SCHULTZ LEIGH ANN reported acquisition or exercise transactions in this Form 4 filing.
Shenandoah Telecommunications director Leigh Ann Schultz reported receiving 48.912 shares of Common Stock on March 2, 2026, valued at $13.63 per share, as shares received in lieu of director fees. After this grant, her direct holdings rose to 34,131.0448 shares, with an additional 38 shares held indirectly through her spouse.
Shenandoah Telecommunications director Michael Anthony Rhymes reported an equity grant of company stock. On March 2, 2026, he acquired 36.6838 shares of Common Stock at a stated price of $13.63 per share, received in lieu of director fees. After this grant, his directly held ownership increased to 11,745.7945 shares of Shenandoah Telecommunications common stock.
Shenandoah Telecommunications director Kenneth L. Quaglio reported an acquisition of common stock through a grant of fees paid in shares. He received 45.8547 shares at $13.63 per share, described as shares received in lieu of director fees, bringing his direct holdings to 34,580.5741 shares.
Shenandoah Telecommunications director reports stock award in lieu of fees. Director Richard L. Koontz Jr. acquired 36.6838 shares of common stock on March 2, 2026 at a price of $13.63 per share as a grant in lieu of director fees. After this award, his directly held stake increased to 71,642.7974 shares.
Fitzsimmons Tracy reported acquisition or exercise transactions in this Form 4 filing.
Shenandoah Telecommunications director shares awarded in lieu of fees
Director Tracy Fitzsimmons received a grant of 76.4248 shares of common stock on 2026-03-02, taken as payment in lieu of director fees. The shares were valued at $13.6300 per share, bringing Fitzsimmons’ directly held stake to 53,121.9591 shares after the award.
Shenandoah Telecommunications director Thomas Beckett reported acquiring 29.347 shares of common stock on March 2, 2026. The shares were received in lieu of director fees, reflecting compensation paid in stock rather than cash. After this grant, his direct ownership increased to 30,799.2768 common shares.
Shenandoah Telecommunications director Victor Christopher Barnes received a stock award instead of cash fees. On March 2, 2026, he acquired 59.9171 shares of common stock at $13.63 per share as compensation in lieu of director fees. After this grant, his directly owned stake increased to 24,385.4885 shares of common stock.
SHENANDOAH TELECOMMUNICATIONS CO/VA/ Executive Chairman Christopher E. French reported an internal trust distribution involving the company’s common stock. A trust where he serves as trustee distributed 2,249 shares of common stock to a beneficiary, described as a distribution from trust to beneficiary, with no price reported for the transfer.
Following this distribution, that trust held 125,387 shares of common stock. The filing also lists Mr. French’s other holdings as of the same date, including 483,576 shares held directly and multiple indirect family and trust-related positions, such as shares held by his spouse and children and in various family trusts, some of which he disclaims beneficial ownership where he has no pecuniary interest.
Shenandoah Telecommunications Company (Shentel) registered 4,116,050 shares of its common stock for resale by a selling shareholder. The registration covers shares issued to LIF Vista, LLC pursuant to the Merger Agreement and restricted stock units transferred upon vesting, and permits sales from time to time by the Selling Shareholder.
Shares outstanding were 55,301,648 as of February 23, 2026. The Company will not receive proceeds from secondary sales; proceeds will go to the Selling Shareholder. The prospectus lists a last reported Nasdaq sale price of $13.55 per share on February 25, 2026.
Shenandoah Telecommunications Company outlines a fiber-focused broadband business serving eight eastern states, with about 19,000 route miles of fiber and roughly 262,000 revenue-generating units as of December 31, 2025.
A major 2025 development was a securitized financing: Shentel Issuer closed $567.4 million of secured fiber network revenue term notes, split between $489.1 million 5.64% Class A-2 notes and $78.3 million 6.03% Class B notes, plus a $175.0 million variable funding note facility and a $25 million liquidity facility. A separate $175.0 million revolving credit facility was arranged at Shentel Broadband Operations. Proceeds were used to repay existing debt, effectively refinancing the capital structure around fiber assets.
The company is aggressively expanding its Glo Fiber FTTH footprint, with incumbent broadband passing about 252,000 locations and Glo Fiber passing about 427,000. It benefits from public funding, including approximately $122.8 million of grants to serve around 26,900 unserved homes and $27.5 million for middle-mile networks in Ohio, alongside a prior $0.9 million Rural Digital Opportunity Fund award. Key risks highlighted include intensifying broadband competition, rising programming and retransmission costs, heavy capital needs, regulatory uncertainty, cybersecurity threats and execution risk around large grant-funded buildouts and securitized debt covenants.