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

Rhea-AI Filing Summary

Tracy Liu, a director of ACM Research, Inc. (ACMR), reported acquiring derivative securities on 08/12/2025. The Form 4 shows an option (exercise price $24.93) to acquire 20,000 shares of Class A common stock, recorded as an acquisition on 08/12/2025 and resulting in beneficial ownership of 20,000 shares. The option "will vest and become exercisable immediately prior to the 2026 annual meeting of stockholders," subject to continued service through the vesting date. The filing was submitted by one reporting person and signed on behalf of Ms. Liu by attorney-in-fact Mark McKechnie on 08/14/2025.

Positive

• Director reported acquisition of 20,000 Class A shares via option exercise, indicating alignment of director interests with shareholders
• Vesting tied to 2026 annual meeting supports retention and continued service incentives

Negative

• None.

Insights

Financial Analyst

TL;DR: Director exercised an option for 20,000 shares at $24.93, signaling management alignment but not a material balance-sheet event.

The reported transaction is an option-based acquisition of 20,000 Class A shares at an exercise price of $24.93 with vesting tied to the 2026 annual meeting. This is a routine insider equity event that increases Ms. Liu's direct ownership by 20,000 shares once vested/exercised. The transaction does not disclose cash proceeds or immediate dilution beyond the issued shares; it primarily indicates continued executive/director alignment with shareholder interests rather than a material corporate development.

Corporate Governance Expert

TL;DR: Vesting tied to service through the 2026 meeting aligns director incentives with longer-term shareholder engagement.

The option's vesting condition—becoming exercisable immediately prior to the 2026 annual meeting subject to continued service—ties the award to tenure continuity and shareholder voting cycles. This structure is typical for retention and alignment purposes. The Form 4 shows proper disclosure and attorney-in-fact signature, meeting filing requirements; there are no disclosures of unusual transfer or related-party arrangements in the submission.

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).

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^*

Liu Tracy

(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		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/12/2025

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

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	$24.93	08/12/2025		A		20,000		(1)	08/11/2035	Class A Common Stock	20,000	$0	20,000	D

Explanation of Responses:

1. The option will vest and become exercisable immediately prior to the 2026 annual meeting of stockholders of the issuer, subject to continued service through the vesting date.

	/s/ Mark McKechnie, Attorney-in-Fact for Tracy Liu	08/14/2025
	** 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 did ACMR director Tracy Liu report on Form 4?

The Form 4 reports acquisition of an option to acquire 20,000 shares of Class A common stock with an exercise price of $24.93, recorded on 08/12/2025.

When does the reported option vest for Tracy Liu at ACMR?

The option "will vest and become exercisable immediately prior to the 2026 annual meeting of stockholders," subject to continued service through the vesting date.

Who filed the Form 4 for Tracy Liu (ACMR)?

The Form 4 was filed for one reporting person and was signed by Mark McKechnie, Attorney-in-Fact, on 08/14/2025.

What was the transaction date and price on the ACMR Form 4?

The transaction date is 08/12/2025 and the option exercise price is listed as $24.93.

How many ACMR shares will Tracy Liu beneficially own after the reported transaction?

The Form 4 reports beneficial ownership of 20,000 shares following the reported transaction.