Company: AEHR
Filing Date: 2025-09-10
Form Type: DEF 14A
Source: 0001654954-25-010620
Chunk: 62

Company: AEHR TEST SYSTEMS
Filing Date: 2025-09-10
Form: DEF 14A
Chunk 62
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 which may include Baillie Gifford Overseas Limited, on behalf of investment advisory clients. The principal business address is Calton Square, 1 Greenside Row, Edinburgh, EH1 3AN, Scotland, UK.                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| (15) | Based on a Schedule 13G filed with the SEC on May 7, 2025. AWM Investment Company, Inc., a Delaware corporation (“AWM”), is the investment adviser to Special Situations Fund III QP, L.P. (“SSFQP”), Special Situations Cayman Fund, L.P. (“SSCF”), Special Situations Technology Fund, L.P. (“TECH”) and Special Situations Technology Fund II, L.P. (“TECH II,” together with SSFQP, SSCF and TECH, the “Funds”). AWM beneficially owns 1,587,936 shares of common stock with 431,238 of such shares held directly by SSFQP, 125,152 of such shares held directly by SSCF, 173,397 of such shares held directly by TECH and 858,149 of such shares held directly by TECH II. As the investment adviser to the Funds, AWM holds sole voting and investment power over these shares. The principal business address for each of these persons is 527 Madison Avenue, Suite 2600, New York, NY 10022.                                                                                                                                                                                                                                        |

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<div align='center'>REPORT OF THE AUDIT COMMITTEE</div>

The Audit Committee of the Board serves as the representative of the Board for general oversight of the Company’s financial accounting and reporting system of internal control, audit process and process for monitoring compliance with laws and regulations. The Audit Committee evaluates the scope of the annual audit, reviews audit results, consults with management and the Company's independent registered public accounting firm prior to the presentation of financial statements to shareholders and, as appropriate, initiates inquiries into aspects of the Company's financial affairs. The Audit Committee discusses with management at each Audit Committee meeting the Company’s processes regarding cybersecurity, including any attempted breaches, and ongoing improvements to our cybersecurity defenses.

The Company’s management has primary responsibility for preparing the Company’s consolidated financial statements and for the Company’s financial reporting process. The Company’s independent registered public accounting firm, BPM LLP, is responsible for expressing an opinion on the conformity of the Company’s audited consolidated financial statements to accounting principles generally accepted in the United States of America. The Audit Committee has reviewed and discussed with management the aud