<SEC-DOCUMENT>0001654954-21-005662.txt : 20210514
<SEC-HEADER>0001654954-21-005662.hdr.sgml : 20210514
<ACCEPTANCE-DATETIME>20210514115644
ACCESSION NUMBER:		0001654954-21-005662
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20210510
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20210514
DATE AS OF CHANGE:		20210514

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AEHR TEST SYSTEMS
		CENTRAL INDEX KEY:			0001040470
		STANDARD INDUSTRIAL CLASSIFICATION:	INSTRUMENTS FOR MEAS & TESTING OF ELECTRICITY & ELEC SIGNALS [3825]
		IRS NUMBER:				942424084
		STATE OF INCORPORATION:			CA
		FISCAL YEAR END:			0531

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-22893
		FILM NUMBER:		21922964

	BUSINESS ADDRESS:	
		STREET 1:		400 KATO TERRACE
		CITY:			FREMONT
		STATE:			CA
		ZIP:			94539
		BUSINESS PHONE:		5106239400

	MAIL ADDRESS:	
		STREET 1:		400 KATO TERRACE
		CITY:			FREMONT
		STATE:			CA
		ZIP:			94539
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>aehr_8k.htm
<DESCRIPTION>CURRENT REPORT
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UNITED STATES</font></div>
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SECURITIES AND EXCHANGE COMMISSION</font></div>
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Washington, D.C. 20549</font></div>
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FORM 8-K</font></div>
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CURRENT REPORT</font></div>
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Pursuant to Section&#xA0;13 or 15(d) of the Securities Exchange Act
of 1934</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Date of
Report (Date of earliest event reported)</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
May 10, 2021</font></div>
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&#xA0;<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">AEHR
TEST SYSTEMS</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">(Exact
name of registrant as specified in its charter)</font></div>
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California</font></div>
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000-22893</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
94-2424084</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">(State
or other jurisdiction of incorporation)</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">(Commission
File Number)</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">(IRS
Employer Identification No.)</font></div>
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400 KATO TERRACE, FREMONT, CA 94539</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">(Address
of principal executive offices, including zip code)</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
510-623-9400</font></div>
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name or former address, if changed since last report)</font></div>
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under any of the following provisions (see General Instruction A.2.
below):</font></div>
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the Securities Act (17 CFR 230.425)</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Indicate
by check mark whether the registrant is an emerging growth company
as defined in Rule 405 of the Securities Act of 1933 (&#xA7;230.405
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1934 (&#xA7;240.12b-2 of this chapter).</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Emerging
growth company <font>&#x2610;</font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">If an
emerging growth company, indicate by check mark if the registrant
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with any new or revised financial accounting standards provided
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<font style="font-family: Times New Roman; font-size: 13px">Securities
registered pursuant to Section 12(b) of the Act:</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Title
of each class</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Trading</font></div>
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<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Name of
each exchange on which registered</font></div>
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<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Symbol(s)</font></div>
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<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Common
Stock, par value $0.01 per share</font></div>
</td>
<td style="vertical-align: bottom; width: 20%; border-left: 0.5pt solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">AEHR</font></div>
</td>
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<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
NASDAQ Capital Market</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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</div>
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<div style="text-align: left; margin-left: 0px; margin-right: -3px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: -3px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">Item
5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">(d)</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">Effective as of May
10, 2021, the board of directors (the &#x201C;Board&#x201D;) of Aehr
Test Systems (the &#x201C;Company&#x201D;) increased the size of the
Board by one director, from six to seven directors, and appointed
Fariba Danesh to the Board. Ms. Danesh will serve as a director
with a term expiring at the Company&#x2019;s 2021 Annual Meeting of
Shareholders. The Board did not appoint Ms. Danesh to serve on any
of the committees of the Board immediately, but may do so in the
future.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">Pursuant to the
Company&#x2019;s outside director compensation policy, the terms of
which will be described in the Company&#x2019;s proxy statement for
its 2021 Annual Meeting of Shareholders, Ms. Danesh will receive an
annual retainer of $40,000, payable in quarterly installments of
$10,000, an initial stock option to purchase 15,000 shares of the
Company&#x2019;s common stock (the &#x201C;Common Stock&#x201D;) on
the date of her appointment to the Board and a stock option to
purchase 10,000 shares of Common Stock upon her annual re-election
to the Board. The annual retainer will be paid in cash, stock
options, or restricted stock units at the direction of the Board.
Ms. Dahesh will also execute the Company&#x2019;s standard form of
indemnification agreement.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">There
are no arrangements or understandings between Ms. Danesh and any
other person pursuant to which she was appointed as a director, nor
are there any transactions between Ms. Danesh and the Company that
would be reportable under Item 404(a) of Regulation S-K promulgated
by the Securities and Exchange Commission.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
Item 7.01 Regulation FD Disclosure</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">On May
14, 2021, the Company issued a press release announcing the
appointment of Ms. Danesh to the Board. A copy of the press release
is included as Exhibit 99.1.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">This
information is intended to be furnished under Item 7.01 of Form 8-K
and shall not be deemed filed for purposes of Section 18 of the
Securities Exchange Act of 1934, as amended (the &#x201C;Exchange
Act&#x201D;), or incorporated by reference in any filing under the
Securities Act of 1933, as amended, or the Exchange Act, except as
shall be expressly set forth by specific reference in such a
filing.</font></div>
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Item 9.01. Financial Statements and Exhibits.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">(d)
Exhibits.</font></div>
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Exhibit No.</font></div>
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Description</font></div>
</td>
</tr><tr style="background-color: #cceeff">
<td style="vertical-align: top; width: 10%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><a href="aehr_ex991.htm"><font style="font-family: Times New Roman; font-size: 13px">99.1</font></a></div>
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<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Press
Release dated May 14, 2021.</font></div>
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&#xA0;&#xA0;<font style="font-family: Times New Roman; font-size: 13px"><br></font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
SIGNATURES</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Pursuant
to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Aehr Test Systems</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">(Registrant)</font></div>
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<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-family: Times New Roman">
Date:</font> May 14, 2021</font></div>
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By:&#xA0;&#xA0;</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
/s/ Kenneth B. Spink</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Kenneth B. Spink</font></div>
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Vice President of Finance and&#xA0;Chief</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Financial Officer</font></div>
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<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>aehr_ex991.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
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&#xA0; <font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">Exhibit 99.1</font><br></font></div>
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Contacts:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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Aehr Test Systems</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Ken
Spink</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Chief
Financial Officer</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">(510)
623-9400 x309</font></div>
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<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
MKR Investor Relations Inc.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Todd
Kehrli or Jim Byers</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Analyst/Investor
Contact</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
(323) 468-2300</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">aehr@mkr-group.com</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
Aehr Test Systems Appoints Technology Industry Veteran</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
Fariba Danesh to its Board of Directors</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold; color: #231F20">
Fremont, CA (May 14, 2021) &#x2013; Aehr Test Systems (NASDAQ:
AEHR),&#xA0;</font><font style="color: #231F20">a worldwide
supplier of semiconductor test and reliability qualification
equipment, today</font> announced it has appointed Fariba Danesh to
its board of directors, effective May 10, 2021.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Ms.
Danesh is a technology industry veteran, with 30 years of
<font style="color: #000000">executive-level technology and
operating leadership in multiple enterprise and consumer hardware
markets, with special emphasis on semiconductor, photonics,
telecommunications, and data storage. She i</font>s currently COO
at PsiQuantum, a quantum computing startup based in Palo Alto, CA
that is using silicon photonics to build the world's first useful
quantum computer, applying existing semiconductor and photonics
manufacturing processes.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Gayn
Erickson, President and CEO of&#xA0;Aehr Test Systems, commented,
<font style="color: #000000">&#x201C;Fariba brings incredible
knowledge, experience, and contacts in the compound semiconductor
and optical semiconductor spaces. She is intimately aware of the
challenges and critical requirements for stabilization and burn-in
of these optical semiconductors and the unique value that
Aehr&#x2019;s wafer level, singulated die and module test solutions
bring to reliability testing. We are excited to have her join our
Board.&#x201D;</font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Ms. Danesh said, &#x201C;I am very excited to be joining the Aehr
Test Systems Board. With the unique capabilities of its test and
burn-in solutions, particularly for the silicon carbide and silicon
photonic markets, Aehr is well positioned to address the
significant market opportunities ahead.&#x201D;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Prior
to joining PsiQuantum in January 2021, Ms. Danesh served for nine
years as CEO of Glo AB, <font style="color: #000000">a
venture-funded photonics/compound semiconductor company that</font>
designs and develops semiconductor light-emitting diodes at levels
of brightness suitable for general illumination applications. Prior
to that, she was SVP, General Manager Fiber Optics Products
Division of Avago Technologies (now Broadcom) for three years,
where she had complete P&amp;L responsibility for a $400 million
annual revenue photonics business. Previous to that she served in
senior executive positions at several leading technology companies,
including <font style="color: #000000">EVP of Global Operations for
Maxtor, a $3 billion annual revenue data storage company, COO
of</font> Finisar Corporation<font style="color: #000000">,&#xA0;</font>one of the top three fiber optic
communication product companies in the world, and CEO/COO of Genoa
Corporation, a <font style="color: #000000">III-V semiconductor
optical amplifier company.</font></font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
With the appointment of Ms. Danesh, Aehr Test now has seven board
members.</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
About Aehr Test Systems</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Headquartered
in Fremont, California, Aehr Test Systems is a worldwide provider
of test systems for burning-in and testing logic, optical and
memory integrated circuits and has <font style="color: #000000">installed over 2,500 systems worldwide</font>.
Increased quality and reliability needs of the Automotive and
Mobility integrated circuit markets are driving additional test
requirements, incremental capacity needs, and new opportunities for
Aehr Test products in package, wafer level, and singulated
die/module level test. Aehr Test has developed and introduced
several innovative products, including the ABTS<font style="font-size: 70%; vertical-align: top">TM</font> and
FOX-P<font style="font-size: 70%; vertical-align: top">TM</font>
families of test and burn-in systems and FOX WaferPak<font style="font-size: 70%; vertical-align: top">TM</font> Aligner, FOX-XP
WaferPak Contactor, FOX DiePak<font style="font-size: 70%; vertical-align: top">&#xAE;</font> Carrier and FOX
DiePak Loader. The ABTS system is used in production and
qualification testing of packaged parts for both lower power and
higher power logic devices as well as all common types of memory
devices. The FOX-XP and FOX-NP systems are full wafer contact and
singulated die/module test and burn-in systems used for burn-in and
functional test of complex devices, such as leading-edge memories,
digital signal processors, microprocessors, microcontrollers,
systems-on-a-chip, and integrated optical devices. The FOX-CP
system is a new low-cost single-wafer compact test and reliability
verification solution for logic, memory and photonic devices and
the newest addition to the FOX-P product family. The WaferPak
contactor contains a unique full wafer probe card capable of
testing wafers up to 300mm that enables IC manufacturers to perform
test and burn-in of full wafers on Aehr Test FOX systems. The
DiePak Carrier is a reusable, temporary package that enables IC
manufacturers to perform cost-effective final test and burn-in of
both bare die and modules. For more information, please visit Aehr
Test Systems&#x2019; website at <font style="text-decoration: underline; color: #0000FF">www.aehr.com</font>.</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
# # #</font></div>
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