AXT INC — Director's Dealing 2008

Nov 4, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AXT INC (AXTI)
CIK: 0001051627
Period of Report: 2008-10-31

Reporting Person: Lin Minsheng (Chief Operating Officer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-10-31	Stock Options (right to buy)	$1.59	A	60150	Acquired	2018-10-31	Common Stock (60150)	Direct

Footnotes

F1: Vesting of each option commenced October 31, 2008, 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.