ROCKY BRANDS INC

Ticker: RCKY CUSIP: 774515100 Class: Common Stock

SHEPHERD KAPLAN KROCHUK, LLC's Holding History (CIK: 0001218583)

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

Q3 2016

Shares 11,000 Value ($000) $116 Avg Close $10.92 Range $10.17 - $12.68

Q2 2016

Shares 14,500 Value ($000) $166 Avg Close $11.92 Range $10.70 - $13.95

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2016	11,000	$116	$10.92	$10.17 - $12.68
Q2 2016	14,500	$166	$11.92	$10.70 - $13.95