AXT INC

Ticker: AXTI CUSIP: 00246W103 Class: COM

SHEPHERD KAPLAN KROCHUK, LLC's Holding History (CIK: 0001218583)

Note: Option positions (PUT/CALL) are excluded.

Q3 2016

Shares 27,002 Value ($000) $140 Avg Close $4.04 Range $3.12 - $5.21

Q3 2015

Shares 46,864 Value ($000) $90 Avg Close $2.25 Range $1.91 - $2.59

Q2 2015

Shares 81,370 Value ($000) $205 Avg Close $2.47 Range $2.22 - $2.70

Q1 2015

Shares 102,170 Value ($000) $275 Avg Close $2.71 Range $2.36 - $3.05

Q4 2014

Shares 313,171 Value ($000) $877 Avg Close $2.46 Range $2.08 - $2.88

Q3 2014

Shares 248,528 Value ($000) $606 Avg Close $2.39 Range $2.04 - $3.04

Q2 2014

Shares 213,300 Value ($000) $456 Avg Close $2.19 Range $2.06 - $2.32

Q1 2014

Shares 137,500 Value ($000) $303 Avg Close $2.37 Range $2.20 - $2.67

Q4 2013

Shares 90,000 Value ($000) $235 Avg Close $2.34 Range $2.10 - $2.64

Q3 2013

Shares 80,500 Value ($000) $188 Avg Close $2.50 Range $2.27 - $2.86

Q2 2013

Shares 95,000 Value ($000) $257 Avg Close $2.79 Range $2.50 - $3.04

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2016	27,002	$140	$4.04	$3.12 - $5.21
Q3 2015	46,864	$90	$2.25	$1.91 - $2.59
Q2 2015	81,370	$205	$2.47	$2.22 - $2.70
Q1 2015	102,170	$275	$2.71	$2.36 - $3.05
Q4 2014	313,171	$877	$2.46	$2.08 - $2.88
Q3 2014	248,528	$606	$2.39	$2.04 - $3.04
Q2 2014	213,300	$456	$2.19	$2.06 - $2.32
Q1 2014	137,500	$303	$2.37	$2.20 - $2.67
Q4 2013	90,000	$235	$2.34	$2.10 - $2.64
Q3 2013	80,500	$188	$2.50	$2.27 - $2.86
Q2 2013	95,000	$257	$2.79	$2.50 - $3.04