GRAY TELEVISION INC

Ticker: GTN CUSIP: 389375106 Class: Common Stock

Pier Capital, LLC's Holding History (CIK: 0001310051)

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

Q4 2015

Shares 229,889 Value ($000) $3,747 Avg Close $15.66 Range $12.46 - $17.70

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2015	229,889	$3,747	$15.66	$12.46 - $17.70