SHENANDOAH TELECOMMUNICATIONS CO/VA/ — Director's Dealing 2011

Jun 23, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SHENANDOAH TELECOMMUNICATIONS CO/VA/ (SHEN)
CIK: 0000354963
Period of Report: 2011-06-21

Reporting Person: FERGUSON DAVID E (VP-Customer Services)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-06-21	Common Stock	A	423	$17.81	Acquired	19353	Direct
2011-06-21	Common Stock	F	136	$17.81	Disposed	19217	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-06-21	Restricted Stock Units	$	M	423	Disposed	2014-06-21	Common Stock (423)	Direct

Footnotes

F1: Each restricted stock unit represents a contingent right to receive one share of common stock.

F2: The restricted stock units vest 1/4 on each the first, second, third and fourth anniversary subject to the continuous employment by the Company or one of its affiliates until the date of vesting. Vested shares will be delivered to the reporting person on the vesting date. The restricted stock units are subject to forfeiture in accordance with the Company's executive compensation recovery policy.