John W Flora 4

What Happened

• John W. Flora, a director of Shenandoah Telecommunications Co. (SHEN), exercised/converted 10,924 derivative units on 2026-02-18 (reported as an acquisition) and a matching 10,924 derivative units were reported as disposed on 2026-02-18 at $0.00. The filing also shows a grant/award of 9,863 restricted stock units (RSUs) to Flora on 2026-02-19, reported at $0.00. No cash amounts or market values are reported in the filing.

Key Details

• Transaction dates and codes:
  • 2026-02-18: Exercise/conversion of derivative (Form 4 code M) — 10,924 shares acquired (price listed N/A).
  • 2026-02-18: Simultaneous disposition of 10,924 derivative shares at $0.00 (reported as derivative disposal).
  • 2026-02-19: Grant/award (code A) — 9,863 RSUs at $0.00.
• Footnote: Each restricted stock unit (RSU) represents a contingent right to receive one share of common stock.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Filing timeliness: Report filed 2026-02-20 for transactions on 2026-02-18 and 2026-02-19 — appears to be a timely Form 4 (generally due within two business days).

Context

• The 10,924-unit exercise/conversion (M) indicates a derivative was converted into stock; the subsequent $0.00 disposition is commonly how filings show shares surrendered or otherwise used in settlement (the filing classifies this as a derivative disposal). The 9,863 RSUs are awards that vest into shares in the future (each RSU equals a contingent right to one share). These entries report transaction mechanics and award grants; they do not by themselves indicate a cash purchase or open-market sale.