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Erickson Gayn

Date Filed : Nov 15, 2021

SEC FORM 4SEC Form 4
FORM 4UNITED 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
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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).
1. Name and Address of Reporting Person*
Erickson Gayn

(Last)(First)(Middle)
C/O AEHR TEST SYSTEMS
400 KATO TERRACE

(Street)
FREMONTCA94539

(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)
XDirector10% Owner
XOfficer (give title below)Other (specify below)
President and CEO
3. Date of Earliest Transaction (Month/Day/Year)
11/11/2021
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock11/11/2021M29,880A$2.1472,633D
Common Stock11/11/2021M15,140A$1.68487,773D
Common Stock11/11/2021M10,344A$3.93498,117D
Common Stock11/11/2021M19,003A$2.4517,120D
Common Stock11/11/2021M62,727A$1.635579,847D
Common Stock11/11/2021S80,000(1)D$23.287(2)499,847(3)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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Non-Qualified Stock Option (right to buy)$1.63511/11/2021M62,72708/16/2019(4)07/16/2026Common Stock62,727$03,338D
Non-Qualified Stock Option (right to buy)$1.6811/11/2021M15,14008/25/2016(4)07/25/2023Common Stock15,140$00D
Non-Qualified Stock Option (right to buy)$2.111/11/2021M29,88005/21/2015(4)04/21/2022Common Stock29,880$00D
Non-Qualified Stock Option (right to buy)$2.411/11/2021M19,00309/17/2018(4)08/17/2025Common Stock19,003$00D
Non-Qualified Stock Option (right to buy)$3.9311/11/2021M10,34408/11/2017(4)07/11/2024Common Stock010,344$00D
Explanation of Responses:
1. The shares were sold to cover the exercise cost and income tax payments in connection with the exercise of non-qualified stock options.
2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $22.91 to $23.90, inclusive. The reporting person undertakes to provide to Aehr Test Systems, any security holder of Aehr Test Systems, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth above.
3. The amount reported includes shares subject to unvested restricted stock units.
4. One forty-eighth (1/48) of the total number of shares became exercisable on this date and an additional one forty-eighth (1/48) of the total number of shares became exercisable each month thereafter.
Remarks:
Exhibit 24 - Power of Attorney
/s/ Kenneth B. Spink, Attorney-in-fact11/15/2021
** Signature of Reporting PersonDate
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.
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