Company: AEHR
Filing Date: 2025-09-10
Form Type: DEF 14A
Source: 0001654954-25-010620
Chunk: 22

Company: AEHR TEST SYSTEMS
Filing Date: 2025-09-10
Form: DEF 14A
Chunk 22
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 awards consistent with our current practices and historical usage. We cannot predict our future equity grant practices, the future price of our shares or future hiring activity with any degree of certainty at this time, and the share reserve under the 2023 Plan could last for a shorter or longer period than we have anticipated.

If shareholders do not approve the 2023 Plan Amendment, we will be unable to continue granting equity awards as needed, which could prevent us from successfully attracting and retaining the highly skilled talent we need.

In light of the factors described above and the key equity metrics set forth below, our Board of Directors has determined that the size of the share reserve increase under the 2023 Plan Amendment is reasonable and appropriate at this time.

Key Equity Metrics

On the Record Date, the Company had an aggregate of 29,968,988 shares of common stock outstanding, and a total of approximately 278,606 shares of common stock reserved for issuance and available for future grants under the 2023 Plan (assuming target-level achievement for any outstanding awards subject to performance-based conditions). As of the Record Date, there were approximately 588,041 options with a weighted average exercise price of $4.55 and 1,127,812 RSUs outstanding under the 2023 Plan.

The following table provides information regarding the grant of equity awards over the past three completed fiscal years and which we considered in requesting the number of additional shares under the 2023 Plan:

| Fiscal Year |     | OptionsGranted |         |     | RSUs Granted |         |     | TotalGranted (1) |         |     | Weighted Average #of Shares |            |     | BurnRate (2) |      |   |
| 2023        |     |                | 110,185 |     |              | 309,030 |     |                  | 419,215 |     |                             | 27,784,738 |     |              | 1.51 | % |
| 2024        |     |                |   4,500 |     |              | 220,891 |     |                  | 225,391 |     |                             | 28,817,914 |     |              | 0.78 | % |
| 2025        |     |                |       - |     |              | 634,269 |     |                  | 634,269 |     |                             | 29,580,682 |     |              | 2.14 | % |

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