ULTIMATE SOFTWARE GROUP INC

CUSIP: 90385D107 Class: COM

STATE OF MICHIGAN RETIREMENT SYSTEM's Holding History (CIK: 0000762152)

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

Q1 2019
Shares 11,300 Value ($000) $3,730 Avg Close — Range —
Q4 2018
Shares 11,100 Value ($000) $2,718 Avg Close — Range —
Q3 2018
Shares 11,500 Value ($000) $3,705 Avg Close — Range —
Q2 2018
Shares 10,700 Value ($000) $2,753 Avg Close — Range —
Q1 2018
Shares 10,600 Value ($000) $2,583 Avg Close — Range —
Q4 2017
Shares 10,200 Value ($000) $2,226 Avg Close — Range —
Q3 2017
Shares 10,700 Value ($000) $2,029 Avg Close — Range —
Q2 2017
Shares 12,200 Value ($000) $2,563 Avg Close — Range —
Q1 2017
Shares 12,100 Value ($000) $2,362 Avg Close — Range —
Q4 2016
Shares 11,700 Value ($000) $2,133 Avg Close — Range —
Q3 2016
Shares 11,600 Value ($000) $2,371 Avg Close — Range —
Q2 2016
Shares 11,600 Value ($000) $2,439 Avg Close — Range —
Q1 2016
Shares 11,500 Value ($000) $2,225 Avg Close — Range —
Q4 2015
Shares 11,300 Value ($000) $2,209 Avg Close — Range —
Q3 2015
Shares 13,000 Value ($000) $2,327 Avg Close — Range —
Q2 2015
Shares 13,000 Value ($000) $2,136 Avg Close — Range —
Q1 2015
Shares 13,000 Value ($000) $2,209 Avg Close — Range —
Q4 2014
Shares 13,500 Value ($000) $1,982 Avg Close — Range —
Q3 2014
Shares 13,400 Value ($000) $1,896 Avg Close — Range —