JAMES J. VOLK - 16 Feb 2023 Form 4 Insider Report for SHENANDOAH TELECOMMUNICATIONS CO/VA/ (SHEN)

Role
SR VP, FINANCE & CFO
Signature
Christopher E French Atty in Fact for James J Volk Sr
Issuer symbol
SHEN
Transactions as of
16 Feb 2023
Net transactions value
-$55,131
Form type
4
Filing time
21 Feb 2023, 08:59:48 UTC
Previous filing
03 Feb 2023
Next filing
23 Feb 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 +10,489 +78% 23,973 16 Feb 2023 Direct F1
transaction SHEN Common Stock Tax liability $55,131 -2,858 -12% $19.29 21,115 16 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 Options Exercise $0 -1,634 -5.5% $0.000000 28,298 16 Feb 2023 Common Stock 1,634 Direct F1, F2
transaction SHEN Restricted Stock Unit Options Exercise $0 -2,108 -7.4% $0.000000 26,190 16 Feb 2023 Common Stock 2,108 Direct F1, F2
transaction SHEN Restricted Stock Unit Options Exercise $0 -2,906 -11% $0.000000 23,284 16 Feb 2023 Common Stock 2,906 Direct F1, F3
transaction SHEN Restricted Stock Unit Options Exercise $0 -3,841 -16% $0.000000 19,443 16 Feb 2023 Common Stock 3,841 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.