LESLIE DARA 4

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

AI-generated summary of this filing

Updated Feb 23, 2026

Shenandoah Telecom (SHEN) SVP Leslie Dara Exercises Options, Receives RSUs

What Happened

Leslie Dara, Senior VP Sales & Marketing of Shenandoah Telecommunications (SHEN), executed a series of derivative conversions/exercises on Feb 19, 2026 and also received a restricted stock unit (RSU) award. The filing shows 8,222 shares acquired via exercise/conversion, multiple share disposals totaling 10,838 shares (including 2,616 shares withheld for taxes at $13.18/share, $34,479), and a grant of 13,976 RSUs (contingent rights to receive shares).

Key Details

Transaction date: 2026-02-19; Form 4 filed 2026-02-23 (appears timely).
Exercise/conversion (code M): 8,222 shares acquired; multiple disposals recorded (756, 2,061, 1,940, 3,465 shares) shown at $0 — these reflect net-share surrender/settlement of derivative shares.
Tax withholding (code F): 2,616 shares withheld at $13.18/share to cover tax liability = $34,479.
Grant (code A): 13,976 restricted stock units awarded at $0; each RSU = right to one share (Footnote F1). RSUs vest one-fourth each year over four years and are subject to the company’s executive compensation recovery policy (Footnote F2).
Shares owned after the transactions are not specified in the provided data.

Context

The pattern (exercise/conversion combined with shares withheld at $0 and a taxed-withholding line) is consistent with a cashless/net settlement of derivative awards where some shares are surrendered to cover taxes/exercise obligations rather than sold on the open market. That makes this chiefly an internal compensation and tax-settlement event, not an open-market buy or sell.
The RSU grant is a standard long-term compensation award that vests over four years; such grants are not an immediate market signal like an open-market purchase.

Form 4

Period: 2026-02-19

SVP Sales & Marketing

Transactions

Exercise/Conversion
Common Stock
[F1]
2026-02-19+8,222→ 18,618 total
Tax Payment
Common Stock
2026-02-19$13.18/sh−2,616$34,479→ 16,002 total
Exercise/Conversion
Restricted Stock Unit
[F1][F2]
2026-02-19−756→ 23,804 total
Exp: 2026-02-19→ Common Stock (756 underlying)
Exercise/Conversion
Restricted Stock Unit
[F1][F2]
2026-02-19−2,061→ 21,743 total
Exp: 2027-02-18→ Common Stock (2,061 underlying)
Exercise/Conversion
Restricted Stock Unit
[F1][F2]
2026-02-19−1,940→ 19,803 total
Exp: 2028-02-17→ Common Stock (1,940 underlying)
Exercise/Conversion
Restricted Stock Unit
[F1][F2]
2026-02-19−3,465→ 16,338 total
Exp: 2029-02-15→ Common Stock (3,465 underlying)
Award
Restricted Stock Unit
[F1][F2]
2026-02-19+13,976→ 30,314 total
Exp: 2030-02-21→ Common Stock (13,976 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.

Signature

/s/ Christopher E French Attorney in Fact for Dara Leslie|2026-02-23

1 file