GCM Grosvenor Inc. - 18 Feb 2026 Form 4 Insider Report for SHENANDOAH TELECOMMUNICATIONS CO/VA/ (SHEN)

Signature
GCM Grosvenor Inc., By: /s/ Burke J. Montgomery, Authorized Signatory
Issuer symbol
SHEN
Transactions as of
18 Feb 2026
Net transactions value
$0
Form type
4
Filing time
19 Feb 2026, 17:02:15 UTC
Previous filing
29 Jul 2025
Next filing
23 Feb 2026

Reporting Owners (9)

Name Relationship Address Signature Signature date CIK
GCM Grosvenor Inc. Director, Other* 900 NORTH MICHIGAN AVENUE, SUITE 1100, CHICAGO GCM Grosvenor Inc., By: /s/ Burke J. Montgomery, Authorized Signatory 19 Feb 2026 0001819796
LIF Vista, LLC Director, Other* 900 NORTH MICHIGAN AVENUE, SUITE 1100, CHICAGO LIF Vista, LLC, By: /s/ Burke J. Montgomery, Authorized Signatory 19 Feb 2026 0002023024
Labor Impact Fund, L.P. Director, Other* 900 NORTH MICHIGAN AVENUE, SUITE 1100, CHICAGO Labor Impact Fund, L.P., By: /s/ Burke J. Montgomery, Authorized Signatory 19 Feb 2026 0001751369
LIF AIV 1, L.P. Director, Other* 900 NORTH MICHIGAN AVENUE, SUITE 1100, CHICAGO LIF AIV 1, L.P., By: /s/ Burke J. Montgomery, Authorized Signatory 19 Feb 2026 0002023029
GCM Investments GP, LLC Director, Other* 900 NORTH MICHIGAN AVE, SUITE 1100, CHICAGO GCM Investments GP, LLC, By: /s/ Burke J. Montgomery, Authorized Signatory 19 Feb 2026 0001743984
Grosvenor Capital Management Holdings, LLLP Director, Other* 900 NORTH MICHIGAN AVE, SUITE 1100, CHICAGO Grosvenor Capital Management Holdings, LLLP, By: /s/ Burke J. Montgomery, Authorized Signatory 19 Feb 2026 0001743986
GCM Grosvenor Holdings, LLC Director, Other* 900 NORTH MICHIGAN AVENUE, SUITE 1100, CHICAGO GCM Grosvenor Holdings, LLC, By: /s/ Burke J. Montgomery, Authorized Signatory 19 Feb 2026 0001939480
GCM V, LLC Director, Other* 900 NORTH MICHIGAN AVENUE, SUITE 1100, CHICAGO GCM V, LLC, By: /s/ Burke J. Montgomery, Authorized Signatory 19 Feb 2026 0001831172
Sacks Michael Jay Director, Other* 900 NORTH MICHIGAN AVENUE, SUITE 1100, CHICAGO /s/ Michael J. Sacks 19 Feb 2026 0001509764

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SHEN Common Stock Options Exercise +10,924 10,924 18 Feb 2026 See footnote F1, F2, F3
holding SHEN Common Stock 4,105,126 18 Feb 2026 By LIF Vista, LLC F1, F4

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 Disposed to Issuer $0 -10,924 -100% $0.000000 0 18 Feb 2026 Common Stock 10,924 See footnote F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This Form 4 is filed jointly by LIF Vista, LLC ("LIF Vista"), Labor Impact Fund, L.P. ("Labor Fund"), LIF AIV 1, L.P. ("LIF AIV"), GCM Investments GP, LLC ("GCM GP"), Grosvenor Capital Management Holdings, LLLP ("Grosvenor Capital Holdings"), GCM Grosvenor Holdings, LLC ("GCM Holdings"), GCM Grosvenor Inc. ("GCM Grosvenor"), GCM V, LLC ("GCM V") and Michael J. Sacks (collectively, the "Reporting Persons"). Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein, and this report shall not be deemed to be an admission that any Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
F2 Each restricted stock unit represents a contingent right to receive one share of common stock.
F3 Represents securities awarded to James DiMola in his capacity as a director of the Issuer. Mr. DiMola currently serves as LIF Vista's director designee on the Board of Directors of the Issuer. In connection with this arrangement, any equity-based securities awarded to Mr. DiMola in his capacity as a director of the Issuer will be held by Mr. DiMola on behalf of LIF Vista or its affiliates, transferred by Mr. DiMola to LIF Vista or its affiliates, and/or sold by Mr. DiMola, with the proceeds of such sale to be remitted to LIF Vista or its affiliates, in each case as directed by LIF Vista. Accordingly, LIF Vista and the other Reporting Persons may be deemed to have a pecuniary interest in these securities when awarded to Mr. DiMola for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, and such securities were transferred by Mr. DiMola to LIF Vista upon vesting at the direction of LIF Vista.
F4 Securities owned directly by LIF Vista. Labor Fund and LIF AIV, as the owners of all the outstanding membership interests of LIF Vista, may be deemed to beneficially own such securities. GCM GP, as the managing member of LIF Vista and the general partner of each of Labor Fund and LIF AIV, may be deemed to beneficially own such securities. Grosvenor Capital Holdings, as the sole member of GCM GP, may be deemed to beneficially own such securities. GCM Holdings, as the general partner of Grosvenor Capital Holdings, may be deemed to beneficially own such securities. GCM Grosvenor, as the sole member of GCM Holdings, may be deemed to beneficially own such securities. GCM V, as a shareholder of GCM Grosvenor, may be deemed to beneficially own such securities. Mr. Sacks, as the manager of GCM V, may be deemed to beneficially own such securities.

Remarks:

The Reporting Persons may be deemed to be directors by deputization for purposes of Section 16 under the Securities Exchange Act of 1934, as amended, by virtue of the fact that James DiMola, a managing director of GCM Grosvenor L.P., an affiliate of the Reporting Persons, currently serves on the board of directors of the Issuer.