BARNES VICTOR CHRISTOPHER 4

What Happened
Victor Christopher Barnes, a director of Shenandoah Telecommunications Co. (SHEN), was granted 59.917 shares on March 2, 2026. The shares were valued at $13.63 each, for an aggregate value of approximately $817. This was an award/acquisition (code A) — shares issued in lieu of director fees, not an open-market purchase or sale.

Key Details

• Transaction date and price: 2026-03-02 at $13.63 per share.
• Shares received: 59.917; total value ≈ $817.
• Transaction type/code: Award/Acquisition (A) — shares issued as director compensation.
• Footnote: Shares received in lieu of director fees (per filing).
• Shares owned after transaction: not disclosed in this Form 4.
• Filing timeliness: Filed 2026-03-03 for a 2026-03-02 transaction (appears timely under standard Form 4 rules).

Context
Receiving shares as compensation is routine for directors and reflects payroll/fee settlement rather than a direct signal of personal bullish or bearish trading. The small dollar value (~$817) suggests this was a routine fee conversion rather than a material ownership change.