MERCHANTS BANCSHARES

CUSIP: 588448100 Class: COM

ALLIANCEBERNSTEIN L.P.'s Holding History (CIK: 0001109448)

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

Q1 2017
Shares 6,200 Value ($000) $302 Avg Close — Range —
Q4 2016
Shares 6,100 Value ($000) $331 Avg Close — Range —
Q1 2015
Shares 5,200 Value ($000) $152 Avg Close — Range —
Q4 2014
Shares 5,100 Value ($000) $156 Avg Close — Range —
Q3 2014
Shares 5,300 Value ($000) $149 Avg Close — Range —
Q2 2014
Shares 5,800 Value ($000) $185 Avg Close — Range —
Q1 2014
Shares 6,650 Value ($000) $217 Avg Close — Range —
Q4 2013
Shares 7,550 Value ($000) $253 Avg Close — Range —
Q3 2013
Shares 9,450 Value ($000) $274 Avg Close — Range —
Q2 2013
Shares 9,782 Value ($000) $289 Avg Close — Range —