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Salem Media Group Inc. (SALM)

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Insider Trading: Purchases

Insider	Price	Amount	Relationship	Remaining Holdings	Date	Form 4
Weinberg	$3.05	15,000	Director	50,770	2012-03-12	Filing
Epperson	$3.11	600	Large Shareholder, Officer, Director	2,888,342	2012-03-12	Filing
Epperson	$3.11	300	Large Shareholder, Officer, Director	2,887,742	2012-03-12	Filing
Epperson	$3.10	300	Large Shareholder, Officer, Director	2,887,442	2012-03-12	Filing
Epperson	$3.10	800	Large Shareholder, Officer, Director	2,887,142	2012-03-12	Filing
Epperson	$3.08	200	Large Shareholder, Officer, Director	2,886,342	2012-03-12	Filing
Epperson	$3.08	300	Large Shareholder, Officer, Director	2,886,142	2012-03-12	Filing
Epperson	$3.08	400	Large Shareholder, Officer, Director	2,885,842	2012-03-12	Filing
Epperson	$3.07	800	Large Shareholder, Officer, Director	2,885,442	2012-03-12	Filing
Epperson	$3.07	500	Large Shareholder, Officer, Director	2,884,642	2012-03-12	Filing
Epperson	$3.07	600	Large Shareholder, Officer, Director	2,884,142	2012-03-12	Filing
Epperson	$3.07	100	Large Shareholder, Officer, Director	2,883,542	2012-03-12	Filing
Epperson	$3.06	600	Large Shareholder, Officer, Director	2,883,442	2012-03-12	Filing
Epperson	$3.06	100	Large Shareholder, Officer, Director	2,882,842	2012-03-12	Filing
Epperson	$3.06	1,200	Large Shareholder, Officer, Director	2,882,742	2012-03-12	Filing
Epperson	$3.05	2,000	Large Shareholder, Officer, Director	2,881,542	2012-03-12	Filing
Epperson	$3.05	15,048	Large Shareholder, Officer, Director	2,879,542	2012-03-12	Filing
Epperson	$3.04	952	Large Shareholder, Officer, Director	2,864,494	2012-03-12	Filing
Epperson	$3.03	200	Large Shareholder, Officer, Director	2,863,542	2012-03-12	Filing
Epperson	$2.73	400	Large Shareholder, Officer, Director	2,872,222	2011-11-30	Filing