AEHR TEST SYSTEMS — Director's Dealing 2015

May 14, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AEHR TEST SYSTEMS (AEHR)
CIK: 0001040470
Period of Report: 2015-05-13

Reporting Person: BUCK CARL N (VP OF MARKETING)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-05-13	Common Stock	M	100	$1.95	Acquired	100	Direct
2015-05-13	Common Stock	S	100	$2.45	Disposed	0	Direct
2015-05-14	Common Stock	M	1687	$1.95	Acquired	1687	Direct
2015-05-14	Common Stock	S	787	$2.4	Disposed	900	Direct
2015-05-14	Common Stock	S	900	$2.39	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-05-13	Incentive Stock Option (right to buy)	$1.95	M	100	Disposed	2015-06-29	Common Stock (100)	Direct
2015-05-14	Incentvie Stock Option (right to buy)	$1.95	M	1687	Disposed	2015-06-29	Common Stock (1687)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	97556	Indirect

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.