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.