GRAY TELEVISION INC

Ticker: GTN CUSIP: 389375106 Class: Common Stock

HBK INVESTMENTS L P's Holding History (CIK: 0001011443)

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

Q4 2018

Shares 127,000 Value ($000) $1,872 Avg Close $17.36 Range $13.75 - $20.24

Q1 2018

Shares 65,313 Value ($000) $829 Avg Close $15.09 Range $11.80 - $17.80

Q3 2017

Shares 11,382 Value ($000) $179 Avg Close $14.30 Range $13.30 - $15.75

Q1 2016

Shares 102,778 Value ($000) $1,205 Avg Close $12.31 Range $9.95 - $16.26

Q4 2015

Shares 106,539 Value ($000) $1,737 Avg Close $15.66 Range $12.46 - $17.70

Q3 2015

Shares 190,869 Value ($000) $2,435 Avg Close $14.21 Range $10.38 - $18.07

Q2 2015

Shares 68,500 Value ($000) $1,074 Avg Close $14.67 Range $13.18 - $16.67

Q1 2015

Shares 29,200 Value ($000) $404 Avg Close $11.36 Range $9.17 - $14.80

Q3 2014

Shares 120,211 Value ($000) $947 Avg Close $10.95 Range $7.88 - $13.94

Q2 2014

Shares 140,981 Value ($000) $1,851 Avg Close $11.23 Range $9.02 - $13.44

Q1 2014

Shares 209,126 Value ($000) $2,169 Avg Close $11.35 Range $9.04 - $14.98

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2018	127,000	$1,872	$17.36	$13.75 - $20.24
Q1 2018	65,313	$829	$15.09	$11.80 - $17.80
Q3 2017	11,382	$179	$14.30	$13.30 - $15.75
Q1 2016	102,778	$1,205	$12.31	$9.95 - $16.26
Q4 2015	106,539	$1,737	$15.66	$12.46 - $17.70
Q3 2015	190,869	$2,435	$14.21	$10.38 - $18.07
Q2 2015	68,500	$1,074	$14.67	$13.18 - $16.67
Q1 2015	29,200	$404	$11.36	$9.17 - $14.80
Q3 2014	120,211	$947	$10.95	$7.88 - $13.94
Q2 2014	140,981	$1,851	$11.23	$9.02 - $13.44
Q1 2014	209,126	$2,169	$11.35	$9.04 - $14.98