ADVANCED ENERGY INDUSTRIES INC — Director's Dealing 2011

May 2, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ADVANCED ENERGY INDUSTRIES INC (AEIS)
CIK: 0000927003
Period of Report: 2011-04-28

Reporting Person: WASSERMAN YUVAL (President & COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-04-28	Common Stock	A	2250	$0.00	Disposed	19678	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-04-28	Employee Stock Option (right to buy)	$14.21	A	15750	Acquired	2021-04-28	Common Stock (15750)	Direct

Footnotes

F1: The employee restricted stock units granted April 28, 2011 will vest in four equal installments beginning on the first anniversary of the grant date.

F2: Represents 19,678 shares of Restricted Stock Units. As of the reporting date, 2,614 are vested and sellable.

F3: The employee stock options granted on April 28, 2011 will vest in four equal annual installments beginning on the first anniversary of the grant date.

F4: Mr. Wasserman has stock options (right to buy) of 257,000 of common stock.