AEHR TEST SYSTEMS

Change in Fiscal Year

On July 11, 2024, the Board of Directors approved a change in the Company’s fiscal year-end from May 31 to a 4-4-5 fiscal calendar ending on the Friday closest to May 31. The change is being made to better align financial reporting with operational cycles.

The change in fiscal year did not impact the Company’s previously issued consolidated financial statements or tax reporting. The new fiscal year began on June 1, 2024, and ended on May 30, 2025, following the 4-4-5 calendar format.

Amended and Restated Bylaws

On February 24, 2025, the Board of Directors of the Company approved and adopted the Amended and Restated Bylaws of the Company (the “Amended and Restated Bylaws”), effective immediately. Among other things, the Amended and Restated Bylaws (i) added advance notice provisions for the nomination of directors or the proposal of other business at stockholder meetings, and (ii) made other administrative, modernizing, clarifying, and conforming changes. These changes were previously disclosed in a Form 8-K filed on February 28, 2025. Refer to the 8-K for further details.

Insider Adoption or Termination of Trading Arrangements

On May 14, 2025, Gayn Erickson, President and Chief Executive Officer, adopted a Rule 10b5-1 trading arrangement that is intended to satisfy the affirmative defense of Rule 10b5-1(c) for the sale of up to 291,088 shares of the Company’s common stock until May 14, 2027.