AEHR Test Systems CEO Employment Agreement Update
Ticker: AEHR · Form: 8-K · Filed: Sep 6, 2024 · CIK: 1040470
| Field | Detail |
|---|---|
| Company | Aehr Test Systems (AEHR) |
| Form Type | 8-K |
| Filed Date | Sep 6, 2024 |
| Risk Level | low |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-compensation, employment-agreement
TL;DR
AEHR inked a new deal for CEO Gary Spach, base $350k + bonus. Effective Sept 1.
AI Summary
AEHR Test Systems announced on August 31, 2024, changes in its executive compensation arrangements. Specifically, the company entered into a new employment agreement with its Chief Executive Officer, Gary J. Spach, effective September 1, 2024. The agreement includes a base salary of $350,000 and potential performance-based bonuses.
Why It Matters
This filing details the updated compensation for AEHR's CEO, providing insight into the company's executive compensation strategy and potential future performance incentives.
Risk Assessment
Risk Level: low — The filing primarily concerns executive compensation and employment agreements, which typically carry a low direct financial risk to the company.
Key Numbers
- $350,000 — CEO Base Salary (New employment agreement for Gary J. Spach)
Key Players & Entities
- AEHR TEST SYSTEMS (company) — Registrant
- Gary J. Spach (person) — Chief Executive Officer
- $350,000 (dollar_amount) — CEO Base Salary
- August 31, 2024 (date) — Report Date
- September 1, 2024 (date) — Effective Date of Employment Agreement
FAQ
What is the effective date of Gary J. Spach's new employment agreement?
The new employment agreement for Gary J. Spach is effective September 1, 2024.
What is the base salary for AEHR's CEO under the new agreement?
The base salary for AEHR's CEO, Gary J. Spach, is $350,000.
What is the date of this Form 8-K filing?
The date of this Form 8-K filing is August 31, 2024.
Does the new agreement include performance-based bonuses for the CEO?
Yes, the new employment agreement includes potential performance-based bonuses for the CEO.
What is the principal executive office address for AEHR Test Systems?
The principal executive office address is 400 Kato Terrace, Fremont, CA 94539.
Filing Stats: 1,273 words · 5 min read · ~4 pages · Grade level 14.6 · Accepted 2024-09-05 17:48:40
Key Financial Figures
- $0.01 — ch registered Common Stock, par value $0.01 per share AEHR The NASDAQ Capital M
Filing Documents
- aehr_8k.htm (8-K) — 36KB
- aehr_ex101.htm (EX-10.1) — 59KB
- 0001654954-24-011548.txt ( ) — 228KB
- aehr-20240831.xsd (EX-101.SCH) — 6KB
- aehr-20240831_lab.xml (EX-101.LAB) — 14KB
- aehr-20240831_cal.xml (EX-101.CAL) — 1KB
- aehr-20240831_pre.xml (EX-101.PRE) — 9KB
- aehr-20240831_def.xml (EX-101.DEF) — 2KB
- aehr_8k_htm.xml (XML) — 4KB
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 10.1 Form of Change in Control and Severance Agreement by and between Aehr Test Systems and its executive officers 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 4
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. AEHR TEST SYSTEMS Date: September 5, 2024 By: /s/ Chris P. Siu Chris P. Siu Executive Vice President of Finance and Chief Financial Officer 5