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VTL Associates, LLC
> ARO
| Date | Name | Ticker | Shares | Change | Value | Change | Price |
| 09/30/2015 | AEROPOSTALE INC | ARO | 0 | -389,201 | 0 | -1,351,000 | |
| 06/30/2015 | AEROPOSTALE INC | ARO | 0 | -389,201 | 0 | -1,351,000 | |
| 03/31/2015 | AEROPOSTALE INC | ARO | 389,201 | 372,726 | 1,351,000 | 1,127,000 | $3.47 |
| 12/31/2014 | AEROPOSTALE INC | ARO | 449,731 | 167,563 | 1,043,000 | 115,000 | $2.32 |
| 09/30/2014 | AEROPOSTALE INC | ARO | 282,168 | 265,693 | 928,000 | 704,000 | $3.29 |
| 06/30/2014 | AEROPOSTALE INC | ARO | 146,373 | -24,766 | 511,000 | -348,000 | $3.49 |
| 03/31/2014 | AEROPOSTALE INC | ARO | 171,139 | 100,263 | 859,000 | 215,000 | $5.02 |
| 12/31/2013 | AEROPOSTALE INC | ARO | 70,876 | 54,401 | 644,000 | 420,000 | $9.09 |
| 09/30/2013 | AEROPOSTALE INC | ARO | 27,268 | 10,793 | 256,000 | 32,000 | $9.39 |
| 06/30/2013 | AEROPOSTALE INC | ARO | 18,651 | 2,176 | 257,000 | 33,000 | $13.78 |
| 03/31/2013 | AEROPOSTALE INC | ARO | 16,475 | -13,553 | 224,000 | -166,664 | $13.60 |
| 12/31/2012 | AEROPOSTALE INC | ARO | 30,028 | 30,028 | 390,664 | 390,664 | $13.01 |
| 06/30/2012 | AEROPOSTALE INC | ARO | 14,636 | 14,636 | 240,000 | 240,000 | $16.40 |
| 03/31/2012 | AEROPOSTALE INC | ARO | 14,998 | 14,998 | 328,000 | 328,000 | $21.87 |
| 12/31/2011 | AEROPOSTALE INC | ARO | 17,182 | -6,645 | 268,000 | 0 | $15.60 |
| 09/30/2011 | AEROPOSTALE INC | ARO | 23,827 | 23,827 | 268,000 | 268,000 | $11.25 |
| 03/31/2009 | AEROPOSTALE INC | ARO | 0 | -4,125 | 0 | -66,000 | |
| 12/31/2008 | AEROPOSTALE INC | ARO | 4,125 | 4,125 | 66,000 | 66,000 | $16.00 |
| 09/30/2008 | AEROPOSTALE INC | ARO | 0 | -4,337 | 0 | -136,000 | |
| 06/30/2008 | AEROPOSTALE INC | ARO | 4,337 | 0 | 136,000 | 18,000 | $31.36 |
| 03/31/2008 | AEROPOSTALE INC | ARO | 4,337 | 531 | 118,000 | 17,000 | $27.21 |
| 12/31/2007 | AEROPOSTALE INC | ARO | 3,806 | 3,806 | 101,000 | 101,000 | $26.54 |
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