The offering was multiple times oversubscribed by Swedish and international institutional investors.
That lock-up expired on July 16 — and the selling began almost immediately. Bastani disposed of 275,000 shares on the same day, donated 60,000 shares to charitable organisations, and transferred 70,000 shares to family members. He now holds 381,360 shares, of which 11,360 are subject to a new one-year lock-up.
Should investors sell immediately? Or is it worth buying Sivers Semiconductors?
Board member Todd Thomson also moved aggressively. His entity Headwaters Capital sold 950,000 shares through July 22 and donated a further 50,000 shares to charity. Meanwhile, venture capital firm Kairos Ventures — which received its stake in 2022 through the sale of portfolio company Mixcomm — distributed shares to investors who wish to remain invested while liquidating the rest. Thomson remains the largest board shareholder with 477,027 shares.
CEO Bucks the Trend
Vathulya, in contrast, purchased 70,000 additional shares, bringing his total holding to 4,540,076 shares plus 3.7 million employee stock options. His move stands as a conspicuous vote of confidence at a time when the stock is under heavy pressure.
Management has stressed that the insider transactions do not reflect a loss of faith in the company’s prospects. The individuals involved continue to hold substantial personal stakes and remain committed to the long-term strategy, the company said.
Nasdaq Listing Delays Quarterly Report
Beyond the insider trading drama, Sivers is pursuing a secondary listing on the Nasdaq in New York — a strategic push to access deeper US capital markets for technology stocks. The cost is regulatory complexity.
To meet PCAOB standards, the company must subject its consolidated financial statements for 2024 and 2025 to a comprehensive audit uplift. As a result, the second-quarter 2026 report has been delayed to August 27, 2026. Sivers attributed the postponement to the additional time required for the audit and for strengthening internal controls.
Sivers Semiconductors at a turning point? This analysis reveals what investors need to know now.
Trading Window Closes
From July 28, a closed period under the EU Market Abuse Regulation takes effect. Until the quarterly numbers are released before trading opens on Nasdaq Stockholm, insiders are barred from trading the company’s securities. The window for further insider transactions has effectively shut for the next month.
With annualised 30-day volatility exceeding 160 percent, Sivers shares rank among the most turbulent on the Swedish market. Whether the enforced trading silence will stabilise the stock or merely delay the next wave of selling will become clearer when the quarterly report lands on August 27.
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