Lytle Glenn E Jr 4

What Happened

• Glenn E. Lytle Jr., Senior Vice President, Commercial Sales at Shenandoah Telecommunications (SHEN), was granted 13,437 restricted stock units (RSUs) and had 5,079 RSUs convert to common shares on Feb 19, 2026. The conversion/“exercise” events show 5,079 shares acquired (conversion) and two disposals of 2,123 and 2,956 shares at $0.00 — consistent with shares withheld to satisfy tax withholding obligations. No cash proceeds are reported for the withheld shares; the RSU grant and conversions are reported at $0.00 in the filing.

Key Details

• Transaction date: 2026-02-19; Form 4 filed: 2026-02-23 (filed within reporting window).
• Codes: M = exercise/conversion of derivative (5,079 shares converted); A = grant/award (13,437 RSUs).
• Disposals: 2,123 and 2,956 shares at $0.00 — likely tax withholding / net share settlement (no proceeds).
• Price/value: RSU award and conversions reported at $0.00 or N/A in the filing.
• Shares owned after the transactions: not specified in the provided filing excerpt.
• Footnotes: (F1) Each RSU = contingent right to one share. (F2) RSUs vest one-fourth on each of the first through fourth anniversaries and are subject to the company's executive compensation recovery policy.

Context

• RSUs are a form of equity compensation that convert to shares when they vest; withholding of shares to cover taxes is common and does not necessarily indicate a market sale. The M code here reflects conversion of derivative awards (vested RSUs) rather than an option exercise followed by an open-market sale. The new 13,437 RSU grant is an acquisition (award) and is generally viewed as insider compensation rather than a market purchase.