AEHR Test Systems (AEHR) director Laura Oliphant sells 4,546 shares

Rhea-AI Filing Summary

AEHR TEST SYSTEMS director Laura Oliphant reported multiple open-market sales of common stock. On January 22, 2026, she sold 3,100, 1,026, 180, 100, and 140 shares of AEHR common stock at prices ranging from $31.38 to $31.485 per share.

After these transactions, she beneficially owned 18,432 shares directly and 7,665 shares indirectly through a trust. The directly held amount includes shares subject to unvested restricted stock units.

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^*

OLIPHANT LAURA

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
01/22/2026

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	01/22/2026		S		3,100	D	$31.38	19,878(1)	D
Common Stock	01/22/2026		S		1,026	D	$31.44	18,852(1)	D
Common Stock	01/22/2026		S		180	D	$31.45	18,672(1)	D
Common Stock	01/22/2026		S		100	D	$31.46	18,572(1)	D
Common Stock	01/22/2026		S		140	D	$31.485	18,432(1)	D
Common Stock								7,665	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.

Remarks:

	/s/Chris Siu, Attorney-in-Fact	01/26/2026
	** 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.

FAQ

Who is the insider trading AEHR stock in this Form 4 filing?

The filing reports transactions by Laura Oliphant, a director of AEHR TEST SYSTEMS (AEHR). She is not listed as an officer or a 10% owner.

How many AEHR shares did director Laura Oliphant sell on January 22, 2026?

On January 22, 2026, she executed several sales of AEHR common stock: 3,100, 1,026, 180, 100, and 140 shares, for a total of 4,546 shares sold.

At what prices were the AEHR shares sold by Laura Oliphant?

The reported sale prices per share were $31.38, $31.44, $31.45, $31.46, and $31.485 for the respective trades on January 22, 2026.

How many AEHR shares does Laura Oliphant own after these transactions?

Following the reported sales, she beneficially owned 18,432 AEHR common shares directly and 7,665 AEHR common shares indirectly by trust.

Do Laura Oliphant’s reported AEHR holdings include restricted stock units?

Yes. A footnote states that the amount reported for her directly held AEHR common stock includes shares subject to unvested restricted stock units.

What type of ownership is reported for the additional AEHR shares held by trust?

The filing lists 7,665 AEHR common shares as indirectly owned, with the nature of ownership described as "By Trust".