Insider Trades - LENDER DANIEL

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LENDER DANIEL: Declared Holdings
Company/Relationship	Reported	Shares	Ownership
QAD Inc. Officer NasdaqGS:QADI (historical quotes, profile, SEC, other insiders)	30-Nov-09	231,262	Direct

Insider & restricted shareholder transactions reported over the last two years
Date Shares Stock Transaction
30-Nov-09 5,783 QADI Sale at $5.41 per share.
(Proceeds of $31,286)
23-Oct-09 18,768 QADI Disposition (Non Open Market) at $4.81 per share.
(Value of $90,274)
15-Oct-09 40,030 QADI Acquisition (Non Open Market) at $0 per share.
23-Oct-08 200,000 QADI Acquisition (Non Open Market) at $0 per share.
21-Oct-08 5,783 QADI Statement of Ownership
1-Jun-08 3,217 QADI Disposition (Non Open Market) at $7.66 per share.
(Value of $24,642)

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Insider & restricted shareholder transactions reported over the last two years
Date	Shares	Stock	Transaction
30-Nov-09	5,783	QADI	Sale at $5.41 per share. (Proceeds of $31,286)
23-Oct-09	18,768	QADI	Disposition (Non Open Market) at $4.81 per share. (Value of $90,274)
15-Oct-09	40,030	QADI	Acquisition (Non Open Market) at $0 per share.
23-Oct-08	200,000	QADI	Acquisition (Non Open Market) at $0 per share.
21-Oct-08	5,783	QADI	Statement of Ownership
1-Jun-08	3,217	QADI	Disposition (Non Open Market) at $7.66 per share. (Value of $24,642)