SHEN director receives 42.123 shares as fees

Shenandoah Telecommunications Company director Richard L. Koontz Jr. received an award of common stock as part of his board compensation.

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Rhea-AI Filing Summary

Shenandoah Telecommunications Company director Richard L. Koontz Jr. received an award of common stock as part of his board compensation. On 02/02/2026, he acquired 42.123 shares of common stock at $11.87 per share, described as shares received in lieu of director fees. Following this transaction, he directly beneficially owned 60,682.1136 shares of Shenandoah Telecommunications common stock.

Insider Trade Summary

Grant/Award: 42.123 shares

Grant/Award 1 txn

Insider Koontz Richard L Jr

Role Director

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

Holdings After Transaction: Common Stock — 60,682.1136 shares (Direct)

Footnotes (1)

F1. Shares received in lieu of director fees.

FAQ

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

Director Richard L. Koontz Jr. reported acquiring 42.123 shares of Shenandoah Telecommunications common stock. The shares were received on 02/02/2026 as compensation in lieu of director fees, reflecting a routine equity-based payment rather than an open-market purchase or sale.

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

The 42.123 Shenandoah Telecommunications common shares awarded to director Richard L. Koontz Jr. were valued at $11.87 per share. This price is used in the Form 4 to report the value of the stock compensation granted in lieu of traditional cash director fees.

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

After receiving 42.123 shares, director Richard L. Koontz Jr. beneficially owns 60,682.1136 Shenandoah Telecommunications common shares directly. This figure, reported in the Form 4, represents his total direct holdings following the 02/02/2026 stock compensation transaction.

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

The SHEN Form 4 transaction reflects a compensation grant, not an open-market purchase. A footnote states the 42.123 common shares were “shares received in lieu of director fees,” meaning stock was used to pay board compensation instead of cash.

Does the SHEN Form 4 show any derivative securities for Richard L. Koontz Jr.?

The Form 4 excerpt lists no derivative securities for Richard L. Koontz Jr. Table II, which would show options or similar instruments, contains no reported transactions, indicating only a non-derivative common stock compensation award is disclosed here.

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Accepted by SEC EDGAR 02/03/2026 - 05:06 PM EST

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

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)
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	02/02/2026		A⁽¹⁾		42.123	A	$11.87	60,682.1136	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	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.

Source: View Original Filing on SEC EDGAR