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

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person * Hartman Mark D   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) Principal Fincl & Actg Officer (Last) (First) (Middle) 1625 SHARP POINT DRIVE 3. Date of Earliest Transaction (Month/Day/Year) 03/14/2006 (Street) FORT COLLINS, CO 80525 4. If Amendment, Date 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 (City) (State) (Zip) 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) Code V Amount (A) or (D) Price Common Stock 03/14/2006   A   1,500 A (1) 3,933 (2) D

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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 Underlying Securities (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 of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Employee Stock Option (right to buy)

$ 22.3

02/11/2005(3)

02/11/2014

Common Stock

4,000

4,000

D

Employee Stock Option (right to buy)

$ 22.52

10/15/2004(3)

10/15/2013

Common Stock

1,250

5,250

D

Employee Stock Option (right to buy)

$ 19.24

07/23/2004(3)

07/23/2013

Common Stock

1,250

6,500

D

Employee Stock Option (right to buy)

$ 7.61

04/16/2004(4)

04/16/2013

Common Stock

1,250

7,750

D

Employee Stock Option (right to buy)

$ 9.12

02/12/2004(4)

02/12/2013

Common Stock

1,250

9,000

D

Employee Stock Option (right to buy)

$ 7.7

10/17/2003(4)

10/17/2012

Common Stock

600

9,600

D

Employee Stock Option (right to buy)

$ 17.85

07/18/2003(3)

07/18/2012

Common Stock

600

10,200

D

Employee Stock Option (right to buy)

$ 38.55

04/16/2003(3)

04/16/2012

Common Stock

600

10,800

D

Employee Stock Option (right to buy)

$ 24.9

02/12/2003(3)

02/12/2012

Common Stock

600

11,400

D

Employee Stock Option (right to buy)

$ 14.1

03/14/2006

A

10,000

03/14/2007(5)

03/14/2016

Common Stock

10,000

$ 14.1

21,400 (6)

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Hartman Mark D 1625 SHARP POINT DRIVE FORT COLLINS, CO 80525			Principal Fincl & Actg Officer

Signatures

/s/ Mary K. Derr - Attorney-in-Fact		03/16/2006
**Signature of Reporting Person		Date

Explanation of Responses:

*	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).
(1)	Represents shares of restricted stock units.
(2)	Includes 3,100 shares of restricted stock units.
(3)	The options dated 02/11/04, 10/15/2003, 07/23/2003, 07/18/2002, 04/16/2002 and 02/12/2002 are such that 25% of the options became exercisable on the first anniversary following the date of grant, and the remaining options became exercisable in equal increments each quarter for 3 years thereafter until October 18, 2005 at which time they became fully vested.
(4)	Stock options dated 04/16/2003, 02/12/2003 and 10/17/2002 are such that 25% 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.
(5)	Stock options dated 03/14/2006 are such that 25% of the options become exercisable on the first anniversary following the date of grant and the remaining options become exercisable in equal increments each year for 3 years thereafter.
(6)	Mr. Hartman has Employee Stock Options (right to buy) for a total of 21,400 shares of Common Stock.

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