[144] ACM Research, Inc. SEC Filing

Rhea-AI Filing Summary

Form 144 notice for ACM Research, Inc. (ACMR) reports proposed and recent sales of common stock by an insider. The filer intends to sell 15,000 shares through Morgan Stanley Smith Barney on NASDAQ with an aggregate market value of $495,000 and an approximate sale date of 09/17/2025. The same 15,000 shares are shown as acquired by stock option exercise on 09/17/2025 with payment in cash. The filing also discloses a prior sale of 15,000 common shares by Tracy Dong Liu on 07/15/2025 for $450,000 in gross proceeds. The notice includes the standard representation that the seller certifies they possess no undisclosed material adverse information and a signature attestation regarding accuracy.

Positive

• Compliance disclosure with Rule 144 requirements, including broker details and seller attestation
• Use of a registered broker-dealer (Morgan Stanley Smith Barney) for execution on NASDAQ, which supports orderly resale

Negative

• Insider liquidity event: proposed sale of 15,000 shares (aggregate market value reported as $495,000) could be viewed as insider selling
• Prior sale reported of 15,000 shares on 07/15/2025 for $450,000, indicating recent insider sales activity

Insights

Securities Analyst

TL;DR: Insider plans to sell 15,000 ACMR shares via Morgan Stanley; filing shows both a contemporaneous option exercise and a recent July sale.

This Form 144 discloses a proposed brokered sale of 15,000 common shares on NASDAQ with an indicated aggregate market value of $495,000 and an approximate sale date of 09/17/2025. The securities were acquired by stock option exercise on 09/17/2025 and paid in cash. The filing separately records a prior sale of 15,000 shares on 07/15/2025 generating $450,000 gross proceeds. For investors, such filings document compliance with Rule 144 resale procedures and provide transparency on insider liquidity events; the dual reporting of acquisition and prior sale is factual and should be reviewed alongside company disclosures for context.

Corporate Governance Expert

TL;DR: The notice is a routine Rule 144 disclosure showing insider transaction activity and required attestation about undisclosed material information.

The Form 144 contains required seller representations and indicates use of a broker-dealer (Morgan Stanley Smith Barney) for execution on NASDAQ. It documents an option exercise as the acquisition method and shows a prior separate sale by an individual named Tracy Dong Liu. The filing fulfills disclosure duties under Rule 144; there are no statements of material non-public information in the notice itself.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	15000	495000.00	64180965	09/17/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	09/17/2025	Stock Option Exercise	ISSUER			15000	09/17/2025	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
TRACY DONG LIU 42307 Osgood Road, Suite I Fremont CA 94539	Common	07/15/2025	15000	450000.00

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does ACMR Form 144 disclose about the planned sale?

The filing reports a proposed sale of 15,000 ACMR common shares through Morgan Stanley Smith Barney on NASDAQ with an aggregate market value of $495,000 and an approximate sale date of 09/17/2025.

How were the shares being sold acquired according to the filing?

The filing states the 15,000 shares were acquired by stock option exercise on 09/17/2025 and payment was made in cash.

Does the filing disclose any recent insider sales for ACMR?

Yes. The filing lists a prior sale by Tracy Dong Liu of 15,000 common shares on 07/15/2025 with $450,000 in gross proceeds.

Which broker and exchange are identified in the Form 144?

The broker is Morgan Stanley Smith Barney LLC, Executive Financial Services and the exchange identified is NASDAQ.

What certification does the seller make in the Form 144?

The seller represents by signing the notice that they do not know any material adverse information about the issuer that has not been publicly disclosed.