Energy Capital Partners Management, LP 4
4 · SHENANDOAH TELECOMMUNICATIONS CO/VA/ · Filed Feb 23, 2026
Research Summary
AI-generated summary of this filing
Shenandoah (SHEN) — Energy Capital Partners Receives 9,863 RSUs
What Happened
Energy Capital Partners Management, LP — reported as a member of a Section 13(d) group — received a grant of 9,863 restricted stock units (RSUs) in Shenandoah Telecommunications Co. on 2026-02-19. The Form 4 lists the transaction as an award/acquisition (code A) of a derivative security at $0.00; RSUs are a contingent right to receive one share each rather than an immediate open‑market purchase or sale.
Key Details
- Transaction date and type: 2026-02-19 — Grant/Award (code A) of 9,863 RSUs at $0.00 (derivative).
- Shares owned after transaction: Not disclosed in this filing.
- Footnotes: F1 — each RSU represents a contingent right to one share on settlement; F2 — securities are held of record by Energy Capital Partners Management, LP; the filing names several individuals who may be deemed to share beneficial ownership through ECP Management but who disclaim such ownership; ECP Management may be deemed a group with ECP ControlCo, LLC (they disclaim group membership).
- Timeliness: Form 4 filed 2026-02-23 for a 2026-02-19 transaction — reported within the required filing window.
Context
RSUs are derivative awards that typically vest over time and convert into shares (or cash) only upon settlement — they do not represent an immediate cash purchase of stock. This filing reports an institutional/entity grant (Section 13(d) group member), not an individual officer selling or buying shares on the open market; it indicates an award was granted but does not by itself indicate immediate market buying or selling.
Insider Transaction Report
- Award
Restricted Stock Units
[F1][F2]2026-02-19+9,863→ 9,863 totalFrom: 2027-02-19Exp: 2027-02-19→ Common Stock (9,863 underlying)
Footnotes (2)
- [F1]Each restricted stock unit represents a contingent right to receive one share of the Issuer's Common Stock.
- [F2]The securities are held of record by Energy Capital Partners Management, LP ("ECP Management"). ECP Management is controlled by its business unit committee, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Murray Karp, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities held of record by ECP Management. As a result of these relationships, each of the foregoing individuals may be deemed to share beneficial ownership of the securities held of record by ECP Management. Each such individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein. By virtue of certain relationships among them, ECP Management may be deemed a group under Section 13(d) of the Exchange Act with ECP ControlCo, LLC. Each of them disclaims any such group membership.