X0206 3 2016-01-04 0 0001632127 Cable One, Inc. CABO 0001663130 McDonald Charles B. 210 E. EARLL DRIVE PHOENIX AZ 85012 0 1 0 0 Senior VP, Operations Common Stock, par value $0.01 17 D Stock Appreciation Right 422.31 2025-09-01 Common Stock, par value $0.01 3700 D The stock appreciation rights (SARs) generally vest and become exercisable as to 25% of the number of underlying shares covered by the grant on each of the first four anniversaries of the date of grant, subject to the Reporting Person's continued employment with Cable One, Inc. through each such date. Each SAR represents the right, upon exercise, to receive a number of shares of Common Stock equal in value to the amount, if any, by which the fair market value of Common Stock (as determined on the date of the exercise) exceeds the exercise price. /s/ Alan H. Silverman for Charles B. McDonald 2016-01-13