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Director Fitzsimmons of Shenandoah (SHEN) exercises 9,863 RSUs

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Shenandoah Telecommunications director Tracy Fitzsimmons exercised 9,863 restricted stock units into common stock at no exercise price on April 21, 2026. These units represented a right to receive one share of common stock each and vested on an accelerated basis in connection with the director’s retirement on that date.

Following the transaction, Fitzsimmons holds 63,052.5123 shares of common stock directly. The filing shows an option-style conversion of previously granted equity awards, with no open-market buying or selling activity disclosed.

Positive

  • None.

Negative

  • None.
Insider Fitzsimmons Tracy
Role null
Type Security Shares Price Value
Exercise Restricted Stock Unit 9,863 $0.00 --
Exercise Common Stock 9,863 $0.00 --
Holdings After Transaction: Restricted Stock Unit — 0 shares (Direct, null); Common Stock — 63,052.512 shares (Direct, null)
Footnotes (1)
  1. Each restricted stock unit represents a contingent right to receive one share of common stock. The restricted stock units vested on an accelerated basis pursuant to the reporting person's retirement on April 21, 2026.
RSUs exercised 9,863 units Restricted Stock Units converted to common stock on April 21, 2026
Shares held after transaction 63,052.5123 shares Common stock directly owned by Tracy Fitzsimmons after exercise
Exercise price per RSU $0.0000 per unit Restricted stock unit conversion price on April 21, 2026
Derivative exercises 1 transaction, 9,863 shares Exercise or conversion of derivative security reported in Form 4
Restricted Stock Unit financial
"The restricted stock units vested on an accelerated basis pursuant to the reporting person's retirement"
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
derivative security financial
"transaction_code_description": "Exercise or conversion of derivative security""
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
accelerated basis financial
"The restricted stock units vested on an accelerated basis pursuant to the reporting person's retirement"
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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).
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 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)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
04/21/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock04/21/2026M9,863A(1)63,052.5123D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Restricted Stock Unit(1)04/21/2026M9,86304/21/2026(2) (2)Common Stock9,863$00D
Explanation of Responses:
1. Each restricted stock unit represents a contingent right to receive one share of common stock.
2. The restricted stock units vested on an accelerated basis pursuant to the reporting person's retirement on April 21, 2026.
/s/ Christopher E French Attorney in Fact for Tracy Fitzsimmons04/22/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Shenandoah Telecommunications (SHEN) report for Tracy Fitzsimmons?

Shenandoah Telecommunications reported that director Tracy Fitzsimmons exercised 9,863 restricted stock units into common stock. The transaction was coded as an exercise of a derivative security and did not involve open-market buying or selling of shares.

How many Shenandoah Telecommunications (SHEN) shares does Tracy Fitzsimmons hold after the Form 4 transaction?

After the reported transaction, Tracy Fitzsimmons holds 63,052.5123 shares of Shenandoah Telecommunications common stock directly. This reflects the conversion of 9,863 restricted stock units into common shares upon her retirement on April 21, 2026.

What are the details of the restricted stock units reported by Shenandoah Telecommunications (SHEN)?

Each restricted stock unit represented a contingent right to receive one share of Shenandoah Telecommunications common stock. On April 21, 2026, 9,863 units vested on an accelerated basis and were converted into common shares in connection with Tracy Fitzsimmons’ retirement.

Did the Shenandoah Telecommunications (SHEN) Form 4 show any open-market stock sales or purchases?

The Form 4 does not show any open-market stock purchases or sales. It reports an exercise of 9,863 restricted stock units into common stock, an equity award conversion rather than a buy or sell transaction in the market.

Why did Tracy Fitzsimmons’ restricted stock units at Shenandoah Telecommunications (SHEN) vest early?

The footnotes state that the restricted stock units vested on an accelerated basis due to Tracy Fitzsimmons’ retirement on April 21, 2026. This accelerated vesting triggered the conversion of 9,863 units into common stock.