CHENG ELAINE 4
4 · SHENANDOAH TELECOMMUNICATIONS CO/VA/ · Filed Feb 23, 2026
Research Summary
AI-generated summary of this filing
Shenandoah (SHEN) SVP Elaine Cheng Receives RSU Award & Converts Units
What Happened
Elaine Cheng, Senior Vice President and Chief Information Officer of Shenandoah Telecommunications Co. (SHEN), was credited with a 19,332-share restricted stock unit (RSU) award and had 11,961 derivative units converted into shares on Feb 19, 2026. The filing shows 3,654 shares were surrendered to cover tax withholding at $13.18 per share, totaling $48,160. Several additional conversion/disposition line items are reported at $0, which reflect share settlement/transfer activity related to the derivative awards.
Key Details
- Transaction date: 2026-02-19; Form filed: 2026-02-23 (timely filing).
- Acquisitions: 19,332 shares (grant/award, code A) and 11,961 shares (conversion/exercise, code M).
- Dispositions/withholding: 3,654 shares withheld for taxes at $13.18 ($48,160); additional conversion/disposition lines of 2,282; 2,684; 2,526; and 4,469 shares reported at $0.
- Shares owned after transaction: not stated in the provided filing excerpt.
- Footnotes: F1 — each RSU converts to one share; F2 — the RSU award vests one-fourth each year over four years and is subject to the company’s executive compensation recovery policy.
Context
These entries represent RSU activity (award and settlement/vesting) rather than an open-market purchase or sale. Withholding of shares to satisfy tax obligations is routine when RSUs vest and does not necessarily indicate a buy or sell decision. The RSU award vests over four years per the footnote; the converted/withheld share counts reflect settlement mechanics rather than a market sale for investment purposes.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-02-19+11,961→ 42,177 total - Tax Payment
Common Stock
2026-02-19$13.18/sh−3,654$48,160→ 38,523 total - Exercise/Conversion
Restricted Stock Unit
[F1][F2]2026-02-19−2,282→ 30,826 totalExp: 2026-02-19→ Common Stock (2,282 underlying) - Exercise/Conversion
Restricted Stock Unit
[F1][F2]2026-02-19−2,684→ 28,142 totalExp: 2027-02-18→ Common Stock (2,684 underlying) - Exercise/Conversion
Restricted Stock Unit
[F1][F2]2026-02-19−2,526→ 25,616 totalExp: 2028-02-17→ Common Stock (2,526 underlying) - Exercise/Conversion
Restricted Stock Unit
[F1][F2]2026-02-19−4,469→ 21,147 totalExp: 2029-02-15→ Common Stock (4,469 underlying) - Award
Restricted Stock Unit
[F1][F2]2026-02-19+19,332→ 40,479 totalExp: 2030-02-21→ Common Stock (19,332 underlying)
Footnotes (2)
- [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.