SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

SCHOLL BRENDA M

(Last)

(First)

(Middle)

1625 SHARP POINT DRIVE

(Street)

FORT COLLINS

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
ADVANCED ENERGY INDUSTRIES INC [ AEIS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	SVP and GM Power Systems

3. Date of Earliest Transaction (Month/Day/Year)
02/11/2004

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock								20,292	D
Common Stock								209,728	I	By Spouse

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Employee Stock Option (right to buy)	$8.625							04/23/1998⁽⁴⁾	04/23/2007	Common Stock	2,100		2,100	D
Employee Stock Option (right to buy)	$12.75							01/09/1999⁽¹⁾	01/09/2008	Common Stock	782		2,882	D
Employee Stock Option (right to buy)	$28.1563							02/09/2000⁽¹⁾	02/09/2009	Common Stock	1,000		3,882	D
Employee Stock Option (right to buy)	$43.6875							01/13/2001⁽¹⁾	01/13/2010	Common Stock	2,000		5,882	D
Employee Stock Option (right to buy)	$26.125							02/07/2002⁽¹⁾	02/07/2011	Common Stock	1,250		7,132	D
Employee Stock Option (right to buy)	$28.55							04/11/2002⁽¹⁾	04/11/2011	Common Stock	1,250		8,382	D
Employee Stock Option (right to buy)	$36.49							05/24/2002⁽⁵⁾	05/24/2011	Common Stock	1,000		9,382	D
Employee Stock Option (right to buy)	$32.19							07/11/2002⁽¹⁾	07/11/2011	Common Stock	1,250		10,632	D
Employee Stock Option (right to buy)	$18							10/10/2002⁽¹⁾	10/10/2011	Common Stock	1,250		11,882	D
Employee Stock Option (right to buy)	$24.9							02/12/2003⁽¹⁾	02/12/2012	Common Stock	6,250		18,132	D
Employee Stock Option (right to buy)	$38.55							04/16/2003⁽¹⁾	04/16/2012	Common Stock	6,250		24,382	D
Employee Stock Option (right to buy)	$17.85							07/18/2003⁽¹⁾	07/18/2012	Common Stock	6,250		30,632	D
Employee Stock Option (right to buy)	$7.7							10/17/2003⁽¹⁾	10/17/2012	Common Stock	6,250		36,882	D
Employee Stock Option (right to buy)	$14.5							12/11/2003⁽¹⁾	12/11/2012	Common Stock	10,000		46,882	D
Employee Stock Option (right to buy)	$9.12							02/12/2004⁽¹⁾	02/12/2013	Common Stock	5,000		51,882	D
Employee Stock Option (right to buy)	$7.61							04/16/2004⁽¹⁾	04/16/2013	Common Stock	5,000		56,882	D
Employee Stock Option (right to buy)	$19.24							07/23/2004⁽¹⁾	07/23/2013	Common Stock	5,000		61,882	D
Employee Stock Option (right to buy)	$22.52							10/15/2004⁽¹⁾	10/15/2013	Common Stock	5,000		66,882	D
Employee Stock Option (right to buy)	$22.3	02/11/2004		A		3,750		02/11/2005⁽¹⁾	02/11/2014	Common Stock	3,750	$22.3	70,632⁽²⁾	D
Employee Stock Option (right to buy)	$22.3	02/11/2004		A		2,500		02/11/2005⁽¹⁾	02/11/2014	Common Stock	2,500	$22.3	103,500⁽³⁾	I	By Spouse

Explanation of Responses:

1. Stock options dated 01/09/1998, 02/09/1999, 01/13/2000, 02/07/2001, 04/11/2001, 07/11/2001, 10/10/2001, 02/12/2002, 04/16/2002, 07/18/2002, 10/17/2002, 12/11/2002, 02/12/2003, 04/16/2003, 07/23/2003, 10/15/2003 and 2/11/2004 are such that 1/4 of the shares become exercisable on the first anniversary following the date of grant, and the remaining shares become exercisable in equal increments each quarter for 3 years thereafter.

2. Mrs. Scholl has Employee Stock Options (right to buy) for a total of 70,632 shares of Common Stock.

3. Mrs. Scholl has additional Employee Stock Options (right to buy) for a total of 103,500 shares, indirectly by spouse, of Common Stock with varying exercise prices and expiration dates.

4. Stock option dated 04/23/1997 is such that 1/5 of the shares become exercisable on the first anniversary following the date of grant, and the remaining shares become exercisable in equal increments each quarter for 4 years thereafter.

5. Stock option dated May 24, 2001 is fully exercisable 1 year from the date of grant, which was May 24, 2002.

Remarks:

	Michael El-Hillow - Attorney-in-Fact	02/13/2004
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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