Company: AEHR
Filing Date: 2025-01-13
Form Type: 10-Q
Source: 0001654954-25-000285
Chunk: 23

Company: AEHR TEST SYSTEMS
Filing Date: 2025-01-13
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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November 30,  (In thousands) 2024  2023  2024  2023 Cost of sales $69  $101  $162  $164 Research and development  278   139   486   292 Selling, general and administrative  728   398   1,297   704   $1,075  $638  $1,945  $1,160  Stock-based compensation expense totaling $0.5 million and $0.3 million was capitalized as part of inventory as of November 29, 2024 and May 31, 2024, respectively. The Company’s nonvested RSU, PRSU and restricted shares activities during the six months ended November 29, 2024 were as follows:      Weighted      Average Grant     Date Fair   Shares  Value   (in thousands)  Per Share Unvested, May 31, 2024  294  $20.08 Granted (1)  555   15.23 Vested  (32)  12.42 Forfeited  -   - Unvested, August 30, 2024  817  $17.09 Granted (1)  10   13.01 Vested  (47)  15.33 Forfeited  -   - Unvested, November 29, 2024  780  $17.14  (1)Includes 262,000 performance-based awards, of which 80,000 performance-based awards have target achievement goals whereby the grantee can earn up to 200% of the original award (up to 161,000 shares) if the maximum target goals are met. The remaining awards are earned at 100% if the target goals are achieved  There were no options granted during the three and six months ended November 29, 2024 and November 30, 2023.  During the six months ended November 29, 2024 and November 30, 2023, the Company issued 41,000 and 24,000 shares, respectively, under the ESPP. As of November 29, 2024 and November 30, 2023, ESPP shares of