(SHEN)

Role: VP Chief HRO
Signature: /s/ Christopher E French Attorney in Fact for Heather K Tormey
Stock symbol: SHEN
Transactions as of: Oct 9, 2024
Transactions value $: -$10,417
Form type: 4
Date filed: 10/11/2024, 04:37 PM
Previous filing: May 13, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SHEN	Common Stock	Award	$0	+2.63K	+31.04%	$0.00	11.1K	Oct 9, 2024	Direct	F1
transaction	SHEN	Common Stock	Tax liability	-$10.4K	-791	-7.13%	$13.17	10.3K	Oct 9, 2024	Direct

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

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

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).

Explanation of Responses:

Id	Content
F1	Represents the vesting of performance-based Restricted Stock Units granted September 21, 2021. Performance for this award was measured based on the Issuer's relative total shareholder return (TSR) compared to the TSR of a group of companies in the NASDAQ Telecom Index with a Market Cap between 100 million and 100 billion, above and below the Issuer's then current Market Cap.