MERCHANTS BANCSHARES

CUSIP: 588448100 Class: COM

O'SHAUGHNESSY ASSET MANAGEMENT, LLC's Holding History (CIK: 0001423442)

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

Q3 2016
Shares 2,396 Value ($000) $78 Avg Close — Range —
Q2 2016
Shares 2,416 Value ($000) $74 Avg Close — Range —
Q1 2016
Shares 269 Value ($000) $8 Avg Close — Range —
Q4 2015
Shares 11 Value ($000) $0 Avg Close — Range —