AEHR TEST SYSTEMS — Director's Dealing 2014

Jul 14, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AEHR TEST SYSTEMS (AEHR)
CIK: 0001040470
Period of Report: 2014-07-10

Reporting Person: ANDERSON ROBERT R (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-07-10	Common Stock	M	5000	$1.42	Acquired	219258	Direct
2014-07-10	Common Stock	M	10000	$1.32	Acquired	229258	Direct
2014-07-10	Common Stock	M	6424	$0.8	Acquired	235682	Direct
2014-07-10	Common Stock	M	10000	$0.97	Acquired	245682	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-07-10	Non-Qualified Stock Option (right to buy)	$0.8	M	6424	Disposed	2019-11-28	Common Stock (6424)	Direct
2014-07-10	Non-Qualified Stock Option (right to buy)	$0.97	M	10000	Disposed	2020-01-22	Common Stock (10000)	Direct
2014-07-10	Non-Qualified Stock Option (right to buy)	$1.32	M	10000	Disposed	2015-10-27	Common Stock (10000)	Direct
2014-07-10	Non-Qualified Stock Option (right to buy)	$1.42	M	5000	Disposed	2014-10-27	Common Stock (5000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	50000	Indirect
Common Stock	200000	Indirect

Footnotes

F1: One sixth (1/6) of the total number of shares became exercisable on this date and an additional one sixth (1/6) of the total number of shares became exercisable each month thereafter.

F2: 2,500 shares became exercisable on this date and an additional one ninth (1/9) of 7,500 shares became exercisable each month thereafter.

F3: One twelfth (1/12) of the total number of shares became exercisable on this date and an additional one twelfth (1/12) of the total number of shares became exercisable each month thereafter.