Edward H. McKay - 07 Jul 2021 Form 4 Insider Report for SHENANDOAH TELECOMMUNICATIONS CO/VA/ (SHEN)

Role: Executive VP & COO
Signature: Edward H McKay
Issuer symbol: SHEN
Transactions as of: 07 Jul 2021
Transactions value $: -$55,873
Form type: 4
Filing time: 08 Jul 2021, 17:01:20 UTC
Next filing: 23 Sep 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SHEN	Common Stock	Award	$55.9K	+8.08K	+27.83%	$6.92	37.1K	07 Jul 2021	Direct
transaction	SHEN	Common Stock	Tax liability	-$55.9K	-914	-2.46%	$61.13	36.2K	07 Jul 2021	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	Incentive Stock Opiton	Exercise of in-the-money or at-the-money derivative security	-$55.9K	-8.08K	-70.3%	$6.92	3.41K	07 Jul 2021	Common Stock	8.08K	$6.92	Direct	F1

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

Explanation of Responses:

Id	Content
F1	The option vests one-fourth on each the first, second, third and fourth anniversary. The options (and shares issuable upon exercise of the option) are subject to cancellation and forfeiture in accordance with the Company's executive compensation recovery policy.