AXT INC — Director's Dealing 2007

Oct 23, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AXT INC (AXTI)
CIK: 0001051627
Period of Report: 2007-10-22

Reporting Person: Zhang Davis (President , JV Operations)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-10-22	Stock Options (right to buy)	$6.13	A	14300	Acquired	2017-10-22	Common Stock (14300)	Direct

Footnotes

F1: Vesting of each option commenced on October 22, 2007, the date of grant, and continues over four years at the rate of 1/4 on the one-year anniversary of the date of grant, and 1/48 per month thereafter

F2: Based on average stock price for the fifteen trading days prior to the date of grant, ending two calendar days prior to grant.