Shenandoah (NASDAQ: SHEN) director awarded shares as board fees

Rhea-AI Filing Summary

Beckett Thomas reported acquisition or exercise transactions in this Form 4 filing.

Shenandoah Telecommunications director Thomas Beckett reported a small share grant taken as fees. He received 25.4291 shares of common stock at $15.73 per share, described as shares received in lieu of director fees. After this compensation-related award, his direct holdings increased to 30,850.6462 shares of common stock.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Beckett Thomas

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common	25.429	$15.73	$400.00

Holdings After Transaction: Common — 30,850.646 shares (Direct, null)

Footnotes (1)

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Key Figures

Shares granted: 25.4291 shares Grant price: $15.73 per share Post-transaction holdings: 30,850.6462 shares +1 more

4 metrics

Shares granted 25.4291 shares Common stock grant in lieu of director fees

Grant price $15.73 per share Reported transaction price for the awarded shares

Post-transaction holdings 30,850.6462 shares Total common shares directly held after the grant

Transaction code A Grant, award, or other acquisition of common stock

Key Terms

Grant, award, or other acquisition, director fees, Form 4

3 terms

Grant, award, or other acquisition financial

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

director fees financial

"Footnote states: "Shares received in lieu of director fees.""

Form 4 regulatory

"INSIDER FILING DATA (Form 4): {"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

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^*

Beckett Thomas

(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	05/04/2026		A(1)		25.4291	A	$15.73	30,850.6462	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 Thomas Beckett	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 Thomas Beckett report?

Director Thomas Beckett reported receiving 25.4291 SHEN common shares. The shares were granted as compensation in lieu of director fees, not bought on the open market, and increased his directly held position modestly.

Was the SHEN Form 4 transaction an open-market purchase or a grant?

The transaction was a grant, not an open-market purchase. The Form 4 shows code “A” for a grant, award, or other acquisition, with shares received in lieu of director fees as part of routine board compensation.

How many SHEN shares does Thomas Beckett hold after this grant?

After the grant, Thomas Beckett directly holds 30,850.6462 SHEN common shares. This figure reflects his position immediately following receipt of 25.4291 shares awarded as director fee compensation, based on the Form 4 disclosure.

What price per share is shown in the SHEN director share grant?

The filing lists a transaction price of $15.73 per share for the 25.4291 common shares. This value is used for reporting the grant’s fair value, even though the shares were received as director fees rather than bought in the market.

Does the SHEN Form 4 indicate any insider selling activity?

No insider selling is reported in this Form 4. The transaction summary shows one acquisition entry and zero sales or dispositions, reflecting only a grant of shares as director fee compensation to Thomas Beckett.