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Director's Dealing 2021

Feb 8, 2021

32486_dirs_2021-02-08_5a0f32f4-aa9a-4405-88b6-0841727ddc78.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SHENANDOAH TELECOMMUNICATIONS CO/VA/ (SHEN)
CIK: 0000354963
Period of Report: 2021-02-04

Reporting Person: OSTROSKI RAYMOND B (VP Legal & General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-02-04	Common Stock	A	3588	—	Acquired	26866.9736	Direct
2021-02-04	Common Stock	F	1218	$43.21	Disposed	25648.9736	Direct

Footnotes

F1: Represents the vesting of performance-based Restricted Stock Units granted February 20, 2018. Performance for this award was measured based on the Issuer's relative total shareholder return (TSR) compared to the TSR of a group of companies in the NASDAQ Telecom Index with a Market Cap within a factor of 3 of the Issuer's Market cap.

F2: Includes 175.1303 shares acquired through Dividend Reinvestment on 12-1-2020.