SHEN (SHEN) director granted 33.1565 shares in lieu of cash fees

Rhea-AI Filing Summary

SHENANDOAH TELECOMMUNICATIONS CO/VA/ director Michael Anthony Rhymes received a stock grant as compensation. On this Form 4, he acquired 33.1565 shares of common stock, valued at $15.08 per share, received in lieu of director fees. After this grant, he directly holds a total of 11,874.5108 common shares. This is a routine, compensation-related equity award rather than an open-market purchase.

Insider Trade Summary 10b5-1

1 transaction reported

Mixed 1 txn

Insider Rhymes Michael Anthony

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	33.157	$15.08	$500.00

Holdings After Transaction: Common Stock — 11,874.511 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Shares granted: 33.1565 shares Grant value per share: $15.08 per share Total holdings after grant: 11,874.5108 shares

3 metrics

Shares granted 33.1565 shares Common Stock grant received in lieu of director fees

Grant value per share $15.08 per share Reference value for the Common Stock grant

Total holdings after grant 11,874.5108 shares Direct Common Stock held following the transaction

Key Terms

Grant, award, or other acquisition, director fees, Common Stock

3 terms

Grant, award, or other acquisition financial

"transaction_code_description: Grant, award, or other acquisition"

director fees financial

"Footnote: Shares received in lieu of director fees."

Common Stock financial

"security_title: Common Stock"

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/02/2026 - 10:14 AM Accepted by SEC EDGAR 07/02/2026 - 10:13 AM Learn about SEC filing dates

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

X

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

X

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^*

Rhymes Michael Anthony

(Last) (First) (Middle)

PO BOX 459

(Street)

EDINBURG VIRGINIA 22824

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2026

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

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

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

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	07/01/2026		A(1)		33.1565	A	$15.08	11,874.5108	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 Michael Anthony Rhymes	07/01/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did SHEN director Michael Anthony Rhymes report on this Form 4 for SHEN?

Michael Anthony Rhymes reported receiving 33.1565 shares of SHEN common stock. The shares were granted as compensation, not bought on the market, and were issued in lieu of director fees, reflecting routine equity-based board compensation.

Was the SHEN Form 4 transaction by Michael Anthony Rhymes an open-market buy or a stock grant?

The transaction was a stock grant, not an open-market purchase. The Form 4 shows code A, meaning a grant or award, with 33.1565 common shares received in lieu of director fees at a reference value of $15.08 per share.

How many SHEN shares does Michael Anthony Rhymes hold after this reported Form 4 transaction?

After the transaction, Michael Anthony Rhymes directly holds 11,874.5108 SHEN common shares. This total reflects the addition of 33.1565 granted shares received as director fee compensation to his prior direct holdings disclosed in the filing.

What price per share is associated with the SHEN stock grant to director Michael Anthony Rhymes?

The stock grant is associated with a value of $15.08 per SHEN common share. This price is used in the Form 4 disclosure for the 33.1565 shares granted as compensation in lieu of director fees, characterizing the economic value of the award.

Does the SHEN Form 4 indicate any stock sales or disposals by Michael Anthony Rhymes?

The Form 4 does not report any sales or disposals. It shows a single acquisition transaction coded A, representing a grant or award, where 33.1565 common shares were received as director fee compensation, increasing his direct holdings to 11,874.5108 shares.