Fitzsimmons Tracy 4

What Happened

• Tracy Fitzsimmons, a director of Shenandoah Telecommunications Co. (SHEN), had 9,863 restricted stock units (RSUs) convert into 9,863 shares on April 21, 2026. The Form 4 shows an acquisition (conversion) of 9,863 shares and a simultaneous disposition of 9,863 shares recorded at $0. Footnotes state each RSU represents a right to one share and that the RSUs vested on an accelerated basis due to the reporting person's retirement effective April 21, 2026.

Key Details

• Transaction date: April 21, 2026; Form 4 filed April 22, 2026.
• Transaction type/code: M — exercise/conversion of derivative (RSU conversion to common stock).
• Shares involved: 9,863 acquired via conversion and 9,863 disposed (disposition price recorded as $0).
• Shares owned after the transactions: not disclosed in the filing.
• Footnotes: F1 — each RSU = one common share; F2 — RSUs vested accelerated upon retirement on April 21, 2026.
• No cash sale proceeds or purchase price reported for these entries.

Context

• These entries reflect RSUs vesting and converting into common shares rather than an open-market purchase or sale. The simultaneous acquisition and $0 disposal reported on the Form 4 are consistent with RSU settlement mechanics (the filing’s footnotes attribute the vesting to retirement). This is typically a reporting of compensation/settlement activity, not a directional insider buy or sell signal.