Amtech (ASYS) Insider Exercised Options; Large Kokino Indirect Stake Disclosed

Rhea-AI Filing Summary

Robert M. Averick, a director and 10% owner related to Kokino Family clients, reported multiple transactions in Amtech Systems Inc. (ASYS). The filing shows Mr. Averick (indirectly) is associated with 2,250,000 shares held by Kokino Family Clients, plus 500 shares in a custodial account and 11,000 shares held by his spouse. On 09/02/2025 he exercised four director options (each reported with code "M") to acquire 6,000 shares apiece at exercise prices of $5.40, $5.75, $4.77, and $4.90, increasing reported underlying positions. He also reports 8,081 restricted stock units and a total of 36,000, 30,000, 24,000 and 18,000 option-related holdings per option series.

Positive

• Exercises fully disclosed: Four director option exercises on 09/02/2025 with prices and amounts provided
• Large indirect stake disclosed: Kokino Family Clients reported to beneficially own 2,250,000 shares, improving transparency

Negative

• None.

Insights

Securities Analyst

TL;DR Insider exercised multiple director options on 09/02/2025, increasing his share exposure while significant holdings remain indirectly held via Kokino clients.

The Form 4 documents exercises of four director stock options on 09/02/2025 (reported with transaction code M) at exercise prices between $4.77 and $5.75 for 6,000 shares each, which increases Mr. Averick's direct/derivative exposure to ASYS equity. Material indirect holdings include 2,250,000 shares held by Kokino Family Clients, disclosed under a Schedule 13D. The filing is routine for insiders exercising options but noteworthy given the sizable indirect stake via investment vehicles managed by Kokino.

Corporate Governance Expert

TL;DR Disclosure aligns with Section 16 reporting; exercises and wide-ranging indirect ownership are properly explained.

The filing clearly discloses the reporting person’s relationship to multiple investment entities and family accounts, and lists restricted stock units and option totals. It explains the indirect ownership through Piton and Kokino structures and potential linkage to incentive allocations. From a governance and compliance perspective the Form 4 appears complete and descriptive, showing both direct derivative activity and substantial indirect holdings that investors can trace to the Schedule 13D.

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^*

Averick Robert M

(Last) (First) (Middle)

C/O KOKINO LLC

201 TRESSER BOULEVARD, 3RD FLOOR

(Street)

STAMFORD CT 06901

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
AMTECH SYSTEMS INC [ ASYS ]

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

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

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								2,250,000(1)(2)	I(1)(2)	See footnote 2 below
Common Stock								500(3)	I(3)	See footnote 3 below
Common Stock								11,000(4)	I(4)	See footnote 4 below
Common Stock	09/02/2025		M		6,000	A	$5.4	681,260	D
Common Stock	09/02/2025		M		6,000	A	$5.75	687,260	D
Common Stock	09/02/2025		M		6,000	A	$4.77	693,260	D
Common Stock	09/02/2025		M		6,000	A	$4.9	699,260	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
Restricted Stock Units	(5)							(5)	(5)	Common Stock	8,081		8,081(5)	D
Director Stock Option (Right to Buy)	$5.4	09/02/2025		M			6,000	01/15/2016	01/15/2026	Common Stock	6,000	$0	36,000	D
Director Stock Option (Right to Buy)	$5.75	09/02/2025		M			6,000	03/17/2017	03/17/2027	Common Stock	6,000	$0	30,000	D
Director Stock Option (Right to Buy)	$4.77	09/02/2025		M			6,000	03/06/2019	03/06/2029	Common Stock	6,000	$0	24,000	D
Director Stock Option (Right to Buy)	$4.9	09/02/2025		M			6,000	03/04/2020	03/04/2030	Common Stock	6,000	$0	18,000(6)	D

Explanation of Responses:

1. Pursuant to a Schedule 13D filed on January 25, 2016, as amended (as further amended from time to time, the "Schedule 13D"), (i) Piton Capital Partners LLC ("Piton"), Cornice Fiduciary Management LLC (as trustee of the Trust (as defined in the Schedule 13D)) and M3C Holdings LLC (collectively, the "Kokino Family Clients"), (ii) Mr. Averick, and (iii) OIH LLC also report beneficial ownership of shares of the Issuer's $.01 par value common stock ("Common Shares").

2. Indicates 2,250,000 Common Shares beneficially owned by the Kokino Family Clients. Mr. Averick is a Portfolio Manager at Kokino LLC ("Kokino"). Mr. Averick manages the Kokino Family Clients' investment in the Issuer as a Portfolio Manager of Kokino. Mr. Averick holds an indirect interest in certain Common Shares through his minority ownership of Piton, which is a Kokino Family Client (which ownership may be held through Piton's managing member, Piton Capital Management LLC ("PCM")). Also, Mr. Averick's incentive compensation/allocation as an employee of Kokino and member of Piton, which are generally calculated in Kokino's discretion subject to Piton's and PCM's governing documents, may be based on the performance of Common Shares held by Kokino Family Clients. Such compensation/allocation may be paid or made in cash and/or by way of increasing Mr. Averick's interest in Piton (either directly or indirectly through PCM). Kokino is PCM's managing member.

3. Indicates Common Shares held in a custodial account for the benefit of an immediate family member of Mr. Averick.

4. Indicates Common Shares held by Mr. Averick's spouse.

5. This is the total of all restricted stock units held by Mr. Averick as of the filing date of this Form 4.

6. This is the total of all director stock options (right to buy), including those with different terms and conditions, held by Mr. Averick as of the filing date of this Form 4 (and after giving effect to the reported transactions).

	/s/ Robert Averick	09/03/2025
	** 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 insider transactions did Robert M. Averick report for ASYS on 09/02/2025?

He reported exercising four director stock options (transaction code M) acquiring 6,000 shares each at exercise prices of $5.40, $5.75, $4.77, and $4.90.

How many ASYS shares are attributed to Kokino Family Clients in the filing?

The filing indicates Kokino Family Clients beneficially own 2,250,000 Common Shares per the referenced Schedule 13D.

What other equity holdings does Mr. Averick report in ASYS?

He reports 500 shares in a custodial account, 11,000 shares held by his spouse, 8,081 restricted stock units, and multiple option holdings totaling the series amounts disclosed.

Does the Form 4 explain the nature of indirect ownership?

Yes. The filing explains indirect ownership through Piton Capital Partners LLC and related Kokino entities and describes Mr. Averick’s role as a portfolio manager and minority owner.

Are the option exercisability and expiration dates disclosed?

Yes. Each option series lists original grant and expiration dates (e.g., grants from 2016–2020 with expirations 2026–2030) alongside the exercised quantities.