[Form 4] ACM Research, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Wang Jian, an officer and the Chief Executive Officer and President of ACM Research (Shanghai), Inc., reported option exercises and share sales in Form 4 filings. On 08/22/2025 he exercised 30,000 stock options with a $5.60 exercise price and immediately sold 30,000 Class A shares at $30.00, reducing his direct holdings to 253,158 shares. On 08/25/2025 he repeated the sequence—exercised 30,000 options at $5.60 and sold 30,000 shares at $32.00—leaving total direct holdings at 253,158 Class A shares. The Form notes the option was fully vested and the sales were made under a Rule 10b5-1 trading plan adopted May 20, 2025. The Form was signed by an attorney-in-fact on 08/26/2025.

Positive

• Transactions disclosed promptly on Form 4 with dates, prices, and quantities
• Sales executed under a Rule 10b5-1 trading plan adopted May 20, 2025, which supports compliance with insider-trading rules
• Options were fully vested at exercise, as explicitly stated

Negative

• Officer sold 60,000 Class A shares (30,000 at $30.00 and 30,000 at $32.00), which reduced direct holdings to 253,158 shares
• Form does not include contextual trading volume or rationale beyond the 10b5-1 plan, limiting assessment of market impact

Insights

Securities Analyst

TL;DR: Officer exercised vested options and sold 60,000 shares under a pre-established 10b5-1 plan.

The filing shows two paired transactions: exercise of 30,000 options and immediate sale of 30,000 shares on 08/22/2025, and a second identical pair on 08/25/2025. Exercise price was $5.60 per share; sale prices were $30.00 and $32.00, respectively. The transactions reduced direct beneficial ownership to 253,158 Class A shares. The filing discloses the plan adoption date and that the options were fully vested, which supports compliance and reduces concerns about opportunistic timing. From a market-impact perspective, 60,000 shares sold by an officer may be notable depending on average daily volume, but the filing does not provide volume context. This is a routine, properly disclosed insider liquidity event.

Corporate Governance Expert

TL;DR: Disclosure aligns with governance expectations; sales were executed under a documented 10b5-1 plan.

The Form 4 explicitly states the sales were made pursuant to a Rule 10b5-1 trading plan adopted May 20, 2025, and indicates the options were fully vested. Such disclosures are consistent with best practices for insider transactions because they clarify intent and timing. The signature by an attorney-in-fact is properly included. The filing contains the necessary details: transaction dates, quantities, prices, and resulting ownership. No governance violations or omissions are apparent from the information provided.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Wang Jian

(Last) (First) (Middle)

C/O ACM RESEARCH, INC.

42307 OSGOOD ROAD, SUITE I

(Street)

FREMONT CA 94539

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ACM Research, Inc. [ ACMR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	See remarks

3. Date of Earliest Transaction (Month/Day/Year)
08/22/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	08/22/2025		M		30,000	A	$5.6	283,158	D
Class A Common Stock	08/22/2025		S(1)		30,000	D	$30	253,158	D
Class A Common Stock	08/25/2025		M		30,000	A	$5.6	283,158	D
Class A Common Stock	08/25/2025		S(1)		30,000	D	$32	253,158	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option	$5.6	08/22/2025		M			30,000	(2)	04/22/2029	Class A Common Stock	30,000	$0	60,000	D
Stock Option	$5.6	08/25/2025		M			30,000	(2)	04/22/2029	Class A Common Stock	30,000	$0	30,000	D

Explanation of Responses:

1. The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on May 20, 2025.

2. The option is fully vested and exercisable.

Remarks:

Chief Executive Officer and President of ACM Research (Shanghai), Inc., a subsidiary of the Issuer

	/s/ Mark McKechnie, Attorney-in-Fact for Jian Wang	08/26/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transactions did Wang Jian report on ACMR Form 4?

Wang Jian reported exercising 30,000 options on 08/22/2025 and selling 30,000 shares at $30.00, then exercising 30,000 options on 08/25/2025 and selling 30,000 shares at $32.00.

Were the option exercises and sales made under a 10b5-1 plan for ACMR?

Yes. The Form states the sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on May 20, 2025.

What was the exercise price and were the options vested?

The reported option exercise price was $5.60 per share and the filing states the option is fully vested and exercisable.

How many ACMR shares does Wang Jian own after these transactions?

Following the reported transactions, Wang Jian beneficially owned 253,158 Class A shares (direct).

When was the Form 4 signed and by whom?

The Form 4 was signed on 08/26/2025 by Mark McKechnie, Attorney-in-Fact for Jian Wang.