BOYD GAMING CORP

Ticker: BYD CUSIP: 103304101 Class: Common Stock

Municipal Employees' Retirement System of Michigan's Holding History (CIK: 0001588873)

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

Q1 2020

Shares 15,020 Value ($000) $217 Avg Close $24.58 Range $6.18 - $34.75

Q4 2019

Shares 14,720 Value ($000) $441 Avg Close $26.95 Range $22.28 - $29.63

Q3 2019

Shares 14,680 Value ($000) $352 Avg Close $24.14 Range $20.77 - $27.22

Q2 2019

Shares 14,630 Value ($000) $394 Avg Close $26.04 Range $21.66 - $29.99

Q1 2019

Shares 14,630 Value ($000) $400 Avg Close $25.96 Range $19.12 - $30.21

Q4 2018

Shares 19,250 Value ($000) $400 Avg Close $24.91 Range $17.98 - $32.92

Q2 2018

Shares 23,580 Value ($000) $817 Avg Close $33.19 Range $28.93 - $36.63

Q1 2018

Shares 30,680 Value ($000) $977 Avg Close $33.73 Range $28.91 - $38.12

Q4 2017

Shares 36,320 Value ($000) $1,273 Avg Close $28.48 Range $23.93 - $33.85

Q3 2017

Shares 34,760 Value ($000) $905 Avg Close $24.32 Range $22.71 - $25.37

Q2 2017

Shares 23,220 Value ($000) $576 Avg Close $22.60 Range $19.97 - $24.57

Q1 2017

Shares 52,050 Value ($000) $1,145 Avg Close $19.05 Range $17.99 - $20.67

Q4 2016

Shares 52,050 Value ($000) $1,050 Avg Close $18.05 Range $15.72 - $20.23

Q3 2016

Shares 17,920 Value ($000) $354 Avg Close $18.02 Range $16.68 - $19.69

Q2 2016

Shares 17,620 Value ($000) $324 Avg Close $18.18 Range $16.29 - $20.09

Q1 2016

Shares 17,100 Value ($000) $353 Avg Close $16.59 Range $13.33 - $19.92

Q4 2015

Shares 16,170 Value ($000) $321 Avg Close $18.02 Range $15.22 - $19.88

Q3 2015

Shares 16,160 Value ($000) $263 Avg Close $15.53 Range $13.87 - $16.90

Q2 2015

Shares 15,010 Value ($000) $224 Avg Close $13.25 Range $12.08 - $14.55

Q1 2015

Shares 14,700 Value ($000) $209 Avg Close $12.89 Range $11.07 - $14.13

Q4 2014

Shares 19,400 Value ($000) $248 Avg Close $10.55 Range $8.23 - $12.25

Q3 2014

Shares 19,400 Value ($000) $197 Avg Close $10.16 Range $8.75 - $11.77

Q2 2014

Shares 18,300 Value ($000) $222 Avg Close $10.85 Range $9.63 - $12.77

Q1 2014

Shares 18,300 Value ($000) $242 Avg Close $10.85 Range $8.54 - $13.67

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2020	15,020	$217	$24.58	$6.18 - $34.75
Q4 2019	14,720	$441	$26.95	$22.28 - $29.63
Q3 2019	14,680	$352	$24.14	$20.77 - $27.22
Q2 2019	14,630	$394	$26.04	$21.66 - $29.99
Q1 2019	14,630	$400	$25.96	$19.12 - $30.21
Q4 2018	19,250	$400	$24.91	$17.98 - $32.92
Q2 2018	23,580	$817	$33.19	$28.93 - $36.63
Q1 2018	30,680	$977	$33.73	$28.91 - $38.12
Q4 2017	36,320	$1,273	$28.48	$23.93 - $33.85
Q3 2017	34,760	$905	$24.32	$22.71 - $25.37
Q2 2017	23,220	$576	$22.60	$19.97 - $24.57
Q1 2017	52,050	$1,145	$19.05	$17.99 - $20.67
Q4 2016	52,050	$1,050	$18.05	$15.72 - $20.23
Q3 2016	17,920	$354	$18.02	$16.68 - $19.69
Q2 2016	17,620	$324	$18.18	$16.29 - $20.09
Q1 2016	17,100	$353	$16.59	$13.33 - $19.92
Q4 2015	16,170	$321	$18.02	$15.22 - $19.88
Q3 2015	16,160	$263	$15.53	$13.87 - $16.90
Q2 2015	15,010	$224	$13.25	$12.08 - $14.55
Q1 2015	14,700	$209	$12.89	$11.07 - $14.13
Q4 2014	19,400	$248	$10.55	$8.23 - $12.25
Q3 2014	19,400	$197	$10.16	$8.75 - $11.77
Q2 2014	18,300	$222	$10.85	$9.63 - $12.77
Q1 2014	18,300	$242	$10.85	$8.54 - $13.67