AMERICAN SUPERCONDUCTOR CORP /DE/ — Director's Dealing 2008

May 16, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AMERICAN SUPERCONDUCTOR CORP /DE/ (AMSC)
CIK: 0000880807
Period of Report: 2008-05-14

Reporting Person: YUREK GREGORY J (Director, Chairman, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-05-14	Common Stock	M	7959	$12.563	Acquired	0	Direct
2008-05-15	Common Stock	A	60000	—	Acquired	178044	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-05-14	Stock Option (right to buy)	$12.563	M	7959	Disposed	2008-05-14	Common Stock (7959)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	752	Indirect

Footnotes

F1: 50,000 shares shall vest in their entirety on May 15, 2011. 10,000 shares only vest upon completion of four consecutive quarters of GAAP profitability and if the performance objective is not met, the shares will be forfeited to the company on May 15, 2011.

F2: Following all the transactions reported on this Form 4, the reporting person holds 178,044 shares directly.

F3: Following all the transactions reported on this Form 4, the reporting person holds 752 shares indirectly through the company's 401(k) plan as of March 31, 2008.

F4: The option was fully vested as of May 14, 2003.