DANESH FARIBA 4

What Happened
Danesh Fariba, a director of Aehr Test Systems (AEHR), reported multiple transactions: he sold a total of 10,500 shares (3,500 shares on 2026-04-10 at $70.05 and 7,000 shares on 2026-04-13 at $71.49) for combined proceeds reported as $745,589. On 2026-04-13 he also exercised or converted derivative instruments: acquired 7,000 shares by exercise at $2.25 per share (cost $15,750) and reported a separate derivative conversion/disposition of 7,000 shares at $0.00. The sales represent cashing out of shares (including shares related to derivative activity), while the exercise shows option/derivative activity rather than a long-term buy-and-hold purchase.

Key Details

• Transaction dates and prices:
  • 2026-04-10: Sale of 3,500 shares @ $70.05 — proceeds reported $245,158.
  • 2026-04-13: Exercise (acquired) 7,000 shares @ $2.25 — cost $15,750.
  • 2026-04-13: Sale of 7,000 shares @ $71.49 — proceeds reported $500,431.
  • 2026-04-13: Derivative conversion/disposition of 7,000 shares @ $0.00 — $0.
• Total shares sold: 10,500; total sales proceeds reported: $745,589.
• Shares owned after the transactions: not disclosed in the Form 4 filing.
• Footnote: the filing states the amounts include shares subject to unvested restricted stock units (RSUs).
• Filing timeliness: Form 4 was filed on 2026-04-13 for transactions on 2026-04-10 and 2026-04-13 (no late filing indicated).

Context
The pattern shows option/derivative activity with an immediate sale of shares: Fariba exercised or converted derivatives and sold shares the same day, which is commonly a cashless exercise or disposition to cover option costs/taxes rather than a fresh bullish purchase. The reported derivative conversion at $0.00 and the footnote point to RSU-related reporting. Sales by insiders can be routine (diversification, option exercises, tax obligations) and don’t by themselves indicate the insider’s view of the company’s prospects.