Director gets stock in lieu of fees at Shenandoah (SHEN)

Rhea-AI Filing Summary

QUAGLIO KENNETH L reported acquisition or exercise transactions in this Form 4 filing.

Shenandoah Telecommunications Company director Kenneth L. Quaglio reported receiving a grant of 39.733 shares of Common Stock. The shares were received in lieu of director fees, meaning they are compensation rather than an open-market purchase or sale. Following this award, his direct ownership increased to 34,660.8389 Common shares.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider QUAGLIO KENNETH L

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	39.733	$15.73	$625.00

Holdings After Transaction: Common Stock — 34,660.839 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Shares granted: 39.733 shares Grant price per share: $15.7300 per share Total shares after grant: 34,660.8389 shares

3 metrics

Shares granted 39.733 shares Common Stock grant in lieu of director fees on May 4, 2026

Grant price per share $15.7300 per share Reported transaction price for the awarded shares

Total shares after grant 34,660.8389 shares Director’s direct Common Stock holdings following the transaction

Key Terms

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

3 terms

Grant, award, or other acquisition financial

"transaction code description is “Grant, award, or other acquisition” for the shares"

director fees financial

"footnote states the shares were “received in lieu of director fees”"

Common Stock financial

"security title for the non-derivative transaction is listed as “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.

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).

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^*

QUAGLIO KENNETH L

(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)		39.733	A	$15.73	34,660.8389	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 Kenneth L Quaglio	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 insider transaction did SHEN director Kenneth L. Quaglio report?

Kenneth L. Quaglio reported an acquisition of 39.733 shares of Shenandoah Telecommunications Common Stock. The shares were granted as compensation in lieu of director fees, not purchased in the market, and increased his direct holdings to 34,660.8389 shares after the transaction.

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

The Form 4 for SHEN shows no market buy or sell. Instead, director Kenneth L. Quaglio received 39.733 Common Stock shares as a grant, classified as a “Grant, award, or other acquisition,” specifically noted as shares received in lieu of director fees.

How many SHEN shares does Kenneth L. Quaglio own after this grant?

After receiving 39.733 shares as compensation, Kenneth L. Quaglio directly holds 34,660.8389 shares of Shenandoah Telecommunications Common Stock. This total reflects his position immediately following the reported non-derivative award transaction on the Form 4 filing.

What price per share was used for the SHEN director stock grant?

The stock grant to director Kenneth L. Quaglio used a value of $15.7300 per share. This figure is reported as the transaction price per share for the 39.733 Common Stock shares awarded in lieu of director fees, as disclosed in the Form 4.

How is the SHEN director stock grant categorized on the Form 4?

The SHEN director stock grant is categorized with transaction code “A,” described as a grant, award, or other acquisition. It is a non-derivative transaction in Common Stock, with shares received in lieu of director fees, rather than a conventional market trade.