SCHEDULE 13G/A

AXT Inc

Common Stock, par value $0.001 per share · CUSIP: 00246W103

Event date: 2025-03-31

Reporting persons may disclose overlapping interests. Their amounts are shown individually and are not added into a filing total.

Filing-level shares

Unavailable

Percent of class

Unavailable

• Cleveland Capital Management, L.L.C.

  Shares: 3,050,000.00 · Class: 6.7%

• Cleveland Capital, L.P.

  Shares: 3,050,000.00 · Class: 6.7%

• Wade Massad

  Shares: 3,161,000.00 · Class: 6.9%

• John Shiry

  Shares: 3,050,000.00 · Class: 6.7%

Amounts are as disclosed in this filing. Schedule type alone does not establish investment intent.