MERCHANTS BANCSHARES

CUSIP: 588448100 Class: COM

Invesco Ltd.'s Holding History (CIK: 0000914208)

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

Q4 2015
Shares 20,665 Value ($000) $651 Avg Close — Range —
Q3 2015
Shares 19,833 Value ($000) $583 Avg Close — Range —
Q2 2015
Shares 18,150 Value ($000) $600 Avg Close — Range —
Q1 2015
Shares 18,579 Value ($000) $542 Avg Close — Range —
Q4 2014
Shares 22,030 Value ($000) $675 Avg Close — Range —
Q3 2014
Shares 21,729 Value ($000) $612 Avg Close — Range —
Q2 2014
Shares 21,540 Value ($000) $689 Avg Close — Range —
Q1 2014
Shares 21,633 Value ($000) $705 Avg Close — Range —
Q4 2013
Shares 432 Value ($000) $14 Avg Close — Range —
Q3 2013
Shares 419 Value ($000) $12 Avg Close — Range —
Q2 2013
Shares 419 Value ($000) $12 Avg Close — Range —