Shenandoah director exercises RSUs, withholds shares

Shenandoah Telecommunications director Tracy Fitzsimmons reported equity compensation and related share movements.

Rhea-AI Filing Summary

Shenandoah Telecommunications director Tracy Fitzsimmons reported equity compensation and related share movements. Fitzsimmons received a grant of 9863.0000 restricted stock units, each representing a contingent right to receive one share of common stock. On the prior day, 10924.0000 restricted stock units were converted into 10924.0000 shares of common stock.

To satisfy tax obligations tied to this conversion, 3031 shares of common stock were disposed of at a price of 13.0100 per share in a tax-withholding transaction, rather than an open-market sale. After these transactions, direct holdings reported were 53045.5343 shares of common stock and 9863.0000 restricted stock units.

Insider Trade Summary

10,924 shares exercised/converted

Exercise 4 txns

Insider Fitzsimmons Tracy

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Unit	9,863	$0.00	$0.00
Exercise	Restricted Stock Unit	10,924	$0.00	$0.00
Exercise	Common Stock	10,924	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock	3,031	$13.01	$39K

Holdings After Transaction: Restricted Stock Unit — 9,863 contracts (Direct); Common Stock — 53,045.5343 shares (Direct)

Footnotes (1)

1. F1. Each restricted stock unit represents a contingent right to receive one share of common stock.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What equity awards did Tracy Fitzsimmons report for SHEN?

Tracy Fitzsimmons reported receiving 9863.0000 restricted stock units. Each unit represents a contingent right to receive one share of Shenandoah Telecommunications common stock, increasing her potential future share ownership if vesting conditions are met.

How many SHEN restricted stock units did Fitzsimmons convert to common stock?

Fitzsimmons reported the exercise or conversion of 10924.0000 restricted stock units into 10924.0000 shares of Shenandoah Telecommunications common stock. This transaction was coded “M,” indicating a derivative exercise or conversion rather than an open-market purchase.

Did Tracy Fitzsimmons sell any SHEN shares in the open market?

The filing shows a disposition of 3031 common shares coded “F,” meaning shares were withheld at 13.0100 per share to cover tax or exercise obligations. This reflects tax-withholding, not an ordinary open-market sale transaction.

What is Tracy Fitzsimmons’ SHEN common stock ownership after these transactions?

Following the reported transactions, Fitzsimmons directly held 53045.5343 shares of Shenandoah Telecommunications common stock. She also held 9863.0000 restricted stock units, which may convert into additional shares if applicable conditions are satisfied.

What does each SHEN restricted stock unit represent for Fitzsimmons?

Each restricted stock unit reported by Fitzsimmons represents a contingent right to receive one share of Shenandoah Telecommunications common stock. This means units can convert into shares in the future, typically upon meeting vesting or service-based conditions.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 02/20/2026 - 04:05 PM 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

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^*

Fitzsimmons Tracy

(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)
02/18/2026

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	02/18/2026		M		10,924	A	(1)	56,076.5343	D
Common Stock	02/18/2026		F		3,031	D	$13.01	53,045.5343	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
Restricted Stock Unit	(1)	02/18/2026		M			10,924	02/18/2026	02/18/2026	Common Stock	10,924	$0	0	D
Restricted Stock Unit	(1)	02/19/2026		A		9,863		02/19/2027	02/19/2027	Common Stock	9,863	$0	9,863	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of common stock.

	/s/ Christopher E French Attorney in Fact for Tracy Fitzsimmons	02/20/2026
	** 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).
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