AEHR TEST SYSTEMS — Form 10-K

Aehr Test Systems filed its insider trading policy (Exhibit 19.1), a standard governance document establishing trading restrictions for directors, officers, employees, and agents. The policy prohibits trading on material nonpublic information, short sales, derivatives, hedging, margin accounts, and pledging of securities. Section 16 individuals and key employees must pre-clear trades and trade only within designated quarterly windows (open after earnings announcements through the end of the second calendar month of each quarter). The policy includes Rule 10b5-1 plan provisions, cooling-off periods (90 days for Section 16 individuals, 30 days for others), and identifies potential civil/criminal penalties up to $5M for individuals and $25M for entities.