AEHR TEST SYSTEMS — Director's Dealing 2017

Nov 7, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AEHR TEST SYSTEMS (AEHR)
CIK: 0001040470
Period of Report: 2017-11-06

Reporting Person: ELDER WILLIAM W R (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-11-06	Common Stock	M	12985	$1.77	Acquired	28744	Direct
2017-11-06	Common Stock	M	15183	$2.063	Acquired	43927	Direct
2017-11-06	Common Stock	S	28168	$3.511	Disposed	15759	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-11-06	Non-Qualified Stock Option (right to buy)	$1.77	M	12985	Disposed	2020-07-17	Common Stock (12985)	Direct
2017-11-06	Non-Qualified Stock Option (right to buy)	$2.063	M	15183	Disposed	2021-10-21	Common Stock (15183)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3000	Indirect
Common Stock	111800	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.

F2: One twelfth (1/12) of the total number of shares became exercisable on this date and an additional one twelfth (1/12) of the total number of shares became exercisable each month thereafter.