APPLIED OPTOELECTRONICS, INC. — Director's Dealing 2017

May 11, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: APPLIED OPTOELECTRONICS, INC. (AAOI)
CIK: 0001158114
Period of Report: 2017-05-09

Reporting Person: Chang Hung-Lun (Fred) (*** See Remarks)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-05-09	Common Stock, $.001 par value	M	768	$6.00	Acquired	46054	Direct
2017-05-09	Common Stock, $.001 par value	M	9232	$7.50	Acquired	55286	Direct
2017-05-09	Common Stock, $.001 par value	S	10000	$59.5013	Disposed	45286	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-05-09	Incentive Stock Option (Right to Buy)	$6.00	M	768	Disposed	2022-05-22	Common Stock, $0.001 par value (768)	Direct
2017-05-09	Incentive Stock Option (Right to Buy)	$7.50	M	9232	Disposed	2023-01-18	Common Stock, $0.001 par value (9232)	Direct

Footnotes

F1: The shares were sold in multiple transactions on May 9, 2017 at an actual sale price ranging from $59.00 to $60.00 per share. The price reported reflects the weighted average sale price for the transactions. The reporting person undertakes to provide upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.

F2: Option fully vested