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ATHENA CAPITAL MANAGEMENT INC
> MPAC
| Date | Name | Ticker | Shares | Change | Value | Change | Price |
| 09/30/2011 | MOD PAC CORP | MPAC | 151,378 | 79,328 | 858,000 | 432,000 | $5.67 |
| 06/30/2011 | MOD PAC CORP | MPAC | 72,050 | 20,500 | 426,000 | 112,000 | $5.91 |
| 03/31/2011 | MOD PAC CORP | MPAC | 51,550 | 11,640 | 314,000 | 114,000 | $6.09 |
| 12/31/2010 | MOD PAC CORP | MPAC | 39,910 | 2,145 | 200,000 | 98,000 | $5.01 |
| 09/30/2009 | MOD PAC CORP | MPAC | 37,765 | 0 | 102,000 | -2,000 | $2.70 |
| 06/30/2009 | MOD PAC CORP | MPAC | 37,765 | 0 | 104,000 | 40,000 | $2.75 |
| 03/31/2009 | MOD PAC CORP | MPAC | 37,765 | 0 | 64,000 | -26,000 | $1.69 |
| 12/31/2008 | MOD PAC CORP | MPAC | 37,765 | -1,603 | 90,000 | -42,000 | $2.38 |
| 09/30/2008 | MOD PAC CORP | MPAC | 39,368 | 39,368 | 132,000 | 132,000 | $3.35 |
| 06/30/2008 | MOD PAC CORP | MPAC | 39,368 | 39,368 | 167,000 | 167,000 | $4.24 |
| 03/31/2008 | MOD PAC CORP | MPAC | 38,618 | 38,618 | 195,000 | 195,000 | $5.05 |
| 12/31/2007 | MOD PAC CORP | MPAC | 38,618 | 38,618 | 251,000 | 251,000 | $6.50 |
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