Company: AEHR
Filing Date: 2025-07-28
Form Type: 10-K
Source: 0001654954-25-008553
Chunk: 384

Company: AEHR TEST SYSTEMS
Filing Date: 2025-07-28
Form: 10-K
Item: Item 2
Chunk 384
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 as of May 30, 2025: (In thousands)   Fiscal year Operating Leases 2026 $1,635 2027  1,350 2028  1,316 2029  1,361 2030  1,341 Thereafter  8,327 Total future minimum operating lease payments  15,330 Less: imputed interest  (4,500)Present value of operating lease liabilities $10,830 

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8. RETIREMENT PLAN The Company maintains a defined contribution savings plan named AEHR Test Systems 401(k) Savings & Retirement Plan (the “401(k) Plan”) to provide retirement savings to all qualified employees of the Company. The 401(k) Plan is intended to be qualified under Section 401(k) of the Internal Revenue Code of 1986, as amended. The 401(k) Plan is funded by voluntary pre-tax contributions from employees. Contributions are invested, as directed by the participant, in investment funds available under the 401(k) Plan.  Effective July 1, 2024, the Company implemented a discretionary matching contribution under its 401(k) Plan. All matching contributions are 100% vested immediately. The Company’s matching contributions to the 401(k) Plan totaled $0.3 million during fiscal 2025. No matching contributions were made during fiscal years 2024 and 2023.

9. COMMITMENTS AND CONTINGENCIES Commitment  Purchase obligations consist of non-cancelable significant contractual obligations. As of May 30, 2025, the Company’s unconditional purchase obligations, which have a remaining term in excess of 12 months, are not material.  Contingencies The Company may, from time to time, be involved in legal proceedings arising in the ordinary course of business. While there can be no assurances as to the ultimate outcome of any litigation involving the Company, management does not believe any pending legal proceedings will result in judgment or settlement that will have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows. On December 3, 2024, a putative shareholder class action lawsuit captioned Lucid Alternative Fund, LP v. Aehr Test Systems, Inc. was filed in the United States District Court for the Northern District of California against the Company. The lawsuit alleged, in part, that the Company and certain of its executives made