AEHR TEST SYSTEMS — Director's Dealing 2021

Oct 13, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AEHR TEST SYSTEMS (AEHR)
CIK: 0001040470
Period of Report: 2021-10-11

Reporting Person: Brannan Michael A. (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-10-11	Common Stock	M	14000	$1.2200	Acquired	28826	Direct
2021-10-11	Common Stock	S	17000	$18.8000	Disposed	11826	Direct
2021-10-12	Common Stock	M	14125	$1.2200	Acquired	25951	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-10-11	Incentive Stock Option (right to buy)	$1.2200	M	14000	Disposed	2027-03-16	Common Stock (14000)	Direct
2021-10-12	Incentive Stock Option (right to buy)	$1.2200	M	14125	Disposed	2027-03-16	Common Stock (14125)	Direct

Footnotes

F1: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $18.35 to $19.67, inclusive. The reporting person undertakes to provide to Aehr Test Systems, any security holder of Aehr Test Systems, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth above.

F2: The amount reported includes shares subject to unvested restricted stock units.

F3: 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.