GRAY TELEVISION INC

Ticker: GTN CUSIP: 389375106 Class: Common Stock

Verdad Advisers, LP's Holding History (CIK: 0001812822)

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

Q4 2025

Shares 29,009 Value ($000) $140 Avg Close $4.89 Range $4.25 - $5.86

Q4 2020

Shares 140,000 Value ($000) $2,505 Avg Close $15.85 Range $11.96 - $19.40

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	29,009	$140	$4.89	$4.25 - $5.86
Q4 2020	140,000	$2,505	$15.85	$11.96 - $19.40