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ACADIAN ASSET MANAGEMENT LLC
> SALM
| Date | Name | Ticker | Shares | Change | Value | Change | Price |
| 06/30/2023 | SALEM MEDIA GROUP, INC. /DE/ | SALM | 92,382 | -56,647 | 87,000 | -74,000 | $0.94 |
| 03/31/2023 | SALEM MEDIA GROUP, INC. /DE/ | SALM | 149,029 | -3,418 | 161,000 | 2,000 | $1.08 |
| 12/31/2022 | SALEM MEDIA GROUP, INC. /DE/ | SALM | 152,447 | -8,145 | 159,000 | -119,000 | $1.04 |
| 09/30/2022 | SALEM MEDIA GROUP, INC. /DE/ | SALM | 160,592 | -54,354 | 278,000 | -177,000 | $1.73 |
| 06/30/2022 | SALEM MEDIA GROUP, INC. /DE/ | SALM | 214,946 | -78,219 | 455,000 | -537,000 | $2.12 |
| 03/31/2022 | SALEM MEDIA GROUP, INC. /DE/ | SALM | 293,165 | -114,777 | 992,000 | -255,000 | $3.38 |
| 12/31/2021 | SALEM MEDIA GROUP, INC. /DE/ | SALM | 407,942 | 7,891 | 1,247,000 | -236,000 | $3.06 |
| 09/30/2021 | SALEM MEDIA GROUP, INC. /DE/ | SALM | 400,051 | 0 | 1,483,000 | 463,000 | $3.71 |
| 06/30/2021 | SALEM MEDIA GROUP, INC. /DE/ | SALM | 400,051 | 15,086 | 1,020,000 | -112,000 | $2.55 |
| 03/31/2021 | SALEM MEDIA GROUP, INC. /DE/ | SALM | 384,965 | 139,503 | 1,132,000 | 877,000 | $2.94 |
| 12/31/2020 | SALEM MEDIA GROUP, INC. /DE/ | SALM | 245,462 | 223,988 | 255,000 | 235,000 | $1.04 |
| 09/30/2020 | SALEM MEDIA GROUP, INC. /DE/ | SALM | 21,474 | -18,128 | 20,000 | -25,000 | $0.93 |
| 06/30/2020 | SALEM MEDIA GROUP, INC. /DE/ | SALM | 39,602 | 0 | 45,000 | 11,000 | $1.14 |
| 03/31/2020 | SALEM MEDIA GROUP, INC. /DE/ | SALM | 39,602 | -9,816 | 34,000 | -37,000 | $0.86 |
| 12/31/2019 | SALEM MEDIA GROUP, INC. /DE/ | SALM | 49,418 | -26,319 | 71,000 | -45,000 | $1.44 |
| 09/30/2019 | SALEM MEDIA GROUP, INC. /DE/ | SALM | 75,737 | 12,410 | 116,000 | -37,000 | $1.53 |
| 06/30/2019 | SALEM MEDIA GROUP, INC. /DE/ | SALM | 63,327 | 21,922 | 153,000 | 47,000 | $2.42 |
| 03/31/2019 | SALEM MEDIA GROUP, INC. /DE/ | SALM | 41,405 | 4,003 | 106,000 | 28,000 | $2.56 |
| 12/31/2018 | SALEM MEDIA GROUP, INC. /DE/ | SALM | 37,402 | 13,701 | 78,000 | -2,000 | $2.09 |
| 09/30/2018 | SALEM MEDIA GROUP, INC. /DE/ | SALM | 23,701 | 0 | 80,000 | -42,000 | $3.38 |
| 06/30/2018 | SALEM MEDIA GROUP, INC. /DE/ | SALM | 23,701 | 19,549 | 122,000 | 107,000 | $5.15 |
| 03/31/2018 | SALEM MEDIA GROUP, INC. /DE/ | SALM | 4,152 | 4,152 | 15,000 | 15,000 | $3.61 |
| 09/30/2017 | SALEM MEDIA GROUP, INC. /DE/ | SALM | 0 | -9,563 | 0 | -68,000 | |
| 06/30/2017 | SALEM MEDIA GROUP, INC. /DE/ | SALM | 9,563 | -15,660 | 68,000 | -120,000 | $7.11 |
| 03/31/2017 | SALEM MEDIA GROUP, INC. /DE/ | SALM | 25,223 | 4,973 | 188,000 | 61,000 | $7.45 |
| 12/31/2016 | SALEM MEDIA GROUP, INC. /DE/ | SALM | 20,250 | -4,237 | 127,000 | -16,000 | $6.27 |
| 09/30/2016 | SALEM MEDIA GROUP, INC. /DE/ | SALM | 24,487 | -5,739 | 143,000 | -75,000 | $5.84 |
| 06/30/2016 | SALEM MEDIA GROUP, INC. /DE/ | SALM | 30,226 | 30,226 | 218,000 | 218,000 | $7.21 |
| 03/31/2016 | SALEM MEDIA GROUP, INC. /DE/ | SALM | 0 | -523 | 0 | -3,000 | |
| 12/31/2015 | SALEM MEDIA GROUP, INC. /DE/ | SALM | 523 | 523 | 3,000 | 3,000 | $5.74 |
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