AXT INC — Director's Dealing 2007

Aug 27, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AXT INC (AXTI)
CIK: 0001051627
Period of Report: 2007-08-20

Reporting Person: Zhang Davis (President , JV Operations)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-08-20	Common Stock	M	12500	$2.19	Acquired	101352	Direct
2007-08-20	Common Stock	S	12500	$4.7	Disposed	88852	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-08-20	Option to Purchase Common Stock	$2.19	M	12500	Disposed	2012-11-22	Common Stock (12500)	Direct

Footnotes

F1: 16,000 shares held by Mr. Zhang's minor children.