Shenandoah Telecommunications Co. (SHEN) director paid in stock for fees

Q: What insider transaction did SHEN director Richard L. Koontz Jr. report?

Director Richard L. Koontz Jr. reported receiving 41.7014 shares of Shenandoah Telecommunications common stock. The shares were granted on August 3, 2026 as stock in lieu of director fees, rather than through an open-market purchase or sale.

Q: At what price were the SHEN shares granted to director Richard L. Koontz Jr.?

The shares were valued at $11.99 per share for the grant. This price applies to the 41.7014 shares of Shenandoah Telecommunications common stock received as compensation in lieu of cash director fees on August 3, 2026.

Q: How many SHEN shares does Richard L. Koontz Jr. own after this Form 4 transaction?

Following the award, Richard L. Koontz Jr. directly owns 71,813.2151 shares of Shenandoah Telecommunications common stock. This total reflects his updated beneficial ownership after receiving shares in lieu of his director fees.

Q: Was the SHEN Form 4 transaction a market purchase or sale?

The Form 4 reports a grant/award acquisition of 41.7014 shares, not a market trade. According to the footnote, the shares were received in lieu of director fees , indicating compensation rather than an open-market buy or sell.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Koontz Richard L Jr reported acquisition or exercise transactions in this Form 4 filing.

Shenandoah Telecommunications director Richard L. Koontz Jr. received a grant of 41.7014 shares of common stock on August 3, 2026, as shares in lieu of director fees at $11.99 per share. After this award, he directly holds 71,813.2151 shares of common stock.

Insider Trade Summary

Net Buyer: 41.7014 shares

Net Buy 1 txn

Insider Koontz Richard L Jr

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock ^F1	41.7014	$11.99	$500.00

Holdings After Transaction: Common Stock — 71,813.2151 shares (Direct)

Footnotes (1)

F1. Shares received in lieu of director fees.

Key Figures

Shares granted: 41.7014 shares Grant price: $11.9900 per share Total holdings after grant: 71,813.2151 shares +1 more

4 metrics

Shares granted 41.7014 shares Common stock awarded on August 3, 2026 in lieu of director fees

Grant price $11.9900 per share Valuation used for the 41.7014-share common stock award

Total holdings after grant 71,813.2151 shares Director’s direct ownership of SHEN common stock after the transaction

Transactions acquiring shares 1 transaction Single grant/award acquisition reported on this Form 4

Key Terms

Form 4, in lieu of director fees, beneficial ownership

3 terms

Form 4 regulatory

"INSIDER FILING DATA (Form 4)"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

in lieu of director fees financial

"Shares received in lieu of director fees."

beneficial ownership regulatory

"total_shares_following_transaction reflects updated beneficial ownership"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

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Available on EDGAR 08/04/2026 - 04:37 PM Accepted by SEC EDGAR 08/04/2026 - 04:36 PM

FAQ

What insider transaction did SHEN director Richard L. Koontz Jr. report?

Director Richard L. Koontz Jr. reported receiving 41.7014 shares of Shenandoah Telecommunications common stock. The shares were granted on August 3, 2026 as stock in lieu of director fees, rather than through an open-market purchase or sale.

At what price were the SHEN shares granted to director Richard L. Koontz Jr.?

The shares were valued at $11.99 per share for the grant. This price applies to the 41.7014 shares of Shenandoah Telecommunications common stock received as compensation in lieu of cash director fees on August 3, 2026.

How many SHEN shares does Richard L. Koontz Jr. own after this Form 4 transaction?

Following the award, Richard L. Koontz Jr. directly owns 71,813.2151 shares of Shenandoah Telecommunications common stock. This total reflects his updated beneficial ownership after receiving shares in lieu of his director fees.

Was the SHEN Form 4 transaction a market purchase or sale?

The Form 4 reports a grant/award acquisition of 41.7014 shares, not a market trade. According to the footnote, the shares were received in lieu of director fees, indicating compensation rather than an open-market buy or sell.

What does “shares received in lieu of director fees” mean for SHEN?

“Shares received in lieu of director fees” means cash fees owed to the director were paid in company stock instead. For SHEN, Richard L. Koontz Jr. accepted 41.7014 shares of common stock as his director compensation for that period.

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^*

Koontz Richard L Jr

(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)
08/03/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	08/03/2026		A⁽¹⁾		41.7014	A	$11.99	71,813.2151	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Shares received in lieu of director fees.

	/s/ Christopher E French Attorney in Fact for Richard L Koontz Jr	08/04/2026
	** 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)

Source: View Original Filing on SEC EDGAR