Insider Trades - LOUGHRAN SARAH P

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LOUGHRAN SARAH P: Declared Holdings
Company/Relationship	Reported	Shares	Ownership
Health Grades, Inc. Officer NasdaqGS:HGRD (historical quotes, profile, other insiders)	8-Dec-08	1,363,962	Direct

Insider & restricted shareholder transactions reported over the last two years
Date Shares Stock Transaction
8-Dec-08 470,000 HGRD Option Exercise at $0.10 per share.
(Cost of $47,000)
17-Nov-08 300,000 HGRD Option Exercise at $0.10 per share.
(Cost of $30,000)
1-Jul-08 15,000 HGRD Acquisition (Non Open Market) at $0 per share.

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Insider & restricted shareholder transactions reported over the last two years
Date	Shares	Stock	Transaction
8-Dec-08	470,000	HGRD	Option Exercise at $0.10 per share. (Cost of $47,000)
17-Nov-08	300,000	HGRD	Option Exercise at $0.10 per share. (Cost of $30,000)
1-Jul-08	15,000	HGRD	Acquisition (Non Open Market) at $0 per share.