AEHR TEST SYSTEMS — Director's Dealing 2016

Nov 1, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AEHR TEST SYSTEMS (AEHR)
CIK: 0001040470
Period of Report: 2016-10-31

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-10-31	Common Stock	M	3440	$1.25	Acquired	3440	Direct
2016-10-31	Common Stock	S	2500	$3.46	Disposed	940	Direct
2016-10-31	Common Stock	S	788	$3.47	Disposed	152	Direct
2016-10-31	Common Stock	S	152	$3.48	Disposed	0	Direct
2016-11-01	Common Stock	M	6560	$1.25	Acquired	6560	Direct
2016-11-01	Common Stock	S	1560	$3.47	Disposed	5000	Direct
2016-11-01	Common Stock	S	2500	$3.48	Disposed	2500	Direct
2016-11-01	Common Stock	S	2500	$3.49	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-10-31	Incentive Stock Option (right to buy)	$1.25	M	3440	Disposed	2018-07-08	Common Stock (3440)	Direct
2016-11-01	Incentive Stock Option (right to buy)	$1.25	M	6560	Disposed	2018-07-08	Common Stock (6560)	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.