Vanguard disaggregates holdings after realignment (AEHR) — subsidiary reporting updated

Rhea-AI Filing Summary

The Vanguard GroupSchedule 13G reporting zero shares beneficially owned of Aehr Test Systems Common Stock as of 03/13/2026. The amendment explains an internal realignment effective 01/12/2026 that disaggregated certain subsidiaries and business divisions for reporting under SEC Release No. 34-39538.

The filing states Vanguard’s subsidiaries now report separately and that Vanguard no longer is deemed to have beneficial ownership of securities held by those entities.

Insights

Institutional Ownership Analyst

Vanguard reports no beneficial ownership after internal realignment.

The filing documents that, following an internal reorganization on 01/12/2026, certain Vanguard subsidiaries report holdings separately per SEC Release No. 34-39538. The Schedule 13G/A lists Amount beneficially owned: 0 and Percent of class: 0% as of 03/13/2026.

Practical effect: holdings previously aggregated under The Vanguard Group are now disaggregated among affiliates. Subsequent filings by the reporting subsidiaries may show beneficial positions; review future beneficial-ownership amendments for those entities.

Compliance & SEC Reporting Specialist

Disclosure aligns with SEC release permitting disaggregation of aggregated holdings.

The amendment cites SEC Release No. 34-39538 and states Vanguard no longer is deemed to beneficially own securities held by restructured subsidiaries. The filing includes a signed certification by Vanguard's Head of Global Fund Administration on 03/26/2026.

For compliance: track separate Schedule 13G/A or 13D/F filings from the named subsidiaries or business divisions to see any transferred reporting obligations.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 03/26/2026 - 03:12 PM Learn about SEC filing dates

FAQ

Does Vanguard own any AEHR shares after this amendment?

No. The Schedule 13G/A states Amount beneficially owned: 0 and Percent of class: 0% as reported on 03/13/2026. The filing attributes this to an internal realignment effective 01/12/2026.

What caused Vanguard to report zero ownership for AEHR?

An internal realignment on 01/12/2026 led Vanguard to disaggregate reporting among subsidiaries. The filing cites SEC Release No. 34-39538 as the basis for separate reporting by those entities.

Will other Vanguard entities file ownership reports for AEHR?

Possibly. The amendment states certain subsidiaries now report beneficial ownership separately. Related subsidiaries or business divisions may file their own Schedule 13G/A or 13D filings to reflect any holdings.

What date does the filing use for the reported ownership position?

The Schedule 13G/A lists the reporting date as 03/13/2026 and includes a signature dated 03/26/2026 from Vanguard's Head of Global Fund Administration, certifying the amendment.

Does this filing change who receives dividends or sale proceeds for AEHR shares?

The filing states Vanguard, including its managed accounts, has the right to receive or direct dividends or sale proceeds for the securities reported; however, it also states no other person's interest exceeds 5% in the reported holdings.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)

Aehr Test Systems

(Name of Issuer)

Common Stock

(Title of Class of Securities)

(CUSIP Number)

03/13/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP No.

1

Names of Reporting Persons

The Vanguard Group

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

PENNSYLVANIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0 %

12

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person: On January 12, 2026, The Vanguard Group, Inc. went through an internal realignment. In accordance with SEC Release No. 34-39538 (January 12, 1998), certain subsidiaries or business divisions of subsidiaries of The Vanguard Group, Inc., that formerly had, or were deemed to have, beneficial ownership with The Vanguard Group, Inc., will report beneficial ownership separately (on a disaggregated basis) from The Vanguard Group, Inc. in reliance on such release. These subsidiaries and/or business divisions pursue the same investment strategies as previously pursued by The Vanguard Group, Inc. prior to the realignment. Further in accordance with SEC Release No. 34-39538 (January 12, 1998), The Vanguard Group, Inc. no longer has, or is deemed to have, beneficial ownership over securities beneficially owned by such subsidiaries and/or business divisions.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Aehr Test Systems
(b)	Address of issuer's principal executive offices: 400 Kato Terrace, Fremont, CA, 94539
Item 2.
(a)	Name of person filing: The Vanguard Group
(b)	Address or principal business office or, if none, residence: 100 Vanguard Blvd.,, Malvern, PA, 19355
(c)	Citizenship: PA
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.:
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 0
(b)	Percent of class: 0 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The Vanguard Group, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein.No one other person's interest in the securities reported herein is more than 5%.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

The Vanguard Group

Signature:	Ashley Grim
Name/Title:	Head of Global Fund Administration
Date:	03/26/2026