DANESH FARIBA 4

What Happened

• Fariba Danesh, a director of Aehr Test Systems (AEHR), exercised stock options to acquire 8,000 shares at $2.25 per share (cost $18,000) on 2026-04-16 and sold 8,000 shares in an open-market transaction the same day at $82.63 per share (gross proceeds $661,040). The filing also reports a derivative conversion/disposition of 8,000 units at $0.00 related to the exercise.

Key Details

• Transaction date: 2026-04-16; Form 4 filed: 2026-04-17 (timely).
• Exercise: 8,000 shares @ $2.25 = $18,000 (code M).
• Sale: 8,000 shares @ $82.63 = $661,040 (code S).
• Derivative reported disposed: 8,000 @ $0.00 (listed as related to the conversion/exercise).
• Shares owned after the transaction: not specified in the filing; filing footnote notes reported amounts include shares subject to unvested restricted stock units (F1).
• No 10b5-1 plan or late filing flag reported.

Context

• This is a common pattern where an insider exercises options and immediately sells the resulting shares (i.e., a cashless-style transaction), producing gross proceeds far above the exercise cost. The filing is factual and does not state the insider’s motivation; purchases are often considered more informative than routine option exercises followed by sales.