AEHR TEST SYSTEMS — Director's Dealing 2014

May 16, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AEHR TEST SYSTEMS (AEHR)
CIK: 0001040470
Period of Report: 2014-05-15

Reporting Person: POSEDEL RHEA J (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-05-15	Common Stock	M	100	$0.85	Acquired	44153	Direct
2014-05-15	Common Stock	S	100	$1.99	Disposed	44053	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-05-15	Non-Qualified Stock Option (right to buy)	$0.85	M	100	Disposed	2014-06-30	Common Stock (100)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	966381	Indirect

Footnotes

F1: One twenty-fourth (1/24) of the total number of shares became exercisable on this date and an additional one twenty-fourth (1/24) of the total number of shares became exercisable each month thereafter.