SemiLEDs Corp — Director's Dealing 2020

May 28, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SemiLEDs Corp (LEDS)
CIK: 0001333822
Period of Report: 2020-05-26

Reporting Person: Simplot Taiwan Inc. (10% Owner)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-05-26	Convertible Unsecured Promissory Note	$3.00	C		Disposed		Common Stock (100000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1489934	Direct

Footnotes

F1: On February 7, 2020, J.R. Simplot Company, the sole owner of Simplot Taiwan Inc., assigned a Convertible Unsecured Promissory Note initially issued to J.R. Simplot Company in the original principal amount of $1,500,000 (the "Note"), to Simplot Taiwan Inc. for no consideration. The Note is convertible into Common Stock at any time at a conversion price of $3.00 per share. On May 26, 2020, Simplot Taiwan Inc. converted $300,000 of the Note into 100,000 shares of Common Stock. Previously, Simplot Taiwan Inc. had included the 500,000 shares into which the Note was convertible in its total shares of Common Stock owned directly, as such shares could be acquired within 60 days, along with 989,934 shares of Common Stock owned of record. As of this filing, the shares owned directly consists of 1,089,934 shares of Common Stock owned of record and 400,000 shares of Common Stock into which the Note is convertible.

F2: The Note has no expiration date.

F3: Consists of the number of shares into which the remaining principal balance of the Note is convertible following the conversion described above. Accordingly, J Simplot Taiwan Inc. may be deemed to have voting and investment power over the shares into which such Note is convertible.