DARA LESLIE - 15 Feb 2024 Form 4 Insider Report for SHENANDOAH TELECOMMUNICATIONS CO/VA/ (SHEN)

Role: SVP Sales & Marketing
Signature: Christopher E French Attorney in Fact for Dara Leslie
Issuer symbol: SHEN
Transactions as of: 15 Feb 2024
Net transactions value: -$19,434
Form type: 4
Filing time: 20 Feb 2024, 09:23:04 UTC
Previous filing: 15 Feb 2024
Next filing: 05 Feb 2025
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SHEN	Common Stock	Options Exercise		+2,817	+577%		3,305	15 Feb 2024	Direct	F1
transaction	SHEN	Common Stock	Tax liability	$19,434	-989	-30%	$19.65	2,316	15 Feb 2024	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	SHEN	Restricted Stock Unit	Options Exercise	$0	-756	-4.1%	$0.000000	17,517	15 Feb 2024	Common Stock	756		Direct	F1, F2
transaction	SHEN	Restricted Stock Unit	Options Exercise	$0	-2,061	-12%	$0.000000	15,456	15 Feb 2024	Common Stock	2,061		Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each restricted stock unit represents a contingent right to receive one share of common stock.
F2	The restricted stock unit award vests one-fourth on each the first, second, third and fourth anniversary. The restricted stock unit award (and shares issuable upon exercise of the restricted stock unit award) are subject to cancellation and forfeiture in accordance with the Company's executive compensation recovery policy.