Form 4: Aehr Test Systems CEO Gayn Erickson Reports Stock Transactions to SEC
SEC Form 4 Filing
Aehr Test Systems CEO Gayn Erickson reports the withholding of shares to cover tax obligations related to vesting restricted stock units, according to a Form 4 filing with the SEC.
Summary
- Gayn Erickson, CEO of Aehr Test Systems, filed a Form 4 with the SEC detailing changes in beneficial ownership of the company's stock.
- The report indicates that shares were withheld to satisfy tax obligations upon the vesting of restricted stock units and restricted shares.
- On July 13, 2024, 1,154 shares were withheld at a price of $16.43.
- On July 14, 2024, 3,570 shares were withheld at a price of $16.43.
- Following these transactions, Erickson directly owns 193,235 shares and indirectly owns 288,444 shares through a trust.
- The filing also includes a power of attorney document, effective June 2, 2023, authorizing Chris Siu, Adil Engineer, and Vernon Rogers to execute and file Forms 3, 4, and 5 on Erickson's behalf.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing related to stock transactions for tax purposes, indicating a neutral sentiment.
Industry Context
Form 4 filings are a routine part of compliance for company insiders and provide transparency into their transactions in the company's stock. This filing indicates standard tax-related withholding upon vesting of equity awards.
Stakeholder Impact
- The transactions reported in the Form 4 filing have a minimal direct impact on stakeholders, as they relate to tax obligations of the CEO.
Key Dates
| Date | Description |
|---|---|
| 2023-06-02 | Date of Power of Attorney execution, authorizing Chris Siu, Adil Engineer, and Vernon Rogers to act on behalf of Gayn Erickson for Section 16 filings. |
| 2024-07-13 | Date of transaction where 1,154 shares of common stock were withheld to satisfy tax obligations at $16.43 per share. |
| 2024-07-14 | Date of transaction where 3,570 shares of common stock were withheld to satisfy tax obligations at $16.43 per share. |
| 2024-07-16 | Date of signature for the Form 4 filing. |
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