MERCHANTS BANCSHARES

CUSIP: 588448100 Class: COM

MUFG Americas Holdings Corp's Holding History (CIK: 0001011659)

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

Q2 2012
Shares 4,400 Value ($000) $121 Avg Close — Range —
Q1 2012
Shares 4,400 Value ($000) $124 Avg Close — Range —
Q4 2011
Shares 4,400 Value ($000) $128 Avg Close — Range —
Q2 2011
Shares 300 Value ($000) $7 Avg Close — Range —