Shenandoah Telecom director exercises 9,863 RSUs

Shenandoah Telecommunications director John W. Flora exercised restricted stock units into common shares as part of his retirement.

Rhea-AI Filing Summary

Shenandoah Telecommunications director John W. Flora exercised restricted stock units into common shares as part of his retirement. On April 21, 2026, 9,863 restricted stock units converted into 9,863 shares of common stock at a stated price of $0.00 per share.

Following this compensation-related transaction, Flora directly holds 66,060 shares of common stock, and his restricted stock unit balance shown in this filing is reduced to zero. The footnotes explain that each unit represented a contingent right to one share and that the units vested on an accelerated basis due to his retirement.

Insider Trade Summary

9,863 shares exercised/converted

Exercise 2 txns

Insider John W Flora

Role Director

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Unit	9,863	$0.00	$0.00
Exercise	Common Stock	9,863	$0.00	$0.00

Holdings After Transaction: Restricted Stock Unit — 0 contracts (Direct); Common Stock — 66,060 shares (Direct)

Footnotes (2)

1. F1. Each restricted stock unit represents a contingent right to receive one share of common stock.
2. F2. The restricted stock units vested on an accelerated basis pursuant to the reporting person's retirement on April 21, 2026.

Key Figures

RSUs exercised: 9,863 units Shares received: 9,863 shares Post-transaction holdings: 66,060 shares +2 more

5 metrics

RSUs exercised 9,863 units Restricted stock units converted to common stock on April 21, 2026

Shares received 9,863 shares Common stock received from RSU conversion at $0.00 per share

Post-transaction holdings 66,060 shares John W. Flora’s direct common stock holdings after the transaction

RSU balance after event 0 units Restricted stock units remaining after vesting and conversion

Exercise price $0.00 per share Stated price per share for RSU conversion

Key Terms

Restricted Stock Unit, contingent right, vested on an accelerated basis, retirement

4 terms

Restricted Stock Unit financial

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

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.

contingent right financial

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

vested on an accelerated basis financial

"The restricted stock units vested on an accelerated basis pursuant to the reporting person's retirement on April 21, 2026."

retirement financial

"The restricted stock units vested on an accelerated basis pursuant to the reporting person's retirement on April 21, 2026."

FAQ

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

What insider transaction did John W. Flora report at SHEN?

John W. Flora reported exercising 9,863 restricted stock units into 9,863 shares of Shenandoah Telecommunications common stock. The units converted at a stated price of $0.00 per share and were tied to his equity compensation, rather than an open-market stock purchase or sale.

How many SHEN shares does John W. Flora hold after this Form 4?

After the transaction, John W. Flora directly holds 66,060 shares of Shenandoah Telecommunications common stock. This reflects the addition of 9,863 shares received from the restricted stock unit conversion and is the post-transaction total reported in the Form 4.

What happened to John W. Flora’s restricted stock units at Shenandoah Telecommunications?

Flora’s 9,863 restricted stock units vested and converted into 9,863 shares of common stock. The filing shows his restricted stock unit balance dropping to zero, indicating these units were fully settled into shares as part of this compensation-related event.

Why did John W. Flora’s restricted stock units vest at SHEN?

The restricted stock units vested on an accelerated basis due to John W. Flora’s retirement on April 21, 2026. The footnotes explain that each unit represented a contingent right to receive one common share, which became deliverable upon this retirement-triggered vesting.

Was John W. Flora’s SHEN transaction a market purchase or sale?

The transaction was not a market purchase or sale; it was an exercise of restricted stock units into common shares at a stated price of $0.00. This reflects settlement of equity compensation rather than buying or selling shares on the open market.

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

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Accepted by SEC EDGAR 04/22/2026 - 04:39 PM EDT 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).

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^*

John W Flora

(Last) (First) (Middle)

PO BOX 459

500 SHENTEL WAY

(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)
04/21/2026

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	04/21/2026		M		9,863	A	(1)	66,060	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)	04/21/2026		M			9,863	04/21/2026(2)	(2)	Common Stock	9,863	$0	0	D

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 John W Flora	04/22/2026
	** 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)