AEHR TEST SYSTEMS — Director's Dealing 2023

Aug 2, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AEHR TEST SYSTEMS (AEHR)
CIK: 0001040470
Period of Report: 2023-07-31

Reporting Person: OLIPHANT LAURA (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-07-31	Common Stock	M	7500	$1.6800	Acquired	7500	Direct
2023-07-31	Common Stock	M	2500	$1.3400	Acquired	10000	Direct
2023-07-31	Common Stock	S	10000	$51.6700	Disposed	0	Direct
2023-08-01	Common Stock	S	1008	$52.5000	Disposed	12665	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-07-31	Non-Qualified Stock Option (right to buy)	$1.3400	M	2500	Disposed	2027-10-20	Common Stock (2500)	Direct
2023-07-31	Non-Qualified Stock Option (right to buy)	$1.6800	M	7500	Disposed	2026-07-17	Common Stock (7500)	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 $51.65 to $51.81, 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 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.

F4: 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.