Form 4: Shenandoah Telecommunications Director Transfers Shares to ECP Capital Partners After RSU Vesting

Matthew DeNichilo, a director of Shenandoah Telecommunications, transferred shares of common stock to ECP Capital Partners Management, LP after restricted stock units (RSUs) vested on February 13, 2025.

Summary

• Matthew DeNichilo, a director of Shenandoah Telecommunications, filed a Form 4 indicating changes in beneficial ownership.
• On February 13, 2025, restricted stock units (RSUs) vested, representing a contingent right to receive 4,751 shares of common stock.
• DeNichilo serves as a director designee of ECP Capital Partners Management, LP (ECP).
• By agreement, any equity-based securities awarded to DeNichilo as a director will be held on behalf of ECP, transferred to ECP, or sold with proceeds remitted to ECP.
• Upon vesting, DeNichilo immediately transferred the 4,751 shares of Shenandoah Telecommunications common stock to ECP.
• DeNichilo disclaims any pecuniary interest in these securities and future awards will be reported solely by ECP.

Sentiment

Score: 7

Explanation: The document is a routine regulatory filing related to stock ownership and transfer, indicating a neutral sentiment.

Industry Context

This filing reflects standard practice where a director affiliated with a private equity firm receives equity compensation that is ultimately controlled by the firm.

Related Party Transactions

• The transfer of shares from Matthew DeNichilo to ECP Capital Partners Management, LP constitutes a related party transaction.

Stakeholder Impact

• The transaction has minimal direct impact on stakeholders as it primarily reflects internal arrangements between the director and ECP Capital Partners.

Key Dates

Keywords

Form 4, beneficial ownership, restricted stock units, Shenandoah Telecommunications, ECP Capital Partners, director, shares, vesting