Heather K. Tormey - Feb 16, 2023 Form 4 Insider Report for SHENANDOAH TELECOMMUNICATIONS CO/VA/ (SHEN)

Role
VP & Chief HRO
Signature
Christopher E French Atty in Fact for Heather Banks
Stock symbol
SHEN
Transactions as of
Feb 16, 2023
Transactions value $
-$30,227
Form type
4
Date filed
2/21/2023, 09:19 AM
Previous filing
Feb 3, 2023
Next filing
Feb 23, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SHEN Common Stock Options Exercise +4.43K +350.43% 5.7K Feb 16, 2023 Direct F1
transaction SHEN Common Stock Tax liability -$30.2K -1.57K -27.5% $19.29 4.13K Feb 16, 2023 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 -549 -4.15% $0.00 12.7K Feb 16, 2023 Common Stock 549 Direct F1, F2
transaction SHEN Restricted Stock Unit Options Exercise $0 -700 -5.51% $0.00 12K Feb 16, 2023 Common Stock 700 Direct F1, F2
transaction SHEN Restricted Stock Unit Options Exercise $0 -1.45K -12.06% $0.00 10.5K Feb 16, 2023 Common Stock 1.45K Direct F1, F3
transaction SHEN Restricted Stock Unit Options Exercise $0 -1.74K -16.48% $0.00 8.81K Feb 16, 2023 Common Stock 1.74K 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.
F3 The restricted stock unit award vests 10% in February 2022; and then 30% each in February 2023, February 2024, and February 2025. 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.