Shenandoah (NASDAQ: SHEN) director gets stock award instead of fees

Rhea-AI Filing Summary

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

Shenandoah Telecommunications director Kenneth L. Quaglio received 40.5318 shares of Common Stock as compensation, in lieu of director fees. The shares were granted at a reference price of $15.42 per share and are held directly. Following this award, Quaglio owns 34,621.1059 Common shares directly.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider QUAGLIO KENNETH L

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	40.532	$15.42	$625.00

Holdings After Transaction: Common Stock — 34,621.106 shares (Direct)

Footnotes (1)

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Key Figures

Shares granted: 40.5318 shares Grant price: $15.42 per share Post-transaction holdings: 34,621.1059 shares

3 metrics

Shares granted 40.5318 shares Common Stock award in lieu of director fees on April 2, 2026

Grant price $15.42 per share Reference value for the Common Stock award

Post-transaction holdings 34,621.1059 shares Total direct Common Stock owned after the grant

Key Terms

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

4 terms

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.

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""

director fees financial

"Shares received in lieu of director fees."

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)
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)		40.5318	A	$15.42	34,621.1059	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	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 insider transaction did SHEN director Kenneth Quaglio report?

Director Kenneth L. Quaglio reported receiving 40.5318 shares of Shenandoah Telecommunications Common Stock as a stock grant. The award was provided in lieu of cash director fees and is recorded at a reference price of $15.42 per share as additional equity compensation.

Was the SHEN Form 4 transaction a market purchase or sale?

The Form 4 transaction was not a market purchase or sale. Kenneth Quaglio received 40.5318 Common shares as a grant in lieu of director fees, meaning it is compensation-related rather than an open-market trade, and does not reflect an active buy or sell decision.

How many SHEN shares does Kenneth Quaglio hold after this grant?

After the reported stock grant, Kenneth Quaglio directly holds 34,621.1059 shares of Shenandoah Telecommunications Common Stock. This figure includes the 40.5318 shares awarded as director compensation, illustrating his ongoing equity exposure as a member of the company’s board.

What does the $15.42 price on the SHEN stock grant represent?

The $15.42 figure represents the per-share value used to record the 40.5318-share award to Kenneth Quaglio. It reflects the reference or grant price for accounting and disclosure, rather than an executed market trade price for buying or selling shares.

Does the SHEN Form 4 indicate any derivative or option exercises?

The Form 4 does not report any derivative or option exercises for Kenneth Quaglio. It shows only a non-derivative Common Stock grant of 40.5318 shares received as director fees, with no accompanying option exercises or derivative positions disclosed in this filing.