AEHR TEST SYSTEMS — Director's Dealing 2014

Aug 5, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AEHR TEST SYSTEMS (AEHR)
CIK: 0001040470
Period of Report: 2014-08-04

Reporting Person: ELDER WILLIAM W R (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-08-04	Common Stock	M	617	$0.75	Acquired	105617	Direct
2014-08-04	Common Stock	S	617	$2.76	Disposed	105000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-08-04	Non-Qualified Stock Option (right to buy)	$0.75	M	617	Disposed	2019-01-31	Common Stock (617)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3000	Indirect
Common Stock	1800	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.