ACMR CEO reports 545,400 options vested at $7.36; threshold met

ACM Research (ACMR) Form 4: CEO, President and Director David H. Wang reported vesting and acquisition of 545,400 stock options at an exercise price of $7.36 on October 27, 2025, from a 2020 performance grant.

Rhea-AI Filing Summary

ACM Research (ACMR) Form 4: CEO, President and Director David H. Wang reported vesting and acquisition of 545,400 stock options at an exercise price of $7.36 on October 27, 2025, from a 2020 performance grant. These options are now exercisable and expire on March 19, 2030.

The vesting occurred after the company’s market capitalization reached $2,553,383,586 under the grant’s formula; remaining tranches vest if market cap reaches $3,553,383,586. Indirect beneficial holdings disclosed include 620,001 shares (Wang‑Chen Family Living Trust), 180,000 (Family Irrevocable Trust for Wang Children), 100,002 (spouse), and 45,837 (daughter).

Insider Trade Summary

Grant/Award: 545,400 shares

Grant/Award 5 txns

Insider Wang David H

Role See Remarks

Type	Security	Shares	Price	Value
Grant/Award	Stock Option	545,400	$0.00	$0.00
holding	Class A Common Stock	--	--	--
holding	Class A Common Stock	--	--	--
holding	Class A Common Stock	--	--	--
holding	Class A Common Stock	--	--	--

Holdings After Transaction: Stock Option — 545,400 contracts (Direct); Class A Common Stock — 100,002 shares (Indirect, By Jing Chen, wife of David H. Wang); Class A Common Stock — 45,837 shares (Indirect, By Sophia Wang, daughter of David H. Wang); Class A Common Stock — 180,000 shares (Indirect, By David Hui Wang and Jing Chen Family Irrevocable Trust for Wang Children); Class A Common Stock — 620,001 shares (Indirect, By Wang-Chen Family Living Trust)

Footnotes (2)

1. F1. On March 20, 2020, the reporting person was granted options to purchase an aggregate of 1,636,197 shares of the Issuer's Class A common stock, based on the satisfaction of certain performance criteria. In general, one-third of the shares subject to the options vest and become exercisable upon an increase in the Issuer's market capitalization (calculated as described in footnote 2) of $1 billion, $2 billion and $3 billion, respectively, from the market capitalization of $553,383,586 on the date of grant. 545,400 shares vested and became exercisable on October 27, 2025, which was the first trading day as of which the Issuer's market capitalization equaled or exceeded $2,553,383,586. The remaining shares will vest and become exercise upon the first trading days, if any, on which the Issuer's market capitalization equals or exceeds $3,553,383,586.
2. F2. For purposes of the options, the market capitalization as of a specified trading day is calculated by multiplying (a) the average of the daily volume-weighted average price per share of the Issuer's Class A common stock for each of the trading days occurring during the thirty calendar day period ending on that specified trading day by (b) the total number of issued and outstanding shares of the Issuer's Class A and Class B common stock as of 11:59 p.m. (Eastern time) on such specified trading day.

FAQ

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What did ACMR disclose on this Form 4?

David H. Wang reported the vesting and acquisition of 545,400 stock options at an exercise price of $7.36 on October 27, 2025.

What triggered the 545,400 options to vest for ACMR’s CEO?

Vesting occurred when market capitalization reached $2,553,383,586, as defined in the grant’s calculation method.

When do these ACMR options expire?

The options expire on March 19, 2030.

What remains to vest under the 2020 performance grant?

Remaining shares vest upon the first trading day the market capitalization equals or exceeds $3,553,383,586.

What indirect ACMR share holdings were reported?

Reported indirect holdings: 620,001 (Wang‑Chen Family Living Trust), 180,000 (Family Irrevocable Trust for Wang Children), 100,002 (spouse), 45,837 (daughter).

What is the origin of the ACMR option grant?

The options stem from a March 20, 2020 performance grant tied to market capitalization milestones.

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Accepted by SEC EDGAR 10/29/2025 - 09:30 PM Learn about SEC filing dates

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).

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 David H

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
10/27/2025

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								100,002	I	By Jing Chen, wife of David H. Wang
Class A Common Stock								45,837	I	By Sophia Wang, daughter of David H. Wang
Class A Common Stock								180,000	I	By David Hui Wang and Jing Chen Family Irrevocable Trust for Wang Children
Class A Common Stock								620,001	I	By Wang-Chen Family Living Trust

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	$7.36	10/27/2025		A		545,400		(1)(2)	03/19/2030	Class A Common Stock	545,400	$0	545,400	D

Explanation of Responses:

1. On March 20, 2020, the reporting person was granted options to purchase an aggregate of 1,636,197 shares of the Issuer's Class A common stock, based on the satisfaction of certain performance criteria. In general, one-third of the shares subject to the options vest and become exercisable upon an increase in the Issuer's market capitalization (calculated as described in footnote 2) of $1 billion, $2 billion and $3 billion, respectively, from the market capitalization of $553,383,586 on the date of grant. 545,400 shares vested and became exercisable on October 27, 2025, which was the first trading day as of which the Issuer's market capitalization equaled or exceeded $2,553,383,586. The remaining shares will vest and become exercise upon the first trading days, if any, on which the Issuer's market capitalization equals or exceeds $3,553,383,586.

2. For purposes of the options, the market capitalization as of a specified trading day is calculated by multiplying (a) the average of the daily volume-weighted average price per share of the Issuer's Class A common stock for each of the trading days occurring during the thirty calendar day period ending on that specified trading day by (b) the total number of issued and outstanding shares of the Issuer's Class A and Class B common stock as of 11:59 p.m. (Eastern time) on such specified trading day.

Remarks:

Chief Executive Officer, President and Director

	/s/ Mark McKechnie, Attorney-in-Fact for David H. Wang	10/29/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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