SEC FORM 4

SEC FORM 4 SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

YOUNG MORRIS S

(Last)

(First)

(Middle)

4281 TECHNOLOGY DR.

(Street)

FREMONT

94538

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
AXT INC [ AXTI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	CEO

3. Date of Earliest Transaction (Month/Day/Year)
12/04/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	12/04/2025		M		32,680	A	$3.06⁽¹⁾	2,494,040	D
Common Stock	12/04/2025		M		17,331	A	$5.77⁽²⁾	2,511,371	D
Common Stock	12/04/2025		M		19,193	A	$5.21⁽³⁾	2,530,564	D
Common Stock	12/04/2025		S		35,000	D	$12.05⁽⁴⁾	2,495,564	I	By Young Family Trust DTD

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option (Right to Buy)	$3.06	12/04/2025		M			32,680⁽⁵⁾	11/06/2020	11/06/2029	Common Stock	32,680	$0	589,273	D
Stock Option (Right to Buy)	$5.77	12/04/2025		M			17,331⁽⁶⁾	11/05/2019	11/05/2028	Common Stock	17,331	$0	571,942	D
Stock Option (Right to Buy)	$5.21	12/04/2025		M			19,193⁽⁷⁾	10/28/2017	10/28/2026	Common Stock	19,193	$0	552,749	D

Explanation of Responses:

1. Exercise of restricted stock awards which were originally granted on 11/06/2019 and became first exercisable on 11/06/2020.

2. Exercise of restricted stock awards which were originally granted on 11/05/2018 and became first exercisable on 11/05/2019.

3. Exercise of restricted stock awards which were originally granted on 10/28/2016 and became first exercisable on 10/28/2017.

4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $11.92 to $12.13,inclusive. Upon request by the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate transaction.

5. Exercise of restricted stock awards which were originally granted on 11/06/2019 and became first exercisable on 11/06/2020.

6. Exercise of restricted stock awards which were originally granted on 11/05/2018 and became first exercisable on 11/05/2019.

7. Exercise of restricted stock awards which were originally granted on 10/28/2016 and became first exercisable on 10/28/2017.

	/s/ Jeff Sensiba, Attorney-in-Fact	12/08/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

CEO Young Morris S exercised 69,204 shares at a strike of $4.33 and sold $421,750 worth of shares (35,000 units at $12.05), increasing direct ownership by 3% to 2,530,564 units (SEC Form 4)