Shenandoah Telecommunications SEC Filings

Richard L. Koontz Jr., a director of Shenandoah Telecommunications Co. (SHEN), reported acquiring 37.7358 shares of the issuer on 09/02/2025. The shares were issued in lieu of director fees at a reported price of $13.25 per share under a transaction checked as made pursuant to a written plan intended to satisfy Rule 10b5-1(c).

After the transaction Mr. Koontz beneficially owned 59,884.1475 shares (reported as direct ownership). The Form 4 was signed by Christopher E. French as attorney-in-fact for Mr. Koontz.

Tracy Fitzsimmons, a director of Shenandoah Telecommunications Co (SHEN), received 78.6166 shares of common stock on 09/02/2025 as payment in lieu of director fees at a price of $13.25 per share. After this transaction, the filing reports Ms. Fitzsimmons beneficially owns 44,717.1923 shares. The Form 4 indicates the transaction was made pursuant to a written plan intended to satisfy the Rule 10b5-1(c) affirmative defense and was signed by Christopher E. French as attorney-in-fact.

Thomas Beckett, a director of Shenandoah Telecommunications Co. (SHEN), received 30.1887 shares of common stock on 09/02/2025 in lieu of director fees at a price of $13.25 per share. After the transaction, Mr. Beckett beneficially owned 22,709.759 shares, held directly. The Form 4 was signed by Christopher E. French as attorney-in-fact for Mr. Beckett on 09/02/2025.

This filing documents a routine compensation-related equity grant to a director rather than a purchase or sale in the open market; the disclosure itemizes the transaction date, price per share used for the in-lieu issuance, and the resulting direct ownership stake.

Victor Christopher Barnes, a director of Shenandoah Telecommunications Co. (SHEN), received 61.6355 shares of the company's common stock on 09/02/2025 as payment in lieu of director fees at an implied price of $13.25 per share. After this issuance, the filing reports Mr. Barnes beneficially owns 16,030.263 shares.

The Form 4 was filed under a Section 16 reporting exemption and indicates the transaction was made pursuant to a written plan intended to satisfy Rule 10b5-1(c) conditions. The report was executed by Christopher E. French as attorney-in-fact for Mr. Barnes on 09/02/2025.

INSIDER PURCHASES REPORTED ECP-related entities disclosed two open-market purchases of Shenandoah Telecommunications Co. (SHEN) common stock on 08/28/2025 and 08/29/2025. On 08/28/2025 the reporting persons purchased 14,358 shares at a weighted-average price of $13.2633, bringing their beneficial ownership to 3,365,233 shares. On 08/29/2025 they purchased 12,000 shares at a weighted-average price of $13.2515, increasing total reported beneficial ownership to 3,377,233 shares.

The shares are held of record by Hill City and beneficial ownership is reported indirectly through a chain of ECP entities and funds managed by ECP ControlCo, LLC. Footnotes state the price ranges for the weighted averages and note multiple related entities filed separate Form 4s due to electronic filing limits.

Insiders associated with ECP and Hill City increased their indirect holdings in Shenandoah Telecommunications Co (SHEN) through open-market purchases. On 08/28/2025 the reporting group acquired 14,358 shares at a weighted-average price of $13.2633, bringing indirect beneficial ownership to 3,365,233 shares. On 08/29/2025 they acquired an additional 12,000 shares at a weighted-average price of $13.2515, increasing indirect ownership to 3,377,233 shares. The filings identify the complex ownership chain linking Hill City and Energy Capital Partners entities and note that the reported prices reflect multiple trades within stated ranges. The Forms are signed by authorized representatives on 09/02/2025.

Form 4 filings show affiliated Energy Capital Partners entities purchased shares of Shenandoah Telecommunications Co. (SHEN) on August 26-27, 2025. The filings report an aggregate acquisition of 7,253 shares: 7,053 shares on 08/26/2025 at a weighted-average price of $13.2659 (prices ranged $13.24–$13.30) and 200 shares on 08/27/2025 at a weighted-average price of $13.345 (prices ranged $13.34–$13.35). After these purchases the reported amount of Common Stock beneficially owned increased from 3,350,675 to 3,350,875 shares, held of record by Hill City and reported indirectly by multiple ECP-related entities. The filings identify ECP ControlCo, LLC and related ECP funds as directors and 10% owners and include detailed footnotes describing the ownership chain and signatories.

Form 4 filing shows multiple insider purchases of Shenandoah Telecommunications Co. (SHEN) common stock by related entities. On 08/26/2025, 7,053 shares were acquired at a weighted-average price of $13.2659, and on 08/27/2025 an additional 200 shares were acquired at a weighted-average price of $13.345. After these transactions, the reporting persons beneficially owned 3,350,675 and 3,350,875 shares respectively as reported. The filings list ECP Fiber Holdings GP, LLC, ECP Fiber Holdings, LP, Hill City Holdings GP, LLC and Hill City Holdings, LP as reporting persons and describe an indirect ownership chain through Hill City and Energy Capital Partners entities. Signatures on the forms are dated 08/28/2025.

Shenandoah Telecommunications Co. (SHEN) insiders reported small open-market purchases increasing their indirect holdings. Entities including ECP Fiber Holdings GP, LLC and related Hill City entities bought 4,000 shares on 08/22/2025 at a weighted-average price of $13.09 and 1,500 shares on 08/25/2025 at a weighted-average price of $13.0989. After those purchases the reported indirect beneficial ownership rose from 3,342,122 to 3,343,622 shares. Footnotes describe a layered ownership and control structure through Energy Capital Partners and related entities and identify the reporting persons as directors and 10% owners. The Forms are signed and dated 08/26/2025.