Units Outstanding

3 Months Ended

Mar. 31, 2014

6.	Units Outstanding

Changes in Holding Units outstanding during the three-month period ended March 31, 2014 are as follows:

Outstanding as of December 31, 2013	96,028,494
Options exercised	273,084
Units issued	8,337
Units retired	(71,933	)
Outstanding as of March 31, 2014	96,237,982

As discussed in Note 3, on July 1, 2013, management retired all unallocated Holding Units in AllianceBernstein’s consolidated rabbi trust, and, since that time, has continued to retire units as AllianceBernstein has purchased Holding Units on the open market or from employees to allow them to fulfill statutory tax withholding requirements at the time of distribution of long-term incentive compensation awards.