Victor Christopher Barnes - 22 Feb 2023 Form 4 Insider Report for SHENANDOAH TELECOMMUNICATIONS CO/VA/ (SHEN)

Role: Director
Signature: Christopher E French Attorney in Fact for Victor C Barnes
Issuer symbol: SHEN
Transactions as of: 22 Feb 2023
Net transactions value: -$31,534
Form type: 4
Filing time: 23 Feb 2023, 14:09:42 UTC
Previous filing: 01 Feb 2023
Next filing: 01 Mar 2023
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		+6,027	+1642%		6,394	22 Feb 2023	Direct	F1
transaction	SHEN	Common Stock	Tax liability	$31,534	-1,672	-26%	$18.86	4,722	22 Feb 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	Disposed to Issuer	$0	-6,027	-100%	$0.000000^*	0	22 Feb 2023	Common Stock	6,027		Direct	F1
transaction	SHEN	Restricted Stock Unit	Award	$0	+6,893		$0.000000	6,893	22 Feb 2023	Common Stock	6,893		Direct	F1

* 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.