SHENANDOAH TELECOMMUNICATIONS CO/VA/ — Director's Dealing 2021

Feb 22, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SHENANDOAH TELECOMMUNICATIONS CO/VA/ (SHEN)
CIK: 0000354963
Period of Report: 2021-02-18

Reporting Person: CHENG ELAINE (VP & Chief Information Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-02-18	Common Stock	A	884	—	Acquired	1171	Direct
2021-02-18	Common Stock	F	312	$44.88	Disposed	859	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-02-18	Restricted Stock Unit	$	M	443	Disposed	2023-02-16	Common Stock (443)	Direct
2021-02-18	Restricted Stock Unit	$	M	441	Disposed	2024-02-15	Common Stock (441)	Direct

Footnotes

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

F2: The option vests one-fourth on each the first, second, third and fourth anniversary. The options (and shares issuable upon exercise of the option) are subject to cancellation and forfeiture in accordance with the Company's executive compensation recovery policy.