AEHR Test Systems (AEHR) director sells 4,665 shares, holds 18,432

Rhea-AI Filing Summary

AEHR Test Systems director Laura Oliphant reported an indirect sale of 4,665 shares of Common Stock at an average price of $85.5879 per share. The shares were held by a trust, and this transaction reduced that indirect position to zero shares. After the sale, she continues to hold 18,432 shares directly, which include shares subject to unvested restricted stock units.

Insights

Insider trading and governance analyst

Director sells 4,665 indirectly held AEHR shares, retains 18,432 directly.

Director Laura Oliphant executed an open-market sale of 4,665 AEHR Test Systems common shares at $85.5879 per share. The sold shares were held indirectly through a trust, and that trust position now holds zero shares.

Following this transaction, Oliphant still directly owns 18,432 shares, which the disclosure notes include unvested restricted stock units. With no derivative positions listed and a remaining direct stake, this looks like a routine portfolio adjustment rather than a transformational change.

Insider Trade Summary

Net Seller: 4,665 shares ($399,268)

Net Sell 2 txns

Insider OLIPHANT LAURA

Role Director

Sold 4,665 shs ($399K)

Type	Security	Shares	Price	Value
Sale	Common Stock	4,665	$85.5879	$399K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 0 shares (Indirect, By Trust); Common Stock — 18,432 shares (Direct)

Footnotes (1)

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Key Figures

Shares sold: 4,665 shares Average sale price: $85.5879 per share Direct holdings after transaction: 18,432 shares +2 more

5 metrics

Shares sold 4,665 shares Indirect open-market sale on 2026-04-16

Average sale price $85.5879 per share Open-market sale of common stock

Direct holdings after transaction 18,432 shares Includes shares subject to unvested restricted stock units

Indirect holdings after sale 0 shares Trust position following 4,665-share sale

Net shares sold 4,665 shares Net-sell direction in transaction summary

Key Terms

open-market sale, restricted stock units, indirect ownership, Form 4

4 terms

open-market sale financial

"transaction_action": "open-market sale""

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.

restricted stock units financial

"amount reported includes shares subject to unvested restricted stock units"

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.

indirect ownership financial

"direct_or_indirect": "I","nature_of_ownership": "By Trust""

Form 4 regulatory

"INSIDER FILING DATA (Form 4)"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

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^*

OLIPHANT LAURA

(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
	Officer (give title below)		Other (specify below)
	Director

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/16/2026

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	04/16/2026		S		4,665	D	$85.5879	0	I	By Trust
Common Stock								18,432(1)	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. The amount reported includes shares subject to unvested restricted stock units.

Remarks:

	/s/Chris Siu, Attorney-in-Fact	04/16/2026
	** 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 transaction did AEHR director Laura Oliphant report?

Laura Oliphant reported an open-market sale of 4,665 AEHR Test Systems common shares at an average price of $85.5879 per share. The sold shares were held indirectly through a trust, which now holds no shares after this transaction.

How many AEHR shares does Laura Oliphant still own after this Form 4?

After the reported sale, Laura Oliphant directly owns 18,432 AEHR Test Systems common shares. The filing notes that this direct position includes shares subject to unvested restricted stock units, indicating ongoing equity-based compensation exposure to the company.

Was the AEHR insider sale by Laura Oliphant direct or indirect ownership?

The 4,665 AEHR shares sold by Laura Oliphant were held indirectly through a trust, as indicated by the ownership code "I" and description "By Trust." Her remaining 18,432 shares are reported as directly held, with no indirect holdings shown after the sale.

What was the average sale price in Laura Oliphant’s AEHR stock transaction?

The reported average sale price for Laura Oliphant’s AEHR Test Systems transaction was $85.5879 per common share. This price reflects the open-market sale of 4,665 indirectly held shares, as disclosed in the Form 4 insider trading report.

Does Laura Oliphant still have unvested equity in AEHR Test Systems after the sale?

Yes. The filing notes that her 18,432 directly held AEHR Test Systems shares include shares subject to unvested restricted stock units. This indicates she continues to hold equity that vests over time as part of her director compensation.