0001040470-15-000066.txt : 20150908 0001040470-15-000066.hdr.sgml : 20150907 20150908161338 ACCESSION NUMBER: 0001040470-15-000066 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20150902 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20150908 DATE AS OF CHANGE: 20150908 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AEHR TEST SYSTEMS CENTRAL INDEX KEY: 0001040470 STANDARD INDUSTRIAL CLASSIFICATION: INSTRUMENTS FOR MEAS & TESTING OF ELECTRICITY & ELEC SIGNALS [3825] IRS NUMBER: 942424084 STATE OF INCORPORATION: CA FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-22893 FILM NUMBER: 151096993 BUSINESS ADDRESS: STREET 1: 400 KATO TERRACE CITY: FREMONT STATE: CA ZIP: 94539 BUSINESS PHONE: 5106239400 MAIL ADDRESS: STREET 1: 400 KATO TERRACE CITY: FREMONT STATE: CA ZIP: 94539 8-K 1 e8k090815.txt FORM 8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (date of earliest event reported): September 2, 2015 Aehr Test Systems (Exact name of Registrant as specified in its charter) California 000-22893 94-2424084 (State or other jurisdiction of [Commission File Number] (I.R.S. Employer incorporation or organization) Identification Number) 400 Kato Terrace Fremont, California 94539 (Address of principal executive offices, including zip code) 510-623-9400 (Registrant's telephone number, including area code) N/A (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On September 2, 2015, the Board of Directors (the "Board") of Aehr Test Systems (the "Company") appointed Kenneth B. Spink as the Company's Vice President of Finance, Chief Financial Officer and Secretary, effective September 9, 2015 upon the retirement of Gary L. Larson. Mr. Spink, age 54, has served as the Company's Corporate Controller since he joined the Company in 2008. Mr. Spink has more than 30 years of accounting and finance experience in the high tech, public accounting, leasing, service and construction industries. He was previously Corporate Accounting Manager at Applied Materials, and began his career with accounting firm Deloitte. Mr. Spink received his Bachelor of Science in Business Administration degree from California State University, Hayward. Mr. Spink does not have a family relationship with any member of the Board or any executive officer of the Company, and Mr. Spink has not been a participant or had an interest in any transaction with the Company that is reportable under Item 404(a) of Regulation S-K. A copy of the press release announcing Mr. Spink's appointment is attached hereto as Exhibit 99.1. Compensatory Arrangement with Kenneth B. Spink In connection with the appointment of Mr. Spink to his position as the Company's Vice President of Finance, Chief Financial Officer and Secretary, Mr. Spink will receive, among other things, an annual base salary of $190,000 and will be eligible to receive an annual bonus with a target level of 20% of his base salary. In addition, the Board approved a grant of a stock option to Mr. Spink to purchase 29,000 shares of the Company's common stock under the Company's 2006 Equity Incentive Plan, subject to vesting over a four (4) year period at a rate of one forty-eighth (1/48th) per month. Mr. Spink will also enter into the Company's standard indemnification agreement in the form previously approved by the Board. Item 9.01 Financial Statements and Exhibits. (d) Exhibits. 99.1 Press Release dated September 4, 2015. 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 By: /s/ Gary L. Larson ------------------------- Gary L. Larson Vice President of Finance and Chief Financial Officer Date: September 8, 2015 EXHIBIT INDEX 99.1 Press Release dated September 4, 2015. EX-99.1 2 ex99.txt EXHIBIT 99.1 Exhibit 99.1 [LOGO]AEHR TEST SYSTEMS FOR IMMEDIATE RELEASE Aehr Test Systems Investor Relations Contact: Gary Larson Todd Kehrli or Jim Byers Chief Financial Officer MKR Group Inc. (510) 623-9400 x321 (323) 468-2300 aehr@mkr-group.com AEHR TEST SYSTEMS APPOINTS KENNETH B. SPINK TO CHIEF FINANCIAL OFFICER Fremont, CA (September 4, 2015) - Aehr Test Systems (Nasdaq: AEHR), a worldwide supplier of semiconductor test and burn-in equipment, today announced the appointment of Corporate Controller Kenneth B. Spink as Chief Financial Officer and VP of Finance, effective September 9, 2015. He will succeed Gary Larson, whose previously announced planned retirement after 24 years with the company is effective the same day. Mr. Larson will continue to support Mr. Spink on a limited basis through the end of the calendar year to ensure a seamless transition. "Ken is well prepared and has done an excellent job transitioning to assume the responsibilities of CFO, and it's clear that he is the right person to be promoted directly to CFO of the company," said Gayn Erickson, CEO of Aehr Test. "We are fortunate to have someone of Ken's experience and expertise and I look forward to working with him as we focus on the new potential significant opportunities we are seeing for Aehr Test's current and next generation products." Mr. Spink has served at Aehr Test for seven years and has more than 30 years of accounting and finance experience in the high tech, public accounting, leasing, service, and construction industries. He was previously Corporate Accounting Manager at Applied Materials, the global leader in the semiconductor capital equipment industry, and began his career with accounting firm Deloitte. About Aehr Test Systems Headquartered in Fremont, California, Aehr Test Systems is a worldwide provider of test systems for burning-in and testing logic and memory integrated circuits and has an installed base of more than 2,500 systems worldwide. Increased quality and reliability needs of the Automotive and Mobility integrated circuit markets are driving additional test requirements, capacity needs and opportunities for Aehr Test products in package and wafer level test. Aehr Test has developed and introduced several innovative products, including the ABTSTM and FOXTM families of test and burn-in systems and the DiePak(R) carrier. The ABTS system is used in production and qualification testing of packaged parts for both lower-power and higher-power logic as well as all common types of memory devices. The FOX system is a full wafer contact test and burn-in system used for burn-in and functional test of complex devices, such as leading-edge memories, digital signal processors, microprocessors, microcontrollers and systems-on-a-chip. The DiePak carrier is a reusable, temporary package that enables IC manufacturers to perform cost-effective final test and burn-in of bare die. For more information, please visit Aehr Test's website at www.aehr.com.