Shenandoah Telecom Director Equity Grant Updates Ownership

Rhea-AI Filing Summary

Kenneth L. Quaglio, a director of Shenandoah Telecommunications Co. (SHEN), received equity compensation in lieu of director fees on 09/02/2025. The Form 4 reports an acquisition of 47.1698 shares of the issuer's common stock at a reported price of $13.25 per share. After the transaction, the filing shows 26,380.7489 shares beneficially owned by the reporting person.

The filing was executed by Christopher E. French as attorney-in-fact for Mr. Quaglio and includes the explanatory note that the shares were received in lieu of director fees. This disclosure documents an insider receipt of equity compensation and updates the directors beneficial ownership on the issuers Section 16 filings.

Positive

• Director received equity compensation as documented: 47.1698 shares received in lieu of director fees.
• Beneficial ownership updated to 26,380.7489 shares, increasing transparency of insider holdings.

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Director received shares in lieu of cash fees, updating insider ownership; routine compensation disclosure, not a material event by itself.

The Form 4 shows a director-level insider, Kenneth L. Quaglio, acquired 47.1698 shares as compensation in lieu of director fees on 09/02/2025 at $13.25 per share, resulting in 26,380.7489 shares beneficially owned. This is a standard Section 16 disclosure documenting equity-based compensation to a director and does not present additional context such as a new plan, accelerated vesting, or transfer to an affiliated entity. The report was signed by an attorney-in-fact, indicating the filing was submitted on the reporting person's behalf.

Securities Analyst

TL;DR: Small equity grant recorded; updates insider holdings but contains no signals of material corporate change.

The transaction recorded on the Form 4 is an acquisition of 47.1698 common shares at a reported price of $13.25, labeled explicitly as shares received in lieu of director fees. The filing updates the directors beneficial ownership to 26,380.7489 shares. From a securities-disclosure perspective, this is a routine insider compensation entry required under Section 16 and provides transparency on director remuneration and ownership stakes without additional financial metrics or corporate actions disclosed in this document.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

QUAGLIO KENNETH L

(Last) (First) (Middle)

PO BOX 459

(Street)

EDINBURG VA 22824

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
SHENANDOAH TELECOMMUNICATIONS CO/VA/ [ SHEN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/02/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/02/2025		A(1)		47.1698	A	$13.25	26,380.7489	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Shares received in lieu of director fees.

	/s/ Christopher E French Attorney in Fact for Kenneth L Quaglio	09/02/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did the SHEN Form 4 filed by Kenneth L. Quaglio report?

The Form 4 reports an acquisition of 47.1698 shares of Shenandoah Telecommunications Co. common stock on 09/02/2025 at a price of $13.25 per share, received in lieu of director fees.

How many shares does Kenneth L. Quaglio beneficially own after the transaction?

The filing shows 26,380.7489 shares beneficially owned following the reported transaction.

Was the transaction cash-based or equity-based?

The transaction was equity-based: shares were received in lieu of director fees, per the forms explanation.

Who signed the Form 4 filing for Kenneth L. Quaglio?

The Form 4 was signed by Christopher E. French as attorney-in-fact for Kenneth L. Quaglio on 09/02/2025.

What price per share was reported for the acquired shares on the Form 4?

The Form 4 reports a price of $13.25 per share for the acquired 47.1698 shares.