SHENANDOAH TELECOMMUNICATIONS CO/VA/ — Director's Dealing 2017

Sep 27, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SHENANDOAH TELECOMMUNICATIONS CO/VA/ (SHEN)
CIK: 0000354963
Period of Report: 2017-09-25

Reporting Person: MACKENZIE EARLE A (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-09-25	Common Stock	S	46000	$38.9324	Disposed	118047	Direct
2017-09-26	Common Stock	A	66028	$8.29	Acquired	184075	Direct
2017-09-26	Common Stock	A	125296	$5.41	Acquired	309371	Direct
2017-09-26	Common Stock	A	88322	$6.92	Acquired	397693	Direct
2017-09-26	Common Stock	F	140328	$38.85	Disposed	257365	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-09-26	Incentive Stock Option	$8.29	X	66028	Disposed	2021-02-20	Common Stock (66028)	Direct
2017-09-26	Incentive Stock Option	$5.41	X	125296	Disposed	2022-02-19	Common Stock (125296)	Direct
2017-09-26	Incentive Stock Option	$6.92	X	88322	Disposed	2023-02-17	Common Stock (88322)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	191516	Indirect

Footnotes

F1: Option vests one-fourth on each the first, second, third and fourth anniversary.