AEHR TEST SYSTEMS — Director's Dealing 2015

May 19, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AEHR TEST SYSTEMS (AEHR)
CIK: 0001040470
Period of Report: 2015-05-15

Reporting Person: SANO KUNIO (President of Aehr Test Japan)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-05-15	Common Stock	M	25000	$1.95	Acquired	25000	Direct
2015-05-15	Common Stock	S	3800	$2.23	Disposed	21200	Direct
2015-05-15	Common Stock	S	15300	$2.24	Disposed	5900	Direct
2015-05-15	Common Stock	S	3300	$2.25	Disposed	2600	Direct
2015-05-15	Common Stock	S	500	$2.27	Disposed	2100	Direct
2015-05-15	Common Stock	S	2100	$2.32	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-05-15	Incentive Stock Option (right to buy)	$1.95	M	25000	Disposed	2015-06-29	Common Stock (25000)	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.