SHEN Director Victor Barnes Receives 66 Shares as Fee Award

What Happened
Victor Christopher Barnes, a director of Shenandoah Telecommunications Co. (SHEN), received 66.02 shares on 2026-09-02 at $12.37 per share, for a total reported value of $817. The transaction is coded as an acquisition/award (Code A) — the shares were issued in lieu of director fees rather than bought on the open market.

Key Details

• Transaction date: 2026-09-02; Form 4 filed: 2026-09-03 (timely filing).
• Transaction type/code: A (grant/award/acquisition).
• Shares acquired: 66.02 at $12.37 per share; total value reported: $817.
• Shares owned after transaction: not specified in the provided filing.
• Footnote: F1 — shares received in lieu of director fees.
• No sale, option exercise, 10b5-1 plan, or tax-withholding event was indicated.

Context
Receiving shares as director compensation is a common, routine practice and reflects pay choice rather than an outright market purchase. Such small-value awards are generally administrative and do not by themselves indicate a change in insider sentiment; purchases or material sales are typically more informative for investors.