Emmis Communications Corp (EMMS)

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Insider Trading: Purchases

Insider	Price	Amount	Relationship	Remaining Holdings	Date	Form 4
Smulyan	$1.85	94,500	Large Shareholder, Officer, Director, Other	1,057,780	2012-07-17	Filing
Smulyan	$1.89	94,500	Large Shareholder, Officer, Director, Other	963,280	2012-07-16	Filing
Smulyan	$1.86	79,100	Large Shareholder, Officer, Director, Other	868,780	2012-07-13	Filing
Walsh	$1.78	630	Officer	91,234	2012-07-16	Filing
Walsh	$1.80	200	Officer	90,604	2012-07-13	Filing
Walsh	$1.80	800	Officer	90,404	2012-07-13	Filing
Hsjs,	$1.89	94,500	Other	963,280	2012-07-16	Filing
Hsjs,	$1.86	79,100	Other	868,780	2012-07-13	Filing
Smulyan	$1.70	105,600	Large Shareholder, Officer, Director, Other	789,680	2012-05-22	Filing
Hsjs,	$1.70	105,600	Other	789,680	2012-05-22	Filing
Simon	$1.70	105,600	Other	789,680	2012-05-22	Filing
Simon	$1.48	98,100	Other	684,080	2012-05-17	Filing
Hsjs,	$1.48	98,100	Other	684,080	2012-05-17	Filing
Smulyan	$1.48	98,100	Large Shareholder, Officer, Director, Other	684,080	2012-05-17	Filing
Smulyan	$0.00	585,980	Large Shareholder, Officer, Director, Other	585,980	2012-05-17	Filing
Walsh	$1.41	2,450	Officer	89,604	2012-05-16	Filing
Leventhal	$1.31	1,400	Director	1,487	2012-05-15	Filing
Leventhal	$1.31	87	Director	87	2012-05-14	Filing
Loewen	$1.35	11	Officer	95,653	2012-05-15	Filing
Loewen	$1.38	20,000	Officer	95,642	2012-05-15	Filing