[Form 4] Aehr Test Systems Insider Trading Activity

Rhea-AI Filing Summary

AEHR Test Systems (AEHR) Form 4: Chris Siu, the company's Chief Financial Officer, reported transactions on 09/02/2025 related to restricted stock units (RSUs). The filing shows 349 shares were withheld to satisfy tax withholding obligations upon RSU vesting; the filing explicitly states this withholding does not represent a sale by the reporting person. After the transaction, Mr. Siu beneficially owns 76,229 shares directly (the total includes shares subject to unvested RSUs) and an additional 4,202 shares held indirectly through a trust. The form is a routine Section 16 disclosure of an insider equity change tied to compensation vesting rather than an open-market trade.

Positive

• Reporting person retains material direct ownership of 76,229 shares, indicating continued alignment with shareholders.
• Filing clearly states the 349-share withholding was for tax obligations upon RSU vesting and did not represent a sale.

Negative

• A small number of shares (349 shares) were withheld, reducing immediate share count; consideration may be needed for tax reporting reconciliation.

Insights

Financial Analyst

TL;DR: A routine RSU tax-withholding reduced share count by 349; insider retains material stake of 76,229 shares plus 4,202 in a trust.

The transaction recorded is a non-market tax withholding event upon RSU vesting, explicitly not a sale, so it does not indicate disposition-driven liquidity needs or market signaling by the CFO. The remaining direct beneficial ownership of 76,229 shares, which includes unvested RSUs, maintains the CFO's equity alignment with shareholders. The withheld amount (349 shares at $24.88) is de minimis relative to the reported holding, suggesting no notable change to governance influence or voting power.

Corporate Governance Expert

TL;DR: Filing documents standard insider withholding for taxes on vested RSUs; disclosure is appropriate and routine under Section 16.

The Form 4 properly discloses the withholding and clarifies it is not an open-market sale, meeting disclosure norms. The split of direct and indirect ownership (direct 76,229; indirect 4,202 via trust) is clearly stated, and the filing includes an explanation of amounts that are unvested. No governance red flags or unexpected departures are evident from the filing content alone.

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^*

Siu Chris

(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)
	CFO

3. Date of Earliest Transaction (Month/Day/Year)
09/02/2025

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	09/02/2025		F		349(1)	D	$24.88	76,229(2)	D
Common Stock								4,202	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. Represents shares that were withheld to satisfy tax withholding obligations upon vesting of restricted stock units. This does not represent a sale by the Reporting Person.

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

Remarks:

	/s/SIU CHRIS	09/02/2025
	** 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 AEHR insider Chris Siu report on Form 4 dated 09/02/2025?

The Form 4 reports that 349 shares were withheld to satisfy tax withholding upon RSU vesting and that Mr. Siu now beneficially owns 76,229 shares directly and 4,202 shares indirectly via a trust.

Was the 349-share transaction a market sale by AEHR CFO Chris Siu?

No. The filing explicitly states the 349 shares were withheld for tax withholding upon vesting and do not represent a sale by the reporting person.

How is Chris Siu's ownership split according to the filing?

The filing discloses 76,229 shares beneficially owned directly (including shares subject to unvested RSUs) and 4,202 shares indirectly owned through a trust.

What price is shown for the withheld shares and why is that included?

The form lists a price of $24.88 associated with the 349-share withholding; this reflects the withholding calculation tied to the RSU vesting event as reported.