Director at Shenandoah Telecommunications (SHEN) receives stock grant in lieu of fees

Rhea-AI Filing Summary

Shenandoah Telecommunications director Tracy Fitzsimmons received a small stock grant as compensation. On April 2, 2026, Fitzsimmons acquired 67.5532 shares of Common Stock at an indicated value of $15.42 per share, taken in lieu of director fees rather than as a market purchase.

After this grant, Fitzsimmons directly holds a total of 53,189.5123 shares of Common Stock. The transaction is classified as a grant, award, or other acquisition, reflecting routine equity-based director compensation rather than an open-market trade.

Insider Trade Summary 10b5-1

1 transaction reported

Mixed 1 txn

Insider Fitzsimmons Tracy

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	67.553	$15.42	$1K

Holdings After Transaction: Common Stock — 53,189.512 shares (Direct)

Footnotes (1)

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Key Figures

Shares granted: 67.5532 shares Grant value per share: $15.42 per share Total shares after transaction: 53,189.5123 shares +1 more

4 metrics

Shares granted 67.5532 shares Director stock grant on April 2, 2026

Grant value per share $15.42 per share Reporting value for Common Stock grant

Total shares after transaction 53,189.5123 shares Director’s direct holdings after grant

Number of acquire-type transactions 1 transaction Non-derivative acquisition classified as grant/award

Key Terms

Common Stock, Grant, award, or other acquisition, in lieu of director fees, Form 4

4 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""

in lieu of director fees financial

"Footnote: "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).

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^*

Fitzsimmons Tracy

(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)		67.5532	A	$15.42	53,189.5123	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 Tracy Fitzsimmons	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 did SHEN director Tracy Fitzsimmons report in this Form 4?

Director Tracy Fitzsimmons reported receiving a small stock grant in Shenandoah Telecommunications. She acquired 67.5532 shares of Common Stock as compensation taken in lieu of director fees, increasing her direct holdings to 53,189.5123 shares after the transaction.

Was the SHEN Form 4 transaction an open-market buy or sell?

The Form 4 transaction was not an open-market trade. It was a grant or award acquisition, where 67.5532 shares of Common Stock were received as compensation in lieu of director fees, rather than shares being bought or sold on the market.

How many SHEN shares did Tracy Fitzsimmons hold after this grant?

After the reported grant, Tracy Fitzsimmons directly held 53,189.5123 shares of Shenandoah Telecommunications Common Stock. This total includes the 67.5532 shares received on April 2, 2026 as compensation in lieu of director fees, classified as a routine equity award.

What price per share is shown for the SHEN director stock grant?

The Form 4 shows a value of $15.42 per share for the 67.5532 Shenandoah Telecommunications Common Stock shares granted. This value is used for reporting the grant taken in lieu of director fees and does not represent an open-market transaction price.

How significant is the 67.5532-share grant relative to Fitzsimmons’ SHEN holdings?

The 67.5532-share grant is small compared with Tracy Fitzsimmons’ total direct holdings of 53,189.5123 shares. It reflects routine director compensation in stock rather than a sizable portfolio change or major trading decision in Shenandoah Telecommunications shares.

Why did the SHEN director receive shares instead of cash fees?

According to the Form 4 footnote, the shares were received in lieu of director fees. This means Shenandoah Telecommunications compensated director Tracy Fitzsimmons with 67.5532 Common Stock shares instead of paying equivalent cash fees for board service.