(SHEN)

Role: SVP & Chief Info Officer
Signature: /s/ Christopher E French Attorney in Fact for Elaine Cheng
Stock symbol: SHEN
Transactions as of: Feb 20, 2025
Transactions value $: -$43,899
Form type: 4
Date filed: 2/24/2025, 04:29 PM
Previous filing: Feb 20, 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		+9.28K	+52.23%		27K	Feb 20, 2025	Direct	F1
transaction	SHEN	Common Stock	Tax liability	-$43.9K	-3.71K	-13.46%	$11.82	23.9K	Feb 20, 2025	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	Ownership	Footnotes
transaction	SHEN	Restricted Stock Unit	Options Exercise	$0	-1.79K	-4.22%	$0.00	40.6K	Feb 20, 2025	Common Stock	1.79K	Direct	F1, F2
transaction	SHEN	Restricted Stock Unit	Options Exercise	$0	-2.28K	-5.62%	$0.00	38.3K	Feb 15, 2024	Common Stock	2.28K	Direct	F1, F3
transaction	SHEN	Restricted Stock Unit	Options Exercise	$0	-2.68K	-7%	$0.00	35.6K	Feb 15, 2024	Common Stock	2.68K	Direct	F1, F3
transaction	SHEN	Restricted Stock Unit	Options Exercise	$0	-2.53K	-7.09%	$0.00	33.1K	Feb 20, 2025	Common Stock	2.53K	Direct	F1, F3

* 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	Each restricted stock unit represents a contingent right to receive one share of common stock.
F2	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.
F3	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.