Shenandoah Telecommunications (SHEN) director receives shares in fee grant

Rhea-AI Filing Summary

Shenandoah Telecommunications director Michael Anthony Rhymes received a stock grant as part of his board compensation. He acquired 31.7864 shares of Common Stock on May 4, 2026 at a reference value of $15.73 per share, received in lieu of director fees.

After this grant, his direct holdings increased to 11,810.0063 shares of Common Stock. This was a compensation-related award, not an open-market purchase or sale.

Insider Trade Summary 10b5-1

1 transaction reported

Mixed 1 txn

Insider Rhymes Michael Anthony

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	31.786	$15.73	$500.00

Holdings After Transaction: Common Stock — 11,810.006 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Shares granted: 31.7864 shares Grant value per share: $15.73 per share Total holdings after grant: 11,810.0063 shares +2 more

5 metrics

Shares granted 31.7864 shares Common Stock grant on May 4, 2026

Grant value per share $15.73 per share Reference price for stock grant

Total holdings after grant 11,810.0063 shares Director’s direct Common Stock ownership after transaction

Transaction code A Grant, award, or other acquisition of non-derivative Common Stock

Transaction direction acquire Compensation-related stock award, not an open-market trade

Key Terms

Common Stock, Grant, award, or other acquisition, in lieu of director fees, non-derivative

4 terms

Common Stock financial

"He acquired 31.7864 shares of Common Stock on May 4, 2026"

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 regulatory

"The Form 4 classifies the event as a grant or award acquisition"

in lieu of director fees financial

"Shares received in lieu of director fees"

non-derivative financial

"The transaction is reported as a non-derivative Common Stock acquisition"

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 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)
05/04/2026

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	05/04/2026		A(1)		31.7864	A	$15.73	11,810.0063	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	05/04/2026
	** 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)

FAQ

What did SHEN director Michael Anthony Rhymes report in this Form 4?

He reported receiving a grant of Common Stock as compensation. The filing shows he acquired 31.7864 shares on May 4, 2026, received in lieu of director fees, increasing his direct holdings in Shenandoah Telecommunications.

How many Shenandoah Telecommunications (SHEN) shares were granted to the director?

The director received a grant of 31.7864 shares of Common Stock. These shares were issued as compensation in lieu of cash director fees, rather than purchased on the open market, according to the Form 4 footnote disclosure.

At what value were the SHEN shares granted to the director?

The shares were valued at $15.73 per share for the grant. This price is a reference amount used for the reported acquisition of 31.7864 Common Stock shares received instead of cash director fees, as disclosed in the Form 4.

What are Michael Anthony Rhymes’ SHEN holdings after this stock grant?

Following the grant, his direct ownership totals 11,810.0063 shares of Shenandoah Telecommunications Common Stock. This reflects his updated position after receiving 31.7864 shares as a compensation-related award in lieu of director fees.

Was this SHEN Form 4 transaction a market buy or sell?

No, it was not a market buy or sell. The Form 4 classifies the event as a grant or award acquisition, and the footnote explains the shares were received in lieu of director fees, making it a compensation-related issuance.