[Form 4] AEHR TEST SYSTEMS Insider Trading Activity

Rhea-AI Filing Summary

Engineer Adil, Chief Operating Officer of AEHR TEST SYSTEMS (AEHR), reported a purchase of 730 shares of the company's common stock on 10/01/2025 at a price of $6.6725 per share. The shares were acquired through the company's Amended and Restated 2006 Employee Stock Purchase Plan, a tax-conditioned plan under Internal Revenue Code Section 423, and this purchase is exempt from six-month short-swing liability under Section 16. Following the transaction, the reporting person beneficially owns 47,747 shares, an amount that includes shares subject to unvested restricted stock units.

Positive

• Insider participation in the company's ESPP, evidenced by the purchase of 730 shares, signals executive engagement with equity compensation
• Exemption under IRC Section 423 was explicitly stated, clarifying that the purchase is not subject to six-month short-swing liability

Negative

• None.

Insights

Securities Analyst

TL;DR: Insider purchase via ESPP of 730 shares at $6.6725 is a routine, non-material disclosure for investors.

The Form 4 shows a single, small non-derivative acquisition by AEHR's Chief Operating Officer through the company's IRC Section 423 employee purchase plan. The transaction is reported as exempt from six-month short-swing liability and increases the insider's total beneficial ownership to 47,747 shares, inclusive of unvested restricted stock units. The filing is straightforward with no indications of derivative activity, dispositions, or changes to control.

Corporate Governance Expert

TL;DR: Disclosure is complete and compliant; purchase executed under an approved ESPP and properly reported.

The Form 4 identifies the reporting person, their title as Chief Operating Officer, the transaction date, and the explicit exemption under IRC Section 423 for ESPP purchases, which aligns with standard governance and reporting practices. The form was filed by one reporting person and signed via attorney-in-fact. No governance concerns or material changes to insider holdings beyond the reported purchase are evident in the document.

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

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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^*

ENGINEER ADIL

(Last) (First) (Middle)

C/O AEHR TEST SYSTEMS

400 KATO TERRACE

(Street)

FREMONT CA 94539

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
AEHR TEST SYSTEMS [ AEHR ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Operating Officer

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2025

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
Common Stock	10/01/2025		J		730(1)	A	$6.6725	47,747(2)	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

Explanation of Responses:

1. These shares have been purchased through the Company's Amended and Restated 2006 Employee Stock Purchase Plan, a "tax-conditioned plan" per Internal Revenue Code Section 423. This purchase is exempt from Section 16 of the Securities Exchange Act of 1934 regarding liabilities arising from six-month short-swing transactions in the Company's securities.

2. The amount reported includes shares subject to unvested restricted stock units.

Remarks:

	/s/Chris Siu, Attorney-in-Fact	10/01/2025
	** 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).
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