SHENANDOAH TELECOMMUNICATIONS CO/VA/ — Director's Dealing 2015

Feb 23, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SHENANDOAH TELECOMMUNICATIONS CO/VA/ (SHEN)
CIK: 0000354963
Period of Report: 2015-02-18

Reporting Person: LAM DALE S (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-02-18	Common Stock	A	482	$30.19	Acquired	9710	Direct
2015-02-18	Common Stock	F	148	$30.19	Disposed	9562	Direct
2015-02-19	Common Stock	A	256	$30.02	Acquired	9818	Direct
2015-02-16	Common Stock	F	78	$30.02	Disposed	9740	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-02-18	Restricted Stock Units	$	M	482	Disposed	2016-02-18	Common Stock (482)	Direct
2015-02-18	Restricted Stock Units	$	A	1999	Acquired	2016-02-18	Common Stock (1999)	Direct
2015-02-19	Restricted Stock Units	$	M	256	Disposed	2017-02-19	Common Stock (256)	Direct

Footnotes

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

F2: The restricted stock unit vest 1/3 on each the first, second and third anniversary subject to the continuous service on the Board of Directors of 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