AEHR TEST SYSTEMS — Director's Dealing 2013

Nov 1, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AEHR TEST SYSTEMS (AEHR)
CIK: 0001040470
Period of Report: 2013-10-31

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-10-31	Common Stock	M	10341	$2.25	Acquired	110599	Direct
2013-10-31	Common Stock	M	1659	$2.25	Acquired	112258	Direct
2013-10-31	Common Stock	S	5200	$2.56	Disposed	107058	Direct
2013-10-31	Common Stock	S	6800	$2.55	Disposed	100258	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-10-31	Incentive Stock Option (right to buy)	$2.25	M	10341	Disposed	2013-11-13	Common Stock (10341)	Direct
2013-10-31	Non-Qualified Stock Option (right to buy)	$2.25	M	1659	Disposed	2013-11-13	Common Stock (1659)	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.