Shenandoah Telecommunications (SHEN) director granted stock in lieu of fees

Rhea-AI Filing Summary

Shenandoah Telecommunications director receives stock instead of fees. Director Michael Anthony Rhymes was awarded 42.123 shares of common stock of Shenandoah Telecommunications Co. on February 2, 2026, at a price of $11.87 per share, as compensation in lieu of director fees.

After this award, Rhymes beneficially owned a total of 3,188.1107 shares of Shenandoah Telecommunications common stock, held directly.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Rhymes Michael Anthony

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	42.123	$11.87	$500.00

Holdings After Transaction: Common Stock — 3,188.111 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

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 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)
02/02/2026

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	02/02/2026		A(1)		42.123	A	$11.87	3,188.1107	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	02/03/2026
	** 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.

FAQ

What did Shenandoah Telecommunications (SHEN) director Michael Rhymes report on this Form 4?

Director Michael Anthony Rhymes reported receiving 42.123 shares of Shenandoah Telecommunications common stock on February 2, 2026. These shares were awarded as compensation in lieu of director fees, increasing his directly held beneficial ownership to a total of 3,188.1107 shares.

How many SHEN shares did the director receive and at what price?

The director received 42.123 shares of Shenandoah Telecommunications common stock at a price of $11.87 per share. This transaction represents stock-based compensation rather than a market purchase, as the shares were issued in lieu of standard cash director fees.

Is the Shenandoah Telecommunications (SHEN) director’s ownership direct or indirect?

The filing shows that Michael Anthony Rhymes holds his Shenandoah Telecommunications shares directly. After receiving 42.123 shares as director fee compensation, his directly held beneficial ownership stands at 3,188.1107 shares of the company’s common stock.

What is the total SHEN share ownership reported by the director after this transaction?

Following the February 2, 2026 stock compensation, the director’s beneficial ownership totals 3,188.1107 shares of Shenandoah Telecommunications common stock. This figure includes the newly received 42.123 shares granted in lieu of director fees, all reported as directly owned.

Was this SHEN Form 4 transaction a stock purchase or compensation grant?

This Form 4 reflects a compensation grant, not an open-market purchase. The 42.123 shares of Shenandoah Telecommunications common stock were received in lieu of director fees, as explicitly stated in the footnote, and are therefore classified as an acquisition of shares as compensation.

What transaction code is used in the SHEN director’s Form 4 and what does it signify?

The transaction uses code “A,” indicating an acquisition of securities. In this case, the 42.123 Shenandoah Telecommunications shares were acquired as a grant in lieu of director fees, rather than purchased on the open market, and are now part of the director’s direct holdings.