FRENCH CHRISTOPHER E 4

4 · SHENANDOAH TELECOMMUNICATIONS CO/VA/ · Filed Feb 23, 2026

AI-generated summary of this filing

Updated Feb 23, 2026

Shenandoah Telecom CEO Christopher French Exercises Derivatives, Receives RSUs

What Happened

Christopher E. French, President & CEO of Shenandoah Telecommunications Co. (SHEN), executed a set of derivative conversions/exercises on Feb 19, 2026 that involved 47,488 shares (reported as acquired and simultaneously disposed in equal amounts) and received a separate grant of 36,039 restricted stock units (RSUs). The exercise/conversion entries are recorded with no cash proceeds ($0.00 or N/A) and the RSU grant is reported at $0.00 value (typical for equity awards). The disposed shares equal the number acquired (47,488), indicating a net settlement or share withholding rather than an open-market sale.

Key Details

Transaction date: Feb 19, 2026; Form filed Feb 23, 2026 (timely filing).
Derivative exercise/conversion: 47,488 shares acquired (code M); matching disposals of 7,786; 10,960; 10,315; and 18,427 shares (all reported at $0.00).
Award/grant: 36,039 restricted stock units granted (code A) at $0.00; each RSU represents a contingent right to one share.
Shares owned after transaction: not specified in the provided filing excerpt.
Footnotes of note:
- F1: Some shares are held in trust for relatives; Mr. French disclaims beneficial ownership of those he has no pecuniary interest in.
- F2: Each RSU represents a contingent right to one share.
- F3: RSUs vest 25% on each of the first four anniversaries and are subject to the company’s executive compensation recovery (clawback) policy.
Interpretation: the zero-dollar disposals tied to the exercise typically reflect net-share settlement or withholding for taxes/fees rather than an open-market sale.

Context

The filings show an equity award (RSUs) and conversion/exercise of derivatives rather than a cash purchase or a typical open-market sale. RSU grants are forward-looking compensation and vest over time; exercises that are net-settled do not necessarily signal a CEO’s view of the company’s near-term prospects. This activity should be read as routine compensation and exercise mechanics unless accompanied by large open-market buys or sales.

Form 4

Period: 2026-02-19

Executive Chairman

Transactions

Exercise/Conversion
Common Stock
[F2]
2026-02-19+47,488→ 483,576 total
Exercise/Conversion
Restricted Stock Unit
[F2][F3]
2026-02-19−7,786→ 126,575 total
Exp: 2026-02-19→ Common Stock (7,786 underlying)
Exercise/Conversion
Restricted Stock Unit
[F2][F3]
2026-02-19−10,960→ 115,615 total
Exp: 2027-02-18→ Common Stock (10,960 underlying)
Exercise/Conversion
Restricted Stock Unit
[F2][F3]
2026-02-19−10,315→ 105,300 total
Exp: 2028-02-17→ Common Stock (10,315 underlying)
Exercise/Conversion
Restricted Stock Unit
[F2][F3]
2026-02-19−18,427→ 86,873 total
Exp: 2029-02-15→ Common Stock (18,427 underlying)
Award
Restricted Stock Unit
[F2][F3]
2026-02-19+36,039→ 122,912 total
Exp: 2030-02-21→ Common Stpcl (36,039 underlying)

Holdings

Footnotes (3)

[F1]These shares are held in trust for the benefit of certain relatives of Mr. French. Mr. French disclaims beneficial ownership of the shares as to which he has no pecuniary interest and this filing is not an admission that Mr. French is the beneficial owner of such shares.
[F2]Each restricted stock unit represents a contingent right to receive one share of common stock.
[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.

Signature

Christopher E French|2026-02-23

1 file