Koontz Richard L Jr 4

What Happened

• Richard L. Koontz Jr., a director of Shenandoah Telecommunications Co. (SHEN), reported derivative activity and an equity award. On 2026-02-18 he exercised/converted 10,924 derivative shares (transaction code M). Those 10,924 shares are also reported as disposed the same date with $0 proceeds. On 2026-02-19 he was granted 9,863 restricted stock units (RSUs) at $0 (transaction code A). No cash purchase or open-market sale value is reported for these items.

Key Details

• Transaction dates and reported prices:
  • 2026-02-18: Exercise/conversion of 10,924 derivative shares (M); acquisition price shown as N/A and the same 10,924 shares reported disposed at $0.
  • 2026-02-19: Grant/award of 9,863 RSUs (A) at $0.
• Shares owned after the transactions: not specified in the provided filing excerpt.
• Footnote: Each RSU equals a contingent right to receive one share of common stock upon vesting/settlement.
• Filing timeliness: Form 4 filed 2026-02-20 for transactions dated 2026-02-18–02-19 — appears filed within the standard two-business-day window.

Context

• The “M” code denotes exercise/conversion of a derivative (e.g., options). The simultaneous reporting of the exercised shares as disposed with $0 proceeds often reflects a non-cash net settlement or shares withheld for taxes or exercise costs rather than an open-market sale; the filing does not state the exact mechanism.
• The RSU grant is an award (no cash outlay) and represents a future right to receive shares if/when the RSUs vest and are settled. Such awards are common compensation and do not necessarily indicate immediate buy/sell sentiment.