Shenandoah Telecom Insider Quaglio Receives Stock for Board Fees

Rhea-AI Filing Summary

Shenandoah Telecommunications Co. (SHEN) – Form 4 insider filing

Director Kenneth L. Quaglio reported the routine receipt of 45.754 shares of SHEN common stock on 07/01/2025. The shares were issued in lieu of director fees at a stated price of $13.66 per share (footnote 1), increasing Quaglio’s direct holdings to 26,291.0042 shares. No derivative securities were involved and no dispositions occurred. The filing was submitted individually by the director and does not reference any Rule 10b5-1 trading plan.

Given the small share amount (well under 0.1% of outstanding shares) and compensation-related nature of the transaction, the event is considered administrative and immaterial to SHEN’s valuation or governance profile.

Insights

Financial Analyst

TL;DR – Routine fee-in-stock grant; negligible impact on SHEN.

Quaglio’s 45.754-share acquisition is a standard board-compensation grant worth roughly $625. His ownership rises to about 26.3 k shares, still a de minimis percentage of SHEN’s roughly 50 m share float. The lack of market purchase or sizable volume means no signaling value regarding future performance. I view the filing as not impactful to equity valuation or liquidity.

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

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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)
07/01/2025

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	07/01/2025		A(1)		45.754	A	$13.66	26,291.0042	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	07/01/2025
	** 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 SHEN director Kenneth L. Quaglio report on Form 4?

He acquired 45.754 shares of common stock on 07/01/2025, received as payment for director fees.

At what price were the shares recorded in the filing?

The Form 4 lists a price of $13.66 per share for the stock issued.

How many SHEN shares does Quaglio own after the transaction?

Following the grant, Quaglio directly owns 26,291.0042 shares of SHEN common stock.

Was the transaction part of a Rule 10b5-1 trading plan?

No, the filing does not indicate that the acquisition was made under a Rule 10b5-1 plan.

Does this insider purchase materially affect SHEN’s share count?

No. The transaction involves fewer than 50 shares, an amount that is immaterial to SHEN’s total outstanding shares.