<SUBMISSION>
<ACCESSION-NUMBER>0001179110-03-011763
<TYPE>4
<PUBLIC-DOCUMENT-COUNT>1
<PERIOD>20031201
<FILING-DATE>20031203
<REPORTING-OWNER>
<OWNER-DATA>
<CONFORMED-NAME>ELIASEN ALBERT A
<CIK>0001194784
</OWNER-DATA>
<FILING-VALUES>
<FORM-TYPE>4
<ACT>34
<FILE-NUMBER>000-30637
<FILM-NUMBER>031035997
</FILING-VALUES>
<MAIL-ADDRESS>
<STREET1>4900 W 78TH ST
<CITY>BLOOMINGTON
<STATE>MN
<ZIP>55435
</MAIL-ADDRESS>
</REPORTING-OWNER>
<ISSUER>
<COMPANY-DATA>
<CONFORMED-NAME>AUGUST TECHNOLOGY CORP
<CIK>0001063527
<ASSIGNED-SIC>3827
<IRS-NUMBER>411729485
<STATE-OF-INCORPORATION>MN
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<BUSINESS-ADDRESS>
<STREET1>4900 W 78TH ST
<CITY>BLOOMINGTON
<STATE>MN
<ZIP>55435
<PHONE>9528200080
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>4900 WEST 78TH STREET
<CITY>BLOOMINGTON
<STATE>MN
<ZIP>55435
</MAIL-ADDRESS>
</ISSUER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4 -
<TEXT>
<XML>
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

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<periodOfReport>2003-12-01</periodOfReport>
<notSubjectToSection16>0</notSubjectToSection16>
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        <issuerTradingSymbol>AUGT</issuerTradingSymbol>
</issuer>
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        <reportingOwnerAddress>
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            <rptOwnerState>MN</rptOwnerState>
            <rptOwnerZipCode>55435</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
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<isOther>0</isOther>
<officerTitle>VP, Engineering</officerTitle>
<otherText></otherText>
</reportingOwnerRelationship>
</reportingOwner>
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</transactionShares>
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</transactionAmounts>
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</transactionShares>
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</transactionShares>
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<exerciseDate><footnoteId id="F2"></footnoteId>
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</underlyingSecurity>
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</postTransactionAmounts>
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</underlyingSecurityTitle>
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</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
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</ownershipNature>
</derivativeHolding>
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<underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value>
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</ownershipNature>
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</conversionOrExercisePrice>
<exerciseDate><footnoteId id="F3"></footnoteId>
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</underlyingSecurity>
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<ownershipNature><directOrIndirectOwnership><value>D</value>
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</ownershipNature>
</derivativeHolding>
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<exerciseDate><footnoteId id="F4"></footnoteId>
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</underlyingSecurity>
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</postTransactionAmounts>
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</ownershipNature>
</derivativeHolding>
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</underlyingSecurity>
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</postTransactionAmounts>
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</ownershipNature>
</derivativeHolding>
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</underlyingSecurityTitle>
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</underlyingSecurity>
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</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
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</ownershipNature>
</derivativeHolding>
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<transactionDate><value>2003-12-01</value>
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</transactionCoding>
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</transactionShares>
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</transactionAmounts>
<exerciseDate><footnoteId id="F5"></footnoteId>
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</underlyingSecurity>
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</postTransactionAmounts>
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</ownershipNature>
</derivativeTransaction>
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</conversionOrExercisePrice>
<transactionDate><value>2003-12-01</value>
</transactionDate>
<transactionCoding><transactionFormType>4</transactionFormType>
<transactionCode>M</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
</transactionCoding>
<transactionAmounts><transactionShares><value>5000</value>
</transactionShares>
<transactionPricePerShare><value>0</value>
</transactionPricePerShare>
<transactionAcquiredDisposedCode><value>D</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<exerciseDate><value>2002-12-18</value>
</exerciseDate>
<expirationDate><value>2009-12-18</value>
</expirationDate>
<underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value>
</underlyingSecurityTitle>
<underlyingSecurityShares><value>5000</value>
</underlyingSecurityShares>
</underlyingSecurity>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>0</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</derivativeTransaction>
<derivativeTransaction><securityTitle><value>Stock Option (right to buy)</value>
</securityTitle>
<conversionOrExercisePrice><value>4.30</value>
</conversionOrExercisePrice>
<transactionDate><value>2003-12-01</value>
</transactionDate>
<transactionCoding><transactionFormType>4</transactionFormType>
<transactionCode>M</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
</transactionCoding>
<transactionAmounts><transactionShares><value>2652</value>
</transactionShares>
<transactionPricePerShare><value>0</value>
</transactionPricePerShare>
<transactionAcquiredDisposedCode><value>D</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<exerciseDate><footnoteId id="F6"></footnoteId>
</exerciseDate>
<expirationDate><value>2009-12-19</value>
</expirationDate>
<underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value>
</underlyingSecurityTitle>
<underlyingSecurityShares><value>2652</value>
</underlyingSecurityShares>
</underlyingSecurity>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>7956</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</derivativeTransaction>
</derivativeTable>
<footnotes><footnote id="F1">Sale effected pursuant to a Rule 10b5-1 tradiing plan adopted by reporting person on November 30, 2003.</footnote>
<footnote id="F2">Original option (30,000 shares) exercisable in five annual increments of 6,000 shares beginning December 6, 2001.</footnote>
<footnote id="F3">Original option (5,000 shares) exercisable in five annual increments of 1,000 shares beginning July 12, 2002.</footnote>
<footnote id="F4">Original option (3,500 shares) exercisable in five annual increments of 700 shares beginning December 7, 2002.</footnote>
<footnote id="F5">Original option (5,000 shares) exercisable in five annual increments of 1,000 shares beginning July 18, 2002.</footnote>
<footnote id="F6">Original option (10,608 shares) exercisable in four annual increments of 2,652 shares beginning December 19, 2002.</footnote>
<footnote id="F7">Additional December 1, 2003 transactions reported on separate Form 4; this Form 4 is #1 of 2.</footnote>
</footnotes>
<ownerSignature><signatureName>/s/ Albert A. Eliasen</signatureName>
<signatureDate>2003-12-03</signatureDate>
</ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SUBMISSION>
