CELSION CORPORATION

CUSIP: 15117N404 Class: COM

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

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

Q4 2014
Shares 27,591 Value ($000) $64 Avg Close — Range —
Q3 2014
Shares 33,200 Value ($000) $98 Avg Close — Range —