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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Aehr Test Systems | NASDAQ:AEHR | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.25 | -2.09% | 11.73 | 11.58 | 11.98 | 12.28 | 11.56 | 11.79 | 881,696 | 01:00:00 |
CALIFORNIA
|
|
94-2424084
|
(State or other
jurisdiction of incorporation or organization)
|
|
(IRS Employer
Identification Number)
|
400
KATO TERRACE, FREMONT, CA
|
|
94539
|
(Address of
principal executive offices)
|
|
(Zip
Code)
|
|
Trading
|
|
Title
of each class
|
Symbol(s)
|
Name of each exchange on which registered
|
Common Stock,
par value $0.01 per share
|
AEHR
|
The NASDAQ Capital Market
|
Large accelerated
filer [ ]
|
Accelerated filer [
]
|
|
|
Non-accelerated
filer [X]
|
Smaller reporting
company [X]
|
|
|
Emerging growth
company [ ]
|
|
|
|
|
|
PART II
|
|
|
|
|
|
|
|
PART III
|
|
|
|
|
|
|
|
PART IV
|
|
|
|
|
|
|
|
|
High
|
Low
|
Fiscal
2021:
|
|
|
First quarter ended August 31,
2020
|
$2.49
|
$1.63
|
Second quarter ended November 30,
2020
|
1.90
|
1.15
|
Third quarter ended February 28,
2021
|
3.60
|
1.56
|
Fourth quarter ended May 31,
2021
|
3.17
|
1.94
|
|
|
|
Fiscal
2020:
|
|
|
First quarter ended August 31,
2019
|
$1.87
|
$1.27
|
Second quarter ended November 30,
2019
|
2.33
|
1.28
|
Third quarter ended February 29,
2020
|
2.78
|
1.75
|
Fourth quarter ended May 31,
2020
|
2.24
|
1.10
|
|
Payments Due by Period (in thousands)
|
||||
|
|
Less than
|
1 - 3
|
3 - 5
|
More than
|
|
Total
|
1 year
|
years
|
years
|
5 years
|
Lease obligations
|
$1,861
|
$813
|
$997
|
$51
|
$--
|
Line of credit
|
1,400
|
1,400
|
--
|
--
|
--
|
Current portion of long-term
debt
|
1,679
|
1,679
|
--
|
--
|
--
|
Interest on long-term debt (1)
|
16
|
16
|
--
|
--
|
--
|
Purchases (2)
|
3,377
|
3,377
|
--
|
--
|
--
|
Total
|
$8,333
|
$7,285
|
$997
|
$51
|
$--
|
Consolidated
Financial Statements of Aehr Test Systems
|
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
Report
of Independent Registered Public Accounting Firm
|
30
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated
Balance Sheets at May 31, 2021 and 2020
|
32
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated
Statements of Operations for the years ended May 31, 2021, 2020 and
2019
|
33
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated
Statements of Comprehensive Loss for the years ended May 31, 2021,
2020 and 2019
|
34
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated
Statements of Shareholders' Equity for the years ended May 31,
2021, 2020 and 2019
|
35
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated
Statements of Cash Flows for the years ended May 31, 2021, 2020 and
2019
|
36
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
Notes
to Consolidated Financial Statements
|
37
|
|
Year Ended May 31,
|
||
|
2021
|
2020
|
2019
|
|
|
|
|
Net sales
|
$16,600
|
$22,291
|
$21,056
|
Cost of sales
|
10,568
|
13,920
|
13,454
|
Gross profit
|
6,032
|
8,371
|
7,602
|
|
|
|
|
Operating
expenses:
|
|
|
|
Selling, general and
administrative
|
6,562
|
7,530
|
7,724
|
Research and development
|
3,652
|
3,386
|
4,153
|
Restructuring
|
--
|
220
|
725
|
|
|
|
|
Total operating
expenses
|
10,214
|
11,136
|
12,602
|
|
|
|
|
Loss from operations
|
(4,182)
|
(2,765)
|
(5,000)
|
|
|
|
|
Interest (expense) income, net
|
(46)
|
10
|
(252)
|
Net gain from dissolution of Aehr Test Systems
Japan
|
2,186
|
--
|
--
|
Other (expense) income, net
|
(162)
|
(11)
|
44
|
|
|
|
|
Loss before income tax benefit
(expense)
|
(2,204)
|
(2,766)
|
(5,208)
|
|
|
|
|
Income tax benefit (expense)
|
177
|
(36)
|
(27)
|
Net loss
|
(2,027)
|
(2,802)
|
(5,235)
|
Less:
Net income attributable to the noncontrolling interest
|
--
|
--
|
--
|
|
|
|
|
Net
loss attributable to Aehr Test Systems common shareholders
|
$(2,027)
|
$(2,802)
|
$(5,235)
|
|
|
|
|
Net loss per share – basic and
diluted
|
$(0.09)
|
$(0.12)
|
$(0.23)
|
Shares used in per share calculation –
basic
|
23,457
|
22,882
|
22,387
|
Shares used in per share calculation –
diluted
|
23,457
|
22,882
|
22,387
|
|
Year Ended May 31,
|
||
|
2021
|
2020
|
2019
|
|
|
|
|
|
|
|
|
Net
loss
|
$(2,027)
|
$(2,802)
|
$(5,235)
|
|
|
|
|
Other comprehensive
income (loss), net of tax:
Foreign
currency translation income (loss)
|
160
|
2
|
(61)
|
Reclassification
of cumulative translation adjustment as a result of dissolution of
Aehr Test Systems Japan
|
(2,401)
|
--
|
--
|
|
|
|
|
Total comprehensive
loss
|
(4,268)
|
(2,800)
|
(5,296)
|
Less: Comprehensive
income (loss) attributable to noncontrolling interest
|
21
|
(2)
|
1
|
|
|
|
|
Comprehensive
loss, attributable to Aehr Test
Systems
|
$(4,289)
|
$(2,798)
|
$(5,297)
|
|
|
|
|
|
|
|
|
|
||||||||
|
|
|
|
|
|
|
|
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Aehr
|
|
|
|
|
|
|
Accumulated
|
|
Test
|
|
|
|
|
|
Additional
|
Other
|
|
Systems
|
|
Total
|
|
|
Common Stock
|
Paid-in
|
Comprehensive
|
Accumulated
|
Shareholders’
|
Noncontrolling
|
Shareholders'
|
|
|
Shares
|
Amount
|
Capital
|
Income
|
Deficit
|
Equity
|
Interest
|
Equity
|
Balances, May
31, 2018
|
22,143
|
$221
|
$83,041
|
$2,292
|
$(66,249)
|
$19,305
|
$(20)
|
$19,285
|
|
|
|
|
|
|
|
|
|
Issuance of
common stock under employee plans
|
526
|
6
|
553
|
--
|
--
|
559
|
--
|
559
|
Stock-based
compensation
|
--
|
--
|
905
|
--
|
--
|
905
|
--
|
905
|
Net
loss
|
--
|
--
|
--
|
--
|
(5,235)
|
(5,235)
|
--
|
(5,235)
|
Foreign
currency translation adjustment
|
--
|
--
|
--
|
(62)
|
--
|
(62)
|
1
|
(61)
|
|
|
|
|
|
|
|
|
|
Balances, May
31, 2019
|
22,669
|
227
|
84,499
|
2,230
|
(71,484)
|
15,472
|
(19)
|
15,453
|
|
|
|
|
|
|
|
|
|
Issuance of
common stock under employee plans
|
444
|
4
|
499
|
--
|
--
|
503
|
--
|
503
|
Shares
repurchased for tax withholdings on vesting of
RSUs
|
(6)
|
--
|
(10)
|
--
|
--
|
(10)
|
--
|
(10)
|
Stock-based
compensation
|
--
|
--
|
910
|
--
|
--
|
910
|
--
|
910
|
Net
loss
|
--
|
--
|
--
|
--
|
(2,802)
|
(2,802)
|
--
|
(2,802)
|
Foreign
currency translation adjustment
|
--
|
--
|
--
|
4
|
--
|
4
|
(2)
|
2
|
|
|
|
|
|
|
|
|
|
Balances, May
31, 2020
|
23,107
|
231
|
85,898
|
2,234
|
(74,286)
|
14,077
|
(21)
|
14,056
|
|
|
|
|
|
|
|
|
|
Issuance of
common stock under employee plans
|
627
|
6
|
574
|
--
|
--
|
580
|
--
|
580
|
Shares
repurchased for tax withholdings on vesting of
RSUs
|
(9)
|
--
|
(20)
|
--
|
--
|
(20)
|
--
|
(20)
|
Stock-based
compensation
|
--
|
--
|
1,101
|
--
|
--
|
1,101
|
--
|
1,101
|
Net loss
|
--
|
--
|
--
|
--
|
(2,027)
|
(2,027)
|
--
|
(2,027)
|
Reclassification
of cumulative translation adjustment
|
--
|
--
|
--
|
(2,401)
|
--
|
(2,401)
|
--
|
(2,401)
|
Foreign
currency translation adjustment
|
--
|
--
|
--
|
139
|
--
|
139
|
21
|
160
|
|
|
|
|
|
|
|
|
|
Balances, May
31, 2021
|
23,725
|
$237
|
$87,553
|
$(28)
|
$(76,313)
|
$11,449
|
--
|
$11,449
|
|
Year Ended May 31,
|
||
|
2021
|
2020
|
2019
|
Cash
flows from operating activities:
|
|
|
|
Net loss
|
$(2,027)
|
$(2,802)
|
$(5,235)
|
Adjustments to reconcile net loss to net cash used
in operating
activities:
|
|
|
|
Stock-based compensation
expense
|
1,101
|
910
|
905
|
Recovery of doubtful
accounts
|
--
|
--
|
(3)
|
Depreciation and
amortization
|
310
|
384
|
431
|
Loss on disposal of
assets
|
--
|
45
|
--
|
Net gain from dissolution
of Aehr Test Systems Japan
|
(2,186)
|
--
|
--
|
Income
tax benefit related to dissolution of Aehr Test Systems Japan
|
(215)
|
--
|
--
|
Changes
in operating assets and liabilities:
|
|
|
|
Accounts
receivable
|
(1,373)
|
1,161
|
(2,043)
|
Inventories
|
(972)
|
1,164
|
(112)
|
Prepaid
expenses and other
|
(81)
|
271
|
84
|
Accounts
payable
|
1,877
|
(1,024)
|
210
|
Accrued
expenses
|
732
|
(589)
|
402
|
Customer
deposits and deferred revenue
|
96
|
(1,542)
|
(355)
|
Deferred
rent
|
--
|
--
|
90
|
Other
long-term liabilities
|
47
|
--
|
--
|
Income taxes
payable
|
(10)
|
(2)
|
(11)
|
Net
cash used in operating activities
|
(2,701)
|
(2,024)
|
(5,637)
|
|
|
|
|
Cash
flows from investing activities:
|
|
|
|
Purchases of property and
equipment
|
(227)
|
(163)
|
(173)
|
Net
cash used in investing activities
|
(227)
|
(163)
|
(173)
|
|
|
|
|
Cash
flows from financing activities:
|
|
|
|
Repayment of convertible
notes
|
--
|
--
|
(6,110)
|
Proceeds from long-term
debt
|
--
|
1,679
|
--
|
Line of credit borrowings,
net
|
1,400
|
--
|
--
|
Proceeds from issuance of common
stock under employee plans
|
580
|
503
|
559
|
Shares repurchased for tax withholdings on
vesting of restricted stock units
|
(20)
|
(10)
|
--
|
Net
cash provided by (used in) financing activities
|
1,960
|
2,172
|
(5,551)
|
|
|
|
|
Effect of exchange rates on cash, cash equivalents
and restricted cash
|
117
|
20
|
(59)
|
|
|
|
|
Net (decrease)
increase in cash, cash equivalents and restricted cash
|
(851)
|
5
|
(11,420)
|
|
|
|
|
Cash, cash equivalents and restricted cash,
beginning of year
|
5,513
|
5,508
|
16,928
|
Cash, cash equivalents and restricted cash, end of
year
|
$4,662
|
$5,513
|
$5,508
|
|
|
|
|
Supplemental
cash flow information:
|
|
|
|
Cash
paid during the year for:
|
|
|
|
Income
taxes
|
$15
|
$42
|
$37
|
Interest
|
$6
|
$--
|
$610
|
|
|
|
|
Supplemental
disclosure of non-cash flow information:
|
|
|
|
Net
transfer of equipment between inventory and property and equipment
|
$113
|
$112
|
$119
|
|
Year Ended May 31,
|
||
|
2021
|
2020
|
2019
|
Geographic
region:
|
|
|
|
United States
|
$5,386
|
$13,544
|
$13,468
|
Asia
|
11,074
|
7,556
|
5,648
|
Europe
|
140
|
1,191
|
1,940
|
|
$16,600
|
$22,291
|
$21,056
|
|
Balance as of
|
|
|
|
|
May 31, 2021
|
Level 1
|
Level 2
|
Level 3
|
Money market funds
|
$580
|
$580
|
$--
|
$--
|
Assets
|
$580
|
$580
|
$--
|
$--
|
|
Balance as of
|
|
|
|
|
May 31, 2020
|
Level 1
|
Level 2
|
Level 3
|
Money market funds
|
$80
|
$80
|
$--
|
$--
|
Assets
|
$80
|
$80
|
$--
|
$--
|
|
May 31,
|
|
|
2021
|
2020
|
Accounts receivable
|
$5,202
|
$3,717
|
Less: Allowance for doubtful
accounts
|
--
|
--
|
|
$5,202
|
$3,717
|
|
May 31,
|
|
(In
Thousands)
|
2021
|
2020
|
Raw materials and
sub-assemblies
|
$5,859
|
$5,055
|
Work in process
|
2,988
|
2,917
|
Finished goods
|
2
|
17
|
|
$8,849
|
$7,989
|
|
May
31,
|
|
(In
Thousands)
|
2021
|
2020
|
Leasehold improvements
|
$1,214
|
$1,201
|
Furniture and fixtures
|
627
|
612
|
Machinery and equipment
|
3,343
|
3,038
|
Test equipment
|
2,525
|
2,516
|
|
7,709
|
7,367
|
Less:
Accumulated depreciation and amortization
|
(7,032)
|
(6,704)
|
|
$677
|
$663
|
|
May 31,
|
|
(In
Thousands)
|
2021
|
2020
|
Payroll related
|
$1,020
|
$791
|
Warranty
|
494
|
246
|
Commissions and bonuses
|
413
|
139
|
Professional services
|
168
|
173
|
Investor relations
|
22
|
19
|
Accrued interest
|
16
|
--
|
Taxes payable
|
5
|
30
|
Restructuring
|
--
|
8
|
Other
|
25
|
33
|
|
$2,163
|
$1,439
|
|
May 31,
|
|
(In
Thousands)
|
2021
|
2020
|
Customer deposits
|
$27
|
$--
|
Deferred revenue
|
162
|
170
|
|
$189
|
$170
|
|
Year Ended May 31,
|
||
|
2021
|
2020
|
2019
|
Domestic
|
$(13,064)
|
$(2,751)
|
$(5,273)
|
Foreign
|
10,860
|
(15)
|
65
|
|
$(2,204)
|
$(2,766)
|
$(5,208)
|
Beginning balance as of May 31,
2018
|
$1,785
|
|
|
Decreases related to prior year tax
positions
|
(41)
|
Increases related to current year tax
positions
|
65
|
|
|
Balance at May 31, 2019
|
$1,809
|
|
|
Decreases related to prior year tax
positions
|
(11)
|
Increases related to current year tax
positions
|
54
|
|
|
Balance at May 31, 2020
|
$1,852
|
|
|
Increases related to prior year tax
positions
|
11
|
Increases related to current year tax
positions
|
65
|
|
|
Balance at May 31, 2021
|
$1,928
|
Fiscal year
|
Operating Leases
|
2022
|
$813
|
2023
|
829
|
2024
|
168
|
2025
|
32
|
2026
|
19
|
Thereafter
|
--
|
Total
future minimum operating lease payments
|
1,861
|
Less:
imputed interest
|
(117)
|
Present
value of operating lease liabilities
|
$1,744
|
|
Year Ended May 31,
|
||
|
2021
|
2020
|
2019
|
|
|
|
|
Expected term (in years)
|
6
|
5
|
5
|
Volatility
|
72.0%
|
71.5%
|
71.9%
|
Risk-free interest rates
|
0.44%
|
1.56%
|
2.83%
|
Weighted average grant date fair
value
|
$1.12
|
$0.95
|
$1.33
|
|
Year End May 31,
|
||||
|
2021
|
|
2020
|
|
2019
|
|
|
|
|
|
|
Expected term (in years)
|
0.5 – 2.0
|
|
0.5 – 2.0
|
|
0.5 – 2.0
|
Volatility
|
74% – 88%
|
|
62% – 77%
|
|
48% – 78%
|
Risk-free interest rates
|
0.04%–0.17%
|
|
0.14%–1.81%
|
|
2.33%–2.82%
|
Weighted average grant date fair value
|
$1.03
|
|
$0.79
|
|
$1.14
|
|
Available
|
|
Shares
|
Balance, May 31, 2018
|
1,812
|
|
|
Options granted
|
(804)
|
RSUs cancelled
|
8
|
Options terminated
|
195
|
Options expired
|
(64)
|
|
|
Balance, May 31, 2019
|
1,147
|
|
|
Additional shares reserved
|
1,196
|
Options granted
|
(738)
|
RSUs granted
|
(25)
|
Shares
withheld for taxes and not issued
|
6
|
Options terminated
|
457
|
Options expired
|
(393)
|
|
|
Balance, May 31, 2020
|
1,650
|
|
|
Options granted
|
(297)
|
RSUs granted
|
(340)
|
RSUs
cancelled
|
1
|
Shares
withheld for taxes and not issued
|
9
|
Options terminated
|
455
|
Options expired
|
(341)
|
|
|
Balance, May 31, 2021
|
1,137
|
|
Outstanding Options
|
||
|
|
Weighted
|
|
|
Number
|
Average
|
Aggregate
|
|
of
|
Exercise
|
Intrinsic
|
|
Shares
|
Price
|
Value
|
Balances, May 31, 2018
|
2,859
|
$2.04
|
$1,987
|
|
|
|
|
Options granted
|
804
|
$2.19
|
|
Options terminated
|
(195)
|
$2.32
|
|
Options exercised
|
(361)
|
$0.85
|
|
|
|
|
|
Balances, May 31, 2019
|
3,107
|
$2.20
|
$283
|
|
|
|
|
Options granted
|
738
|
$1.61
|
|
Options terminated
|
(457)
|
$1.98
|
|
Options exercised
|
(235)
|
$1.22
|
|
|
|
|
|
Balances, May 31, 2020
|
3,153
|
$2.17
|
$102
|
|
|
|
|
Options granted
|
297
|
$1.78
|
|
Options terminated
|
(455)
|
$2.31
|
|
Options exercised
|
(229)
|
$1.54
|
|
|
|
|
|
Balances, May 31, 2021
|
2,766
|
$2.16
|
$807
|
|
|
|
|
Options
fully vested and expected to vest at
May 31, 2021
|
2,732
|
$2.16
|
$795
|
|
Options
Outstanding
|
Options
Exercisable
|
|||||
|
at May 31,
2021
|
at May 31,
2021
|
|||||
Range of
Exercise
Prices
|
Number
Outstanding Shares
|
Weighted Average
Remaining Contractual Life (Years)
|
Weighted Average
Exercise Price
|
Number
Exercisable Shares
|
Weighted Average
Remaining Contractual Life (Years)
|
Weighted Average
Exercise Price
|
Aggregate
Intrinsic Value
|
$1.22-$1.34
|
133
|
6.05
|
$1.27
|
56
|
6.15
|
$1.29
|
|
$1.64-$1.86
|
1,040
|
4.80
|
$1.70
|
625
|
4.33
|
$1.69
|
|
$2.03-$2.46
|
1,035
|
3.09
|
$2.21
|
814
|
2.68
|
$2.20
|
|
$2.65-$2.81
|
358
|
0.46
|
$2.72
|
357
|
0.45
|
$2.72
|
|
$3.46-$3.93
|
200
|
3.16
|
$3.86
|
193
|
3.16
|
$3.85
|
|
|
|
|
|
|
|
|
|
$1.22-$3.93
|
2,766
|
3.54
|
$2.16
|
2,045
|
2.94
|
$2.26
|
$492
|
|
Year Ended May 31,
|
||
|
2021
|
2020
|
2019
|
Foreign exchange (loss) gain
|
$(111)
|
$(12)
|
$43
|
Other (expense) income, net
|
(51)
|
1
|
1
|
|
$(162)
|
$(11)
|
$44
|
|
Three Months Ended
|
|||
|
Aug. 31,
|
Nov. 30,
|
Feb. 28,
|
May 31,
|
|
2020
|
2020
|
2021
|
2021
|
Net sales
|
$2,012
|
$1,683
|
$5,267
|
$7,638
|
Gross profit
|
$227
|
$377
|
$1,894
|
$3,534
|
Net income (loss)
|
$107
|
$(1,966)
|
$(735)
|
$567
|
Net income (loss) per share basic and
diluted
|
$0.00
|
$(0.08)
|
$(0.03)
|
$0.02
|
|
Three Months Ended
|
|||
|
Aug. 31,
|
Nov. 30,
|
Feb. 29,
|
May 31,
|
|
2019
|
2019
|
2020
|
2020
|
Net sales
|
$5,533
|
$6,874
|
$6,111
|
$3,773
|
Gross profit (loss)
|
$2,271
|
$3,202
|
$2,991
|
$(93)
|
Net (loss) income
|
$(413)
|
$251
|
$245
|
$(2,885)
|
Net (loss) income per share basic and
diluted
|
$(0.02)
|
$0.01
|
$0.01
|
$(0.13)
|
Exhibit Number
|
|
Description
|
|||||||||
3.1(1)
|
|
Restated
Articles of Incorporation of Registrant.
|
|||||||||
3.2(2)(25)
|
|
Amended
and Restated Bylaws of Registrant.
|
|||||||||
4.1(3)
|
|
Form
of Common Stock certificate.
|
|||||||||
4.2(4)
|
|
Registration
Rights Agreement by and among the Company and the
Investors
(as defined therein), dated as of September 22,
2016.
|
|||||||||
|
Description
of Securities (filed herewith)
|
||||||||||
10.1(5)
|
|
2006
Equity Incentive Plan.*
|
|||||||||
10.2(6)
|
|
Amended
and Restated 2006 Employee Stock Purchase Plan.*
|
|||||||||
10.3(7)
|
|
2016
Equity Incentive Plan.*
|
|||||||||
10.4(8)
|
|
Form
of Indemnification Agreement entered into between Registrant
and
its directors and executive officers.*
|
|||||||||
10.5(9)
|
|
Form
of Change of Control Agreement.*
|
|||||||||
10.6(10)
|
|
Lease
dated August 3, 1999 for facilities located at Building C,
400
Kato Terrace, Fremont, California.
|
|||||||||
10.7(11)
|
|
First
Amendment dated May 06, 2008 for facilities located at 400 Kato
Terrace, Fremont, California.
|
|||||||||
10.8(12)
|
|
Second
Amendment dated November 7, 2014 for facilities located at
400
Kato Terrace, Fremont, California.
|
|||||||||
10.9(13)
|
|
Third
Amendment dated February 27, 2018 for facilities located at
400
Kato Terrace, Fremont, California.
|
|||||||||
10.10(14)
|
|
Offer
Letter dated January 3, 2012, between the Company and Gayn
Erickson.*
|
|||||||||
10.11(15)
|
|
Offer
Letter dated March 5, 2013, between the Company and Rhea
Posedel.*
|
|||||||||
10.12(16)
|
|
Change
of Control Severance Agreement dated January 3, 2012, between the
Company and Gayn Erickson.*
|
|||||||||
10.13(17)
|
|
Amended
and Restated Change of Control Severance Agreement dated March 5,
2013, between the Company and Rhea J. Posedel.*
|
|||||||||
10.15(18)
|
|
Form
of 2006 Equity Incentive Plan Stock Option Award Agreement.*
|
|||||||||
10.16(19)
|
|
Form
of 2006 Equity Incentive Plan Restricted Stock Unit Award.*
|
|||||||||
10.17(20)
|
|
Form
of 2016 Equity Incentive Plan Stock Option Award Agreement.*
|
|||||||||
10.18(21)
|
|
Form
of 2016 Equity Incentive Plan Restricted Stock Unit Award.*
|
|||||||||
10.19(22)
|
|
Purchase
Agreement by and among the Company and the Investors (as defined
therein), dated as of September 22, 2016.
|
|||||||||
10.20(23)
|
|
Loan
and Security Agreement, dated as of January 13, 2020 and effective
on January 16, 2020, by and between Silicon Valley Bank and Aehr
Test Systems.
|
|||||||||
10.21(24)
|
|
Promissory
note, dated April 23, 2020 with Silicon Valley Bank as Lender and
Aehr Test Systems as Borrower.
|
|||||||||
10.22(26)
|
|
First Amendment,
dated as of January 14, 2021, to Loan and Security Agreement by and
between Silicon Valley Bank and Aehr Test Systems, dated January
13, 2020
|
|||||||||
|
Subsidiaries
of the Company (filed herewith).
|
||||||||||
|
Consent
of BPM LLP - Independent Registered Public Accounting Firm
(filed
herewith).
|
||||||||||
|
Power
of Attorney (incorporated by reference to the signature page of
this Annual Report on Form 10-K).
|
|
Certification
Statement of Chief Executive Officer pursuant to Section 302(a) of
the Sarbanes-Oxley Act of 2002 (filed herewith).
|
|
|
Certification
Statement of Chief Financial Officer pursuant to Section 302(a) of
the Sarbanes-Oxley Act of 2002 (filed herewith).
|
|
Certification
of Chief Executive Officer and Chief Financial Officer pursuant to
18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002 (furnished herewith).
|
|
101.INS
|
|
XBRL
Instance Document
|
101.SCH
|
|
XBRL
Taxonomy Extension Schema Document
|
101.CAL
|
|
XBRL
Taxonomy Extension Calculation Linkbase Document
|
101.DEF
|
|
XBRL
Taxonomy Extension Definition Linkbase Document
|
101.LAB
|
|
XBRL
Taxonomy Extension Label Linkbase Document
|
101.PRE
|
|
XBRL
Taxonomy Extension Presentation Linkbase Document
|
|
AEHR TEST
SYSTEMS
|
|
|
|
|
|
|
Dated: August 27,
2021
|
By:
|
/s/ GAYN
ERICKSON
|
|
|
|
Gayn
Erickson
|
|
|
|
PRESIDENT AND CHIEF
EXECUTIVE OFFICER
|
|
|
|
(Principal
Executive Officer)
|
|
Signature
|
|
Title
|
|
Date
|
|
|
|
|
|
|
|
President, Chief
Executive Officer, and Director
|
|
|
/s/
GAYN ERICKSON
|
|
(Principal
Executive Officer)
|
|
August 27,
2021
|
Gayn Erickson
|
|
|
|
|
|
|
Vice President of
Finance and Chief Financial Officer
|
|
|
/s/ KENNETH
B. SPINK
|
|
(Principal
Financial and Accounting Officer)
|
|
August 27,
2021
|
Kenneth B. Spink
|
|
|
|
|
|
|
|
|
|
/s/ FARIBA
DANESH
|
|
Director
|
|
August 27,
2021
|
Fariba
Danesh
|
|
|
|
|
|
|
|
|
|
/s/
LAURA OLIPHANT
|
|
Director
|
|
August 27,
2021
|
Laura Oliphant
|
|
|
|
|
|
|
|
|
|
/s/
RHEA J. POSEDEL
|
|
Chairman
|
|
August 27,
2021
|
Rhea J. Posedel
|
|
|
|
|
|
|
|
|
|
/s/ MARIO M.
ROSATI
|
|
Director
|
|
August 27,
2021
|
Mario M. Rosati
|
|
|
|
|
|
|
|
|
|
/s/
GEOFFREY G. SCOTT
|
|
Director
|
|
August 27,
2021
|
Geoffrey G. Scott
|
|
|
|
|
|
|
|
|
|
/s/ HOWARD T.
SLAYEN
|
|
Director
|
|
August 27,
2021
|
Howard T. Slayen
|
|
|
1 Year Aehr Test Systems Chart |
1 Month Aehr Test Systems Chart |
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