AEHR TEST SYSTEMS — Director's Dealing 2010

Apr 30, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AEHR TEST SYSTEMS (AEHR)
CIK: 0001040470
Period of Report: 2010-04-29

Reporting Person: LARSON GARY L (V.P.FINANCE & CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-04-29	Common Stock	M	2000	$2.88	Acquired	71539	Direct
2010-04-29	Common Stock	S	2000	$3.14	Disposed	69539	Direct
2010-04-30	Common Stock	M	2000	$2.88	Acquired	71539	Direct
2010-04-30	Common Stock	M	200	$2.88	Acquired	71739	Direct
2010-04-30	Common Stock	M	1800	$2.88	Acquired	73539	Direct
2010-04-30	Common Stock	S	2000	$3.09	Disposed	71539	Direct
2010-04-30	Common Stock	S	200	$2.97	Disposed	71339	Direct
2010-04-30	Common Stock	S	1800	$2.95	Disposed	69539	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-04-29	Incentive Stock Option (right to buy)	$2.88	M	2000	Disposed	2010-06-26	Common Stock (2000)	Direct
2010-04-30	Incentive Stock Option (right to buy)	$2.88	M	2000	Disposed	2010-06-26	Common Stock (2000)	Direct
2010-04-30	Incentive Stock Option	$2.88	M	200	Disposed	2010-06-26	Common Stock (200)	Direct
2010-04-30	Incentive Stock Option	$2.88	M	1800	Disposed	2010-06-26	Common Stock (1800)	Direct

Footnotes

F1: One forty-eighth (1/48) of the total number of shares became exercisable on this date and an additional one forty-eighth (1/48) of the total number of shares became exercisable each month thereafter.

F2: Includes (a) 3,000 shares acquired under the Aehr Test Employee Stock Purchase Plan (the "ESPP") on April 1, 2009 and (b) 3,000 shares acquired under the ESPP on April 1, 2010.