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KING INVESTMENT ADVISORS INC
> EBS
| Date | Name | Ticker | Shares | Change | Value | Change | Price |
| 12/31/2015 | Emergent BioSolutions Inc. | EBS | 0 | -85,095 | 0 | -1,365,000 | |
| 06/30/2015 | Emergent BioSolutions Inc. | EBS | 0 | -85,095 | 0 | -1,365,000 | |
| 03/31/2014 | Emergent BioSolutions Inc. | EBS | 0 | -54,750 | 0 | -1,043,000 | |
| 12/31/2013 | Emergent BioSolutions Inc. | EBS | 0 | -54,750 | 0 | -1,043,000 | |
| 09/30/2013 | Emergent BioSolutions Inc. | EBS | 54,750 | -30,345 | 1,043,000 | -322,000 | $19.05 |
| 06/30/2013 | Emergent BioSolutions Inc. | EBS | 86,010 | 915 | 1,240,000 | -125,000 | $14.42 |
| 03/31/2013 | Emergent BioSolutions Inc. | EBS | 84,900 | -195 | 1,187,000 | -178,000 | $13.98 |
| 12/31/2012 | Emergent BioSolutions Inc. | EBS | 85,095 | -11,565 | 1,365,000 | -9,000 | $16.04 |
| 09/30/2012 | Emergent BioSolutions Inc. | EBS | 96,660 | -635 | 1,374,000 | -100,000 | $14.21 |
| 06/30/2012 | Emergent BioSolutions Inc. | EBS | 97,295 | 2,480 | 1,474,000 | -43,000 | $15.15 |
| 03/31/2012 | Emergent BioSolutions Inc. | EBS | 94,815 | 35,665 | 1,517,000 | 521,000 | $16.00 |
| 12/31/2011 | Emergent BioSolutions Inc. | EBS | 59,150 | 18,075 | 996,000 | 362,000 | $16.84 |
| 09/30/2011 | Emergent BioSolutions Inc. | EBS | 41,075 | 13,280 | 634,000 | 7,000 | $15.44 |
| 06/30/2011 | Emergent BioSolutions Inc. | EBS | 27,795 | 4,830 | 627,000 | 72,000 | $22.56 |
| 03/31/2011 | Emergent BioSolutions Inc. | EBS | 22,965 | -3,440 | 555,000 | -64,000 | $24.17 |
| 12/31/2010 | Emergent BioSolutions Inc. | EBS | 26,405 | -14,955 | 619,000 | -95,000 | $23.44 |
| 09/30/2010 | Emergent BioSolutions Inc. | EBS | 41,360 | 70 | 714,000 | 39,000 | $17.26 |
| 06/30/2010 | Emergent BioSolutions Inc. | EBS | 41,290 | 41,290 | 675,000 | 675,000 | $16.35 |
| 03/31/2010 | Emergent BioSolutions Inc. | EBS | 41,290 | 41,290 | 675,000 | 675,000 | $16.35 |
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