[Form 4] SHENANDOAH TELECOMMUNICATIONS CO/VA/ Insider Trading Activity

Rhea-AI Filing Summary

BARNES VICTOR CHRISTOPHER reported acquisition or exercise transactions in this Form 4 filing.

Shenandoah Telecommunications director Victor Christopher Barnes received a stock grant of 52.9617 shares of Common Stock as compensation in lieu of director fees. The shares were valued at $15.42 per share for reporting purposes, bringing his directly held stake to 24,438.4502 shares after the award.

Insider Trade Summary 10b5-1

1 transaction reported

Mixed 1 txn

Insider BARNES VICTOR CHRISTOPHER

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	52.962	$15.42	$816.67

Holdings After Transaction: Common Stock — 24,438.45 shares (Direct)

Footnotes (1)

1. [object Object]

Key Figures

Shares granted: 52.9617 shares Grant reference price: $15.42 per share Shares held after grant: 24,438.4502 shares

3 metrics

Shares granted 52.9617 shares Common Stock grant in lieu of director fees

Grant reference price $15.42 per share Reported transaction price for the stock grant

Shares held after grant 24,438.4502 shares Total directly held Common Stock following the transaction

Key Terms

Common Stock, Grant, award, or other acquisition, director fees

3 terms

Common Stock financial

"security_title: "Common Stock""

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

Grant, award, or other acquisition financial

"transaction_code_description: "Grant, award, or other acquisition""

director fees financial

"footnote: "Shares received in lieu of director fees.""

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

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^*

BARNES VICTOR CHRISTOPHER

(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)
04/02/2026

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	04/02/2026		A(1)		52.9617	A	$15.42	24,438.4502	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 Victor Barnes	04/02/2026
	** 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)

FAQ

What insider transaction did SHEN director Victor Christopher Barnes report?

Director Victor Christopher Barnes reported receiving 52.9617 SHEN Common Stock shares as a grant. The shares were issued in lieu of director fees, reflecting stock-based compensation rather than an open-market purchase, and increase his directly held ownership position in the company.

How many SHEN shares does Victor Christopher Barnes hold after this Form 4?

After the reported grant, Victor Christopher Barnes directly holds 24,438.4502 SHEN Common Stock shares. This total includes the 52.9617 shares received as director compensation, providing an updated picture of his direct equity stake in Shenandoah Telecommunications.

Was the SHEN Form 4 transaction a stock purchase or a grant?

The SHEN Form 4 transaction was a grant, not an open-market purchase. The filing classifies it as a grant, award, or other acquisition, and a footnote states the shares were received in lieu of director fees, indicating standard equity compensation.

At what price was the SHEN stock grant to Victor Christopher Barnes reported?

The 52.9617-share grant to Victor Christopher Barnes was reported at $15.42 per SHEN share. This price is used solely for Form 4 reporting purposes and helps calculate the value of the director fee compensation paid in company stock.

Does the SHEN Form 4 show any stock sales by Victor Christopher Barnes?

The Form 4 for SHEN shows no stock sales by Victor Christopher Barnes. It reports only a single acquisition transaction, a grant of 52.9617 Common Stock shares as director fee compensation, with no corresponding dispositions or derivative exercises.