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

Rhea-AI Filing Summary

The reporting person, Jian Wang, exercised a fully vested stock option to acquire 30,000 shares of ACM Research Class A common stock at an exercise price of $5.60 per share and concurrently sold 30,000 shares under a Rule 10b5-1 trading plan at $35.00 per share. Following these transactions, the report shows beneficial ownership of 253,158 shares, down from 283,158 shares before the transactions.

The filing states the option was previously issued and fully exercisable and that the sales were effected pursuant to a 10b5-1 plan adopted on May 20, 2025. The form identifies the reporting person as an officer and notes an officer/subsidiary leadership role in ACM Research (Shanghai), Inc.

Positive

• Option fully vested, enabling lawful exercise of compensation-derived shares
• Sale executed under a Rule 10b5-1 plan, indicating pre-planned trading rather than ad hoc insider disposition
• Realized spread: exercise at $5.60 and sale at $35.00, crystallizing value from prior compensation

Negative

• Beneficial ownership decreased by 30,000 shares, from 283,158 to 253,158
• Insider liquidity through sale may be interpreted by some market participants as partial de-risking of personal position

Insights

Financial Analyst

TL;DR: Insider exercised options at $5.60 then sold the acquired shares at $35, reducing holdings by 30,000 shares.

The transaction reflects monetization of long-dated, vested compensation: a 30,000-share option exercise at a $5.60 strike followed by an immediate sale at $35.00. Economically, the reporting person realized a significant per-share spread between exercise price and sale price, crystallizing pre-existing compensation value rather than signaling a new judgment on company fundamentals. The net beneficial ownership declined by 30,000 shares, from 283,158 to 253,158. For investors, this is routine insider liquidity from vested options under a pre-established 10b5-1 plan rather than an ad hoc sale.

Corporate Governance Expert

TL;DR: Transactions were executed under a documented 10b5-1 plan and involve vested options—consistent with standard insider governance practices.

The filing discloses that the sale was effected pursuant to a Rule 10b5-1 trading plan adopted on May 20, 2025, which provides pre-planned execution timing and can reduce concerns about opportunistic trading. The option was fully vested and exercisable when exercised. The disclosure includes the reporting persons officer role and a subsidiary leadership remark, clarifying their relation to the issuer. Documentation appears consistent with procedural compliance for insider transactions.

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

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)
09/18/2025

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	09/18/2025		M(1)		30,000	A	$5.6	283,158	D
Class A Common Stock	09/18/2025		S(2)		30,000	D	$35	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	09/18/2025		M(1)			30,000	(3)	04/22/2029	Class A Common Stock	30,000	$0	0	D

Explanation of Responses:

1. On September 18, 2025, the reporting person exercised a previously issued stock option to purchase 30,000 shares of Class A Common Stock of the Issuer.

2. 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.

3. 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	09/19/2025
	** 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.
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FAQ

What transactions did Jian Wang report for ACMR?

The report shows an exercise of 30,000 options at $5.60 per share and a sale of 30,000 Class A shares at $35.00 per share.

How did these transactions change Jian Wang's holdings in ACMR?

Beneficial ownership decreased from 283,158 shares to 253,158 shares following the transactions.

Were the sales pre-planned or discretionary?

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

Was the option exercised fully vested and exercisable?

Yes. The filing states the option was fully vested and exercisable at the time of exercise.

What was the economic outcome per share for the exercise and sale?

The option exercise price was $5.60 and the sale price was $35.00, yielding a per-share spread of $29.40 before taxes and fees.