[Form 4] Shenandoah Telecom Co Insider Trading Activity
Shenandoah Telecommunications reporting persons disclosed purchases totaling 60,000 common shares: 30,000 on 08/08/2025 at a weighted-average price of $12.517 and 30,000 on 08/11/2025 at $11.882. Following those transactions the reporting entities held 3,221,550 and 3,251,550 shares, respectively, on an indirect basis.
The filings state the purchases were made pursuant to a Rule 10b5-1 plan adopted June 5, 2025, and that the securities are held of record by Hill City. The disclosure describes a multi-entity ownership chain involving ECP ControlCo and multiple Energy Capital Partners entities and names managers who may share voting and dispositive power while disclaiming beneficial ownership except for pecuniary interest.
I soggetti segnalanti di Shenandoah Telecommunications hanno comunicato l'acquisto di un totale di 60,000 azioni ordinarie: 30,000 il 08/08/2025 a un prezzo medio ponderato di $12.517 e 30,000 il 08/11/2025 a $11.882. A seguito di tali operazioni, gli enti segnalanti detenevano rispettivamente 3,221,550 e 3,251,550 azioni su base indiretta.
Le dichiarazioni indicano che gli acquisti sono stati effettuati ai sensi di un piano ai sensi della Regola 10b5-1 adottato il 5 giugno 2025 e che i titoli risultano intestati a Hill City. La disclosure descrive una catena di propriet脿 multilivello che coinvolge ECP ControlCo e pi霉 entit脿 di Energy Capital Partners e nomina manager che potrebbero condividere poteri di voto e di disposizione, pur rinunciando alla titolarit脿 beneficiaria fatta eccezione per un interesse pecuniario.
Los sujetos informantes de Shenandoah Telecommunications comunicaron compras por un total de 60,000 acciones ordinarias: 30,000 el 08/08/2025 a un precio medio ponderado de $12.517 y 30,000 el 08/11/2025 a $11.882. Tras esas operaciones, las entidades informantes pose铆an, de forma indirecta, 3,221,550 y 3,251,550 acciones, respectivamente.
Los registros se帽alan que las compras se realizaron en virtud de un plan Rule 10b5-1 adoptado el 5 de junio de 2025 y que los valores est谩n inscritos a nombre de Hill City. La divulgaci贸n describe una cadena de propiedad multinivel que involucra a ECP ControlCo y varias entidades de Energy Capital Partners, y nombra a directivos que podr铆an compartir el poder de voto y de disposici贸n, al tiempo que renuncian a la titularidad beneficiaria salvo por un inter茅s pecuniario.
Shenandoah Telecommunications鞚� 氤搓碃鞛愲姅 齑� 60,000欤检潣 氤错喌欤茧ゼ 毵れ垬頄堧嫟瓿� 瓿奠嫓頄堨姷雼堧嫟: 30,000欤茧姅 08/08/2025鞐� 臧�欷戫弶攴犼皜瓴� $12.517鞐�, 30,000欤茧姅 08/11/2025鞐� $11.882鞐� 毵れ垬頄堨姷雼堧嫟. 頃措嫻 瓯半灅 鞚错泟 氤搓碃 欤检泊霌れ潃 臧侁皝 3,221,550欤检檧 3,251,550欤茧ゼ 臧勋为 氤挫湢頃橁碃 鞛堨棃鞀惦媹雼�.
鞁犼碃靹滌棎電� 鞚措煬頃� 毵れ垬臧� 2025雲� 6鞗� 5鞚� 毂勴儩霅� Rule 10b5-1 瓿勴殟鞐� 霐半澕 鞚措（鞏挫鞙茧┌, 歃濌秾鞚� Hill City 氇呾潣搿� 霌膘灛霅橃柎 鞛堧嫟瓿� 旮办灛霅橃柎 鞛堨姷雼堧嫟. 瓿奠嫓電� ECP ControlCo鞕� 雼れ垬鞚� Energy Capital Partners 瓿勳棿靷ゼ 韽暔頃橂姅 雼る嫧瓿� 靻岇湢 甑“毳� 靹る獏頃橁碃, 鞚橁舶甓� 氚� 觳橂秳甓岇潉 瓿奠湢頃� 靾� 鞛堧姅 毵る媹鞝�霌れ潉 歆�氇呿晿氅挫劀霃� 旮堨爠鞝� 鞚挫澋鞚� 鞝滌櫢頃橁碃電� 鞁れ鞝� 靻岇湢甓岇潉 欤检灔頃橃 鞎婋姅雼り碃 氇呾嫓頃橁碃 鞛堨姷雼堧嫟.
Les personnes d茅clarante de Shenandoah Telecommunications ont divulgu茅 des achats totalisant 60,000 actions ordinaires聽: 30,000 le 08/08/2025 au prix moyen pond茅r茅 de $12.517 et 30,000 le 08/11/2025 脿 $11.882. 脌 la suite de ces op茅rations, les entit茅s d茅clarante d茅tenaient respectivement 3,221,550 et 3,251,550 actions de mani猫re indirecte.
Les d茅p么ts indiquent que les achats ont 茅t茅 effectu茅s en vertu d'un plan Rule 10b5-1 adopt茅 le 5 juin 2025 et que les titres sont inscrits au nom de Hill City. La divulgation d茅crit une cha卯ne de propri茅t茅 multi-entit茅s impliquant ECP ControlCo et plusieurs entit茅s d鈥橢nergy Capital Partners, et nomme des dirigeants susceptibles de partager les pouvoirs de vote et de disposition tout en niant la qualit茅 de propri茅taire effectif, sauf pour un int茅r锚t p茅cuniaire.
Die meldepflichtigen Personen von Shenandoah Telecommunications gaben K盲ufe in H枚he von insgesamt 60,000 Stammaktien bekannt: 30,000 am 08/08/2025 zu einem gewichteten Durchschnittspreis von $12.517 und 30,000 am 08/11/2025 zu $11.882. Nach diesen Transaktionen hielten die meldenden Stellen jeweils 3,221,550 bzw. 3,251,550 Aktien auf indirektem Wege.
Die Einreichungen geben an, dass die K盲ufe im Rahmen eines am 5. Juni 2025 angenommenen Rule 10b5-1-Plans erfolgten und dass die Wertpapiere auf Hill City registriert sind. Die Offenlegung beschreibt eine mehrstufige Eigent眉merkette, an der ECP ControlCo und mehrere Energy Capital Partners-Gesellschaften beteiligt sind, und nennt Manager, die Stimm- und Verf眉gungsbefugnisse teilen k枚nnten, w盲hrend sie die wirtschaftliche Eigent眉merschaft mit Ausnahme eines rein verm枚gensbezogenen Interesses abstreiten.
- Insiders purchased a total of 60,000 common shares (30,000 on 08/08/2025 and 30,000 on 08/11/2025), demonstrating executed buys under internal plan rules.
- Indirect beneficial holdings increased to 3,251,550 shares after the 08/11/2025 purchases, as reported in the filing.
- None.
Insights
TL;DR: Insiders executed preplanned purchases of 60,000 SHEN shares at ~ $12.20, nudging reported indirect holdings to ~3.25M shares.
The filing reports two non-derivative purchases of common stock (30,000 shares each) on 08/08/2025 and 08/11/2025 at weighted-average prices of $12.517 and $11.882. Purchases were made under a Rule 10b5-1 plan adopted June 5, 2025, and the shares are reflected as indirectly owned through Hill City and related entities. The absolute size of the buys (60,000 shares) should be weighed against the >3.2 million shares reported; the filing itself conveys execution and structure rather than new company-operational information.
TL;DR: The disclosure shows a layered ownership structure with shared voting/dispositive power and a 10b5-1 plan executing purchases.
The Form 4 details an indirect ownership chain: Hill City holds record title, with ECP ControlCo and several Energy Capital Partners entities in the chain. The filing names specific managers who "share the power to vote and dispose" of the securities while disclaiming beneficial ownership except to the extent of pecuniary interest. Multiple related entities are filing separate Form 4s due to system limits, which increases transparency but requires consolidation for a full ownership view.
I soggetti segnalanti di Shenandoah Telecommunications hanno comunicato l'acquisto di un totale di 60,000 azioni ordinarie: 30,000 il 08/08/2025 a un prezzo medio ponderato di $12.517 e 30,000 il 08/11/2025 a $11.882. A seguito di tali operazioni, gli enti segnalanti detenevano rispettivamente 3,221,550 e 3,251,550 azioni su base indiretta.
Le dichiarazioni indicano che gli acquisti sono stati effettuati ai sensi di un piano ai sensi della Regola 10b5-1 adottato il 5 giugno 2025 e che i titoli risultano intestati a Hill City. La disclosure descrive una catena di propriet脿 multilivello che coinvolge ECP ControlCo e pi霉 entit脿 di Energy Capital Partners e nomina manager che potrebbero condividere poteri di voto e di disposizione, pur rinunciando alla titolarit脿 beneficiaria fatta eccezione per un interesse pecuniario.
Los sujetos informantes de Shenandoah Telecommunications comunicaron compras por un total de 60,000 acciones ordinarias: 30,000 el 08/08/2025 a un precio medio ponderado de $12.517 y 30,000 el 08/11/2025 a $11.882. Tras esas operaciones, las entidades informantes pose铆an, de forma indirecta, 3,221,550 y 3,251,550 acciones, respectivamente.
Los registros se帽alan que las compras se realizaron en virtud de un plan Rule 10b5-1 adoptado el 5 de junio de 2025 y que los valores est谩n inscritos a nombre de Hill City. La divulgaci贸n describe una cadena de propiedad multinivel que involucra a ECP ControlCo y varias entidades de Energy Capital Partners, y nombra a directivos que podr铆an compartir el poder de voto y de disposici贸n, al tiempo que renuncian a la titularidad beneficiaria salvo por un inter茅s pecuniario.
Shenandoah Telecommunications鞚� 氤搓碃鞛愲姅 齑� 60,000欤检潣 氤错喌欤茧ゼ 毵れ垬頄堧嫟瓿� 瓿奠嫓頄堨姷雼堧嫟: 30,000欤茧姅 08/08/2025鞐� 臧�欷戫弶攴犼皜瓴� $12.517鞐�, 30,000欤茧姅 08/11/2025鞐� $11.882鞐� 毵れ垬頄堨姷雼堧嫟. 頃措嫻 瓯半灅 鞚错泟 氤搓碃 欤检泊霌れ潃 臧侁皝 3,221,550欤检檧 3,251,550欤茧ゼ 臧勋为 氤挫湢頃橁碃 鞛堨棃鞀惦媹雼�.
鞁犼碃靹滌棎電� 鞚措煬頃� 毵れ垬臧� 2025雲� 6鞗� 5鞚� 毂勴儩霅� Rule 10b5-1 瓿勴殟鞐� 霐半澕 鞚措（鞏挫鞙茧┌, 歃濌秾鞚� Hill City 氇呾潣搿� 霌膘灛霅橃柎 鞛堧嫟瓿� 旮办灛霅橃柎 鞛堨姷雼堧嫟. 瓿奠嫓電� ECP ControlCo鞕� 雼れ垬鞚� Energy Capital Partners 瓿勳棿靷ゼ 韽暔頃橂姅 雼る嫧瓿� 靻岇湢 甑“毳� 靹る獏頃橁碃, 鞚橁舶甓� 氚� 觳橂秳甓岇潉 瓿奠湢頃� 靾� 鞛堧姅 毵る媹鞝�霌れ潉 歆�氇呿晿氅挫劀霃� 旮堨爠鞝� 鞚挫澋鞚� 鞝滌櫢頃橁碃電� 鞁れ鞝� 靻岇湢甓岇潉 欤检灔頃橃 鞎婋姅雼り碃 氇呾嫓頃橁碃 鞛堨姷雼堧嫟.
Les personnes d茅clarante de Shenandoah Telecommunications ont divulgu茅 des achats totalisant 60,000 actions ordinaires聽: 30,000 le 08/08/2025 au prix moyen pond茅r茅 de $12.517 et 30,000 le 08/11/2025 脿 $11.882. 脌 la suite de ces op茅rations, les entit茅s d茅clarante d茅tenaient respectivement 3,221,550 et 3,251,550 actions de mani猫re indirecte.
Les d茅p么ts indiquent que les achats ont 茅t茅 effectu茅s en vertu d'un plan Rule 10b5-1 adopt茅 le 5 juin 2025 et que les titres sont inscrits au nom de Hill City. La divulgation d茅crit une cha卯ne de propri茅t茅 multi-entit茅s impliquant ECP ControlCo et plusieurs entit茅s d鈥橢nergy Capital Partners, et nomme des dirigeants susceptibles de partager les pouvoirs de vote et de disposition tout en niant la qualit茅 de propri茅taire effectif, sauf pour un int茅r锚t p茅cuniaire.
Die meldepflichtigen Personen von Shenandoah Telecommunications gaben K盲ufe in H枚he von insgesamt 60,000 Stammaktien bekannt: 30,000 am 08/08/2025 zu einem gewichteten Durchschnittspreis von $12.517 und 30,000 am 08/11/2025 zu $11.882. Nach diesen Transaktionen hielten die meldenden Stellen jeweils 3,221,550 bzw. 3,251,550 Aktien auf indirektem Wege.
Die Einreichungen geben an, dass die K盲ufe im Rahmen eines am 5. Juni 2025 angenommenen Rule 10b5-1-Plans erfolgten und dass die Wertpapiere auf Hill City registriert sind. Die Offenlegung beschreibt eine mehrstufige Eigent眉merkette, an der ECP ControlCo und mehrere Energy Capital Partners-Gesellschaften beteiligt sind, und nennt Manager, die Stimm- und Verf眉gungsbefugnisse teilen k枚nnten, w盲hrend sie die wirtschaftliche Eigent眉merschaft mit Ausnahme eines rein verm枚gensbezogenen Interesses abstreiten.
FAQ
What transactions were reported for SHEN in this Form 4?
Were the SHEN trades executed under a 10b5-1 plan?
How many SHEN shares did the reporting entities own after the reported purchases?
What prices were paid for the SHEN shares?
Who may share voting and dispositive power over the reported SHEN shares?
