Aehr Test Systems (AEHR) CEO sells 152,824 shares, retains large stake

Rhea-AI Filing Summary

Aehr Test Systems President and CEO Gayn Erickson reported significant insider sales of Common Stock alongside a routine tax withholding. On April 10, 2026, he executed open-market sales totaling 152,824 shares at about $70.5831 per share, including both direct holdings and shares held indirectly by a trust.

On April 11, 2026, an additional 3,704 shares were disposed of at $70.4300 to satisfy tax withholding obligations upon vesting of restricted stock units and restricted shares, which the footnotes clarify does not represent a sale by the reporting person. After these transactions, Erickson holds 188,295 shares directly and 197,723 shares indirectly through a trust.

Insider Trade Summary

Net Seller: 152,824 shares ($10,786,792)

Net Sell 3 txns

Insider Erickson Gayn

Role President and CEO

Sold 152,824 shs ($10.79M)

Type	Security	Shares	Price	Value
Tax Withholding	Common Stock	3,704	$70.43	$261K
Sale	Common Stock	56,788	$70.5831	$4.01M
Sale	Common Stock	96,036	$70.5831	$6.78M

Holdings After Transaction: Common Stock — 188,295 shares (Direct); Common Stock — 197,723 shares (Indirect, By Trust)

Footnotes (1)

1. The amount reported includes shares subject to unvested restricted stock units and unvested restricted shares. Represents shares that were withheld to satisfy tax withholding obligations upon vesting of restricted stock units and restricted shares. This does not represent a sale by the Reporting Person.

Key Figures

Open-market shares sold: 152,824 shares Sale price per share: $70.5831 per share Tax-withheld shares: 3,704 shares +3 more

6 metrics

Open-market shares sold 152,824 shares Common Stock sales on April 10, 2026

Sale price per share $70.5831 per share Open-market Common Stock sales on April 10, 2026

Tax-withheld shares 3,704 shares Shares withheld for tax obligations on April 11, 2026

Tax withholding price $70.4300 per share Tax-withholding disposition on April 11, 2026

Direct holdings after transactions 188,295 shares Direct Common Stock ownership following April 11, 2026

Indirect holdings after transactions 197,723 shares Common Stock held indirectly by trust after April 10, 2026

Key Terms

restricted stock units, tax withholding obligations, open-market sale, indirect ownership, +1 more

5 terms

restricted stock units financial

"tax withholding obligations upon vesting of restricted stock units and restricted shares"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

tax withholding obligations financial

"shares that were withheld to satisfy tax withholding obligations upon vesting"

open-market sale financial

"transaction_action: open-market sale, transaction_code_description: Sale in open market"

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

indirect ownership financial

"ownership_type: indirect, nature_of_ownership: By Trust"

beneficial ownership financial

"indirect holdings reported as beneficial ownership through a trust"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

Form 4 Insider Transactions: What Each Field Means →

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^*

Erickson Gayn

(Last) (First) (Middle)

C/O AEHR TEST SYSTEMS

400 KATO TERRACE

(Street)

FREMONT CALIFORNIA 94539

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President and CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/10/2026

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

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

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

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	04/10/2026		S		56,788	D	$70.5831	191,999(1)	D
Common Stock	04/11/2026		F		3,704(2)	D	$70.43	188,295(1)	D
Common Stock	04/10/2026		S		96,036	D	$70.5831	197,723	I	By 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

Explanation of Responses:

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

2. Represents shares that were withheld to satisfy tax withholding obligations upon vesting of restricted stock units and restricted shares. This does not represent a sale by the Reporting Person.

Remarks:

	/s/Chris Siu, Attorney-in-Fact	04/14/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transactions did AEHR CEO Gayn Erickson report in this Form 4?

He reported selling 152,824 shares of Aehr Test Systems Common Stock and a separate tax-related share withholding. The sales occurred on April 10, 2026, while the tax withholding took place on April 11, 2026, tied to vesting equity awards.

How many AEHR shares did Gayn Erickson sell and at what price?

He sold a total of 152,824 Aehr Test Systems Common Stock shares in open-market transactions. These sales were reported at a transaction price per share of $70.5831, according to the Form 4 data for April 10, 2026.

What portion of Gayn Erickson’s AEHR holdings were affected by tax withholding?

A total of 3,704 Aehr Test Systems shares were withheld to cover tax obligations on vesting equity. The filing notes this withholding related to restricted stock units and restricted shares and explicitly states it does not represent a sale by the reporting person.

How many AEHR shares does Gayn Erickson hold after these transactions?

After the reported transactions, he directly holds 188,295 Aehr Test Systems Common Stock shares. In addition, he indirectly holds 197,723 shares through a trust, providing a combined picture of his remaining reported equity exposure to the company.

What type of ownership structure is disclosed for some of Gayn Erickson’s AEHR shares?

Part of his Aehr Test Systems holdings are reported as indirect ownership “By Trust.” This means a trust entity holds those shares, and the Form 4 attributes them as indirect beneficial ownership rather than direct personal shareholdings.