ROCKY BRANDS INC

Ticker: RCKY CUSIP: 774515100 Class: Common Stock

PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC.'s Holding History (CIK: 0001238990)

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

Q1 2014

Shares 99,014 Value ($000) $1,425 Avg Close $14.67 Range $13.35 - $16.10

Q4 2013

Shares 120,436 Value ($000) $1,755 Avg Close $16.38 Range $13.32 - $19.97

Q3 2013

Shares 115,086 Value ($000) $2,004 Avg Close $16.92 Range $14.87 - $19.37

Q2 2013

Shares 107,765 Value ($000) $1,629 Avg Close $14.47 Range $13.13 - $16.41

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2014	99,014	$1,425	$14.67	$13.35 - $16.10
Q4 2013	120,436	$1,755	$16.38	$13.32 - $19.97
Q3 2013	115,086	$2,004	$16.92	$14.87 - $19.37
Q2 2013	107,765	$1,629	$14.47	$13.13 - $16.41