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ECP ControlCo, LLC

Disclosed activity across 7 companies

Tapewire entity
75476
SEC CIK
0001707921

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Reported relationships

Latest disclosed role at each company.

CompanyLast reported asReport datePublished
Fast Radius, Inc.FSRD · Entity 123979Director · 10% ownerFebruary 04, 2022February 09, 2022
Ramaco Resources, Inc.METC · Entity 264710% ownerApril 27, 2017June 01, 2017
SHENANDOAH TELECOMMUNICATIONS CO/VA/SHEN · Entity 256710% ownerSeptember 10, 2025September 12, 2025
USD Partners LPUSDP · Entity 93812Director · 10% ownerApril 06, 2022October 06, 2022

Disclosed balances

About these balances

Latest available filing per company, not a reconstructed current portfolio. Matching sequences show the last reported balance with all source rows expandable; grouping alone does not establish account ownership. Do not add unresolved positions together. Filings may omit unchanged positions, and amendments may correct only part of an older disclosure. Jointly reported shares are not necessarily this owner's personal holdings.

Fast Radius, Inc.

Report date February 04, 2022 · Filed February 09, 2022 · Amendment

Jointly reported with ENNV Holdings, LLC

Amendment: balances below belong to this corrected disclosure, not necessarily a complete replacement of earlier positions.

Security / awardOwnership accountDisclosed shares / unitsDisclosure context
Common StockSEC Table I · non-derivativeIndirectSee footnotes8,140,000 Reported balance After 2022-02-04 transaction · row 1 Amendment: may correct only part of an earlier disclosure.
1 source row

Row 1 · 2022-02-04 · Conversion · Acquired 8,140,000 · Balance 8,140,000

F1: On February 4, 2022, pursuant to that certain Agreement and Plan of MergerOn February 4, 2022, pursuant to that certain Agreement and Plan of Merger, dated as of July 18, 2021, by and among the Fast Radius, Inc. (formerly known as ECP Environmental Growth Opportunities Corp.) (the "Issuer"), ENNV Merger Sub, Inc. ("Merger Sub") and Fast Radius Operations, Inc. (formerly known as Fast Radius, Inc.) ("Legacy Fast Radius"), as amended on December 26, 2021 and January 31, 2022 (as amended, the "Merger Agreement"), the Issuer completed its initial business combination (the "Business Combination"). As a result of the Business Combination, each outstanding share of Class B Common Stock, par value $0.0001 per share, of the Issuer was automatically converted into a share of Common Stock, par value $0.0001 per share ("Common Stock"), of the Issuer (the "Converted Shares") on a one-for-one basis.

F2: (Continued from Footnote 1) Upon the completion of the Business Combination, Merger Sub was merged with and into Legacy Fast Radius, with Legacy Fast Radius surviving such merger as a wholly owned subsidiary of the Issuer, and the Issuer was renamed "Fast Radius, Inc."

F3: Pursuant to the Sponsor Support Agreement, dated as of July 18, 2021 (the "Sponsor Support Agreement"), by and among the Issuer, ENNV Holdings, Legacy Fast Radius and the other parties thereto, at the closing of the Business Combination (the "Closing"), 814,000 of these shares (the "Earn Out Shares") will be subject to vesting, for a period of five years from the date of the Closing (the "Earnout Period"), in two equal tranches, upon the satisfaction of certain price targets set forth in the Sponsor Support Agreement, which price targets will be based upon the (i) daily volume-weighted average sale price of shares of Common Stock quoted on the Nasdaq Capital Market ("Nasdaq"), or the exchange on which the shares of Common Stock are then traded, for any 20 trading days within any 30 consecutive trading day period within the Earnout Period or (ii) the per share consideration received in connection with an Acquiror Sale (as defined in the Merger Agreement).

F4: (Continued from footnote 3) In the event of an Acquiror Sale in which the per share consideration received is less than a price target set forth in the Merger Agreement that has not previously occurred, the applicable provisions of the Sponsor Support Agreement will terminate and no Earn Out Shares will be issuable thereunder with respect to such price target in connection with or following completion of such Acquiror Sale. Upon the expiration of the Earn Out Period, any unvested Earn Out Shares will be forfeited to the Issuer without consideration.

F5: ENNV Holdings, LLC ("ENNV Holdings") is the record holder of these securities. ENNV GP, LLC ("ENNV GP") is the managing member of ENNV Holdings. ECP ControlCo, LLC ("ControlCo") is the managing member of ENNV GP. As a result, each of the foregoing entities may be deemed to share beneficial ownership of the securities held by ENNV Holdings.

F10: The managing members of ControlCo are Douglas Kimmelman, Andrew Singer, Peter Labbat, Tyler Reeder and Rahman D'Argenio, all of whom collectively share the power to vote and dispose of the securities benefically owned by ControlCo. Each such individual disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.

Common StockSEC Table I · non-derivativeIndirectSee footnotes8,871,340 Reported balance After 2022-02-04 transaction · row 2 Amendment: may correct only part of an earlier disclosure.
1 source row

Row 2 · 2022-02-04 · Grant · Acquired 731,340 · Balance 8,871,340

F6: ECP Energy Transition Opportunities Fund A, LP ("Fund A") is the record holder of these securities. ECP Energy Transition Opportunities GP, LP ("Energy Transition GP") is the general partner of Fund A. ECP Energy Transition Opportunities, LLC ("Energy Transition") is the general partner of Energy Transition GP. ControlCo is the managing member of Energy Transition. As a result, each of the foregoing entities may be deemed to share beneficial ownership of the securities held by Fund A.

F10: The managing members of ControlCo are Douglas Kimmelman, Andrew Singer, Peter Labbat, Tyler Reeder and Rahman D'Argenio, all of whom collectively share the power to vote and dispose of the securities benefically owned by ControlCo. Each such individual disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.

Common StockSEC Table I · non-derivativeIndirectSee footnotes8,940,000 Reported balance After 2022-02-04 transaction · row 3 Amendment: may correct only part of an earlier disclosure.
1 source row

Row 3 · 2022-02-04 · Grant · Acquired 68,660 · Balance 8,940,000

F7: ECP Energy Transition Opportunities Fund B, LP ("Fund B") is the record holder of these securities. Energy Transition GP is the general partner of Fund B. Energy Transition is the general partner of Energy Transition GP. ControlCo is the managing member of Energy Transition. As a result, each of the foregoing entities may be deemed to share beneficial ownership of the securities held by Fund B.

F10: The managing members of ControlCo are Douglas Kimmelman, Andrew Singer, Peter Labbat, Tyler Reeder and Rahman D'Argenio, all of whom collectively share the power to vote and dispose of the securities benefically owned by ControlCo. Each such individual disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.

Common StockSEC Table I · non-derivativeIndirectSee footnotes9,140,000 Reported balance After 2022-02-04 transaction · row 4 Amendment: may correct only part of an earlier disclosure.
1 source row

Row 4 · 2022-02-04 · Grant · Acquired 200,000 · Balance 9,140,000

F5: ENNV Holdings, LLC ("ENNV Holdings") is the record holder of these securities. ENNV GP, LLC ("ENNV GP") is the managing member of ENNV Holdings. ECP ControlCo, LLC ("ControlCo") is the managing member of ENNV GP. As a result, each of the foregoing entities may be deemed to share beneficial ownership of the securities held by ENNV Holdings.

F10: The managing members of ControlCo are Douglas Kimmelman, Andrew Singer, Peter Labbat, Tyler Reeder and Rahman D'Argenio, all of whom collectively share the power to vote and dispose of the securities benefically owned by ControlCo. Each such individual disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.

Common StockSEC Table I · non-derivativeIndirectSee footnotes9,895,461 Reported balance After 2022-02-04 transaction · row 5 Amendment: may correct only part of an earlier disclosure.
1 source row

Row 5 · 2022-02-04 · Conversion · Acquired 755,461 · Balance 9,895,461

F8: Immediately prior to the Closing, the convertible note converted into shares of common stock, par value $0.0001 per share, of Fast Radius ("Fast Radius Common Stock") in accordance with its terms and, upon Closing, such shares of Fast Radius Common Stock converted into shares of Common Stock in accordance with the terms of the Merger Agreement.

F9: Energy Capital Partners Holdings, LP ("ECP Holdings") is the record holder of the shares reported herein. ControlCo is the general partner of ECP Holdings. As a result, ControlCo may be deemed to share beneficial ownership of the securities held by ECP Holdings.

F10: The managing members of ControlCo are Douglas Kimmelman, Andrew Singer, Peter Labbat, Tyler Reeder and Rahman D'Argenio, all of whom collectively share the power to vote and dispose of the securities benefically owned by ControlCo. Each such individual disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.

Class B Common StockSEC Table II · derivative / convertible securityIndirectSee footnotes0 Reported balance After 2022-02-04 transaction · row 6 Amendment: may correct only part of an earlier disclosure.
1 source row

Row 6 · 2022-02-04 · Conversion · Disposed 8,140,000 · Balance 0

F1: On February 4, 2022, pursuant to that certain Agreement and Plan of MergerOn February 4, 2022, pursuant to that certain Agreement and Plan of Merger, dated as of July 18, 2021, by and among the Fast Radius, Inc. (formerly known as ECP Environmental Growth Opportunities Corp.) (the "Issuer"), ENNV Merger Sub, Inc. ("Merger Sub") and Fast Radius Operations, Inc. (formerly known as Fast Radius, Inc.) ("Legacy Fast Radius"), as amended on December 26, 2021 and January 31, 2022 (as amended, the "Merger Agreement"), the Issuer completed its initial business combination (the "Business Combination"). As a result of the Business Combination, each outstanding share of Class B Common Stock, par value $0.0001 per share, of the Issuer was automatically converted into a share of Common Stock, par value $0.0001 per share ("Common Stock"), of the Issuer (the "Converted Shares") on a one-for-one basis.

F2: (Continued from Footnote 1) Upon the completion of the Business Combination, Merger Sub was merged with and into Legacy Fast Radius, with Legacy Fast Radius surviving such merger as a wholly owned subsidiary of the Issuer, and the Issuer was renamed "Fast Radius, Inc."

F3: Pursuant to the Sponsor Support Agreement, dated as of July 18, 2021 (the "Sponsor Support Agreement"), by and among the Issuer, ENNV Holdings, Legacy Fast Radius and the other parties thereto, at the closing of the Business Combination (the "Closing"), 814,000 of these shares (the "Earn Out Shares") will be subject to vesting, for a period of five years from the date of the Closing (the "Earnout Period"), in two equal tranches, upon the satisfaction of certain price targets set forth in the Sponsor Support Agreement, which price targets will be based upon the (i) daily volume-weighted average sale price of shares of Common Stock quoted on the Nasdaq Capital Market ("Nasdaq"), or the exchange on which the shares of Common Stock are then traded, for any 20 trading days within any 30 consecutive trading day period within the Earnout Period or (ii) the per share consideration received in connection with an Acquiror Sale (as defined in the Merger Agreement).

F4: (Continued from footnote 3) In the event of an Acquiror Sale in which the per share consideration received is less than a price target set forth in the Merger Agreement that has not previously occurred, the applicable provisions of the Sponsor Support Agreement will terminate and no Earn Out Shares will be issuable thereunder with respect to such price target in connection with or following completion of such Acquiror Sale. Upon the expiration of the Earn Out Period, any unvested Earn Out Shares will be forfeited to the Issuer without consideration.

F5: ENNV Holdings, LLC ("ENNV Holdings") is the record holder of these securities. ENNV GP, LLC ("ENNV GP") is the managing member of ENNV Holdings. ECP ControlCo, LLC ("ControlCo") is the managing member of ENNV GP. As a result, each of the foregoing entities may be deemed to share beneficial ownership of the securities held by ENNV Holdings.

F10: The managing members of ControlCo are Douglas Kimmelman, Andrew Singer, Peter Labbat, Tyler Reeder and Rahman D'Argenio, all of whom collectively share the power to vote and dispose of the securities benefically owned by ControlCo. Each such individual disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.

Convertible Promissory NoteSEC Table II · derivative / convertible securityIndirectSee footnotes0 Reported balance After 2022-02-04 transaction · row 7 Amendment: may correct only part of an earlier disclosure.
1 source row

Row 7 · 2022-02-04 · Conversion · Disposed 7,000,000 · Balance 0

F8: Immediately prior to the Closing, the convertible note converted into shares of common stock, par value $0.0001 per share, of Fast Radius ("Fast Radius Common Stock") in accordance with its terms and, upon Closing, such shares of Fast Radius Common Stock converted into shares of Common Stock in accordance with the terms of the Merger Agreement.

F9: Energy Capital Partners Holdings, LP ("ECP Holdings") is the record holder of the shares reported herein. ControlCo is the general partner of ECP Holdings. As a result, ControlCo may be deemed to share beneficial ownership of the securities held by ECP Holdings.

F10: The managing members of ControlCo are Douglas Kimmelman, Andrew Singer, Peter Labbat, Tyler Reeder and Rahman D'Argenio, all of whom collectively share the power to vote and dispose of the securities benefically owned by ControlCo. Each such individual disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.

Filing footnotes · ownership attribution and instrument terms

F1: On February 4, 2022, pursuant to that certain Agreement and Plan of MergerOn February 4, 2022, pursuant to that certain Agreement and Plan of Merger, dated as of July 18, 2021, by and among the Fast Radius, Inc. (formerly known as ECP Environmental Growth Opportunities Corp.) (the "Issuer"), ENNV Merger Sub, Inc. ("Merger Sub") and Fast Radius Operations, Inc. (formerly known as Fast Radius, Inc.) ("Legacy Fast Radius"), as amended on December 26, 2021 and January 31, 2022 (as amended, the "Merger Agreement"), the Issuer completed its initial business combination (the "Business Combination"). As a result of the Business Combination, each outstanding share of Class B Common Stock, par value $0.0001 per share, of the Issuer was automatically converted into a share of Common Stock, par value $0.0001 per share ("Common Stock"), of the Issuer (the "Converted Shares") on a one-for-one basis.

F2: (Continued from Footnote 1) Upon the completion of the Business Combination, Merger Sub was merged with and into Legacy Fast Radius, with Legacy Fast Radius surviving such merger as a wholly owned subsidiary of the Issuer, and the Issuer was renamed "Fast Radius, Inc."

F3: Pursuant to the Sponsor Support Agreement, dated as of July 18, 2021 (the "Sponsor Support Agreement"), by and among the Issuer, ENNV Holdings, Legacy Fast Radius and the other parties thereto, at the closing of the Business Combination (the "Closing"), 814,000 of these shares (the "Earn Out Shares") will be subject to vesting, for a period of five years from the date of the Closing (the "Earnout Period"), in two equal tranches, upon the satisfaction of certain price targets set forth in the Sponsor Support Agreement, which price targets will be based upon the (i) daily volume-weighted average sale price of shares of Common Stock quoted on the Nasdaq Capital Market ("Nasdaq"), or the exchange on which the shares of Common Stock are then traded, for any 20 trading days within any 30 consecutive trading day period within the Earnout Period or (ii) the per share consideration received in connection with an Acquiror Sale (as defined in the Merger Agreement).

F4: (Continued from footnote 3) In the event of an Acquiror Sale in which the per share consideration received is less than a price target set forth in the Merger Agreement that has not previously occurred, the applicable provisions of the Sponsor Support Agreement will terminate and no Earn Out Shares will be issuable thereunder with respect to such price target in connection with or following completion of such Acquiror Sale. Upon the expiration of the Earn Out Period, any unvested Earn Out Shares will be forfeited to the Issuer without consideration.

F5: ENNV Holdings, LLC ("ENNV Holdings") is the record holder of these securities. ENNV GP, LLC ("ENNV GP") is the managing member of ENNV Holdings. ECP ControlCo, LLC ("ControlCo") is the managing member of ENNV GP. As a result, each of the foregoing entities may be deemed to share beneficial ownership of the securities held by ENNV Holdings.

F6: ECP Energy Transition Opportunities Fund A, LP ("Fund A") is the record holder of these securities. ECP Energy Transition Opportunities GP, LP ("Energy Transition GP") is the general partner of Fund A. ECP Energy Transition Opportunities, LLC ("Energy Transition") is the general partner of Energy Transition GP. ControlCo is the managing member of Energy Transition. As a result, each of the foregoing entities may be deemed to share beneficial ownership of the securities held by Fund A.

F7: ECP Energy Transition Opportunities Fund B, LP ("Fund B") is the record holder of these securities. Energy Transition GP is the general partner of Fund B. Energy Transition is the general partner of Energy Transition GP. ControlCo is the managing member of Energy Transition. As a result, each of the foregoing entities may be deemed to share beneficial ownership of the securities held by Fund B.

F8: Immediately prior to the Closing, the convertible note converted into shares of common stock, par value $0.0001 per share, of Fast Radius ("Fast Radius Common Stock") in accordance with its terms and, upon Closing, such shares of Fast Radius Common Stock converted into shares of Common Stock in accordance with the terms of the Merger Agreement.

F9: Energy Capital Partners Holdings, LP ("ECP Holdings") is the record holder of the shares reported herein. ControlCo is the general partner of ECP Holdings. As a result, ControlCo may be deemed to share beneficial ownership of the securities held by ECP Holdings.

F10: The managing members of ControlCo are Douglas Kimmelman, Andrew Singer, Peter Labbat, Tyler Reeder and Rahman D'Argenio, all of whom collectively share the power to vote and dispose of the securities benefically owned by ControlCo. Each such individual disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.

Ramaco Resources, Inc.

Report date April 27, 2017 · Filed June 01, 2017

Security / awardOwnership accountDisclosed shares / unitsDisclosure context
Common StockSEC Table I · non-derivativeIndirectBy Mezz Fund222,634 Reported balance Holding disclosure · report date 2017-04-27 · row 1 Holding and transaction disclosures are not merged.
1 source row

Row 1 · Balance 222,634

F1: ECP ControlCo, LLC ("ECP ControlCo") is the sole managing member of Energy Capital Partners Mezzanine LLC (the "General Partner") which is the general partner of Energy Capital Partners Mezzanine Opportunities Fund, LP ("Mezz Fund"), Energy Capital Partners Mezzanine Opportunities Fund A, LP ("Fund A") and ECP Mezzanine B (Ramaco IP), LP ("Fund B") (Mezz Fund, Fund A and Fund B are collectively referred to as the "ECP Funds").

F2: Douglas Kimmelman, Thomas Lane, Andrew Singer, Peter Labbat, Tyler Reeder and Rahman D'Argenio are the managing members of ECP ControlCo and share the power to vote and dispose of the securities beneficially owned by ECP ControlCo. As such, each of the General Partner, ECP ControlCo and Messrs. Kimmelman, Lane, Singer, Labbat, Reeder and D'Argenio may be deemed to have or share beneficial ownership of the Common Stock held directly by the ECP Funds. Each such entity or individual disclaims any such beneficial ownership except to the extent of their pecuniary interest therein.

Common StockSEC Table I · non-derivativeIndirectBy Fund A4,423,181 Reported balance Holding disclosure · report date 2017-04-27 · row 2 Holding and transaction disclosures are not merged.
1 source row

Row 2 · Balance 4,423,181

F1: ECP ControlCo, LLC ("ECP ControlCo") is the sole managing member of Energy Capital Partners Mezzanine LLC (the "General Partner") which is the general partner of Energy Capital Partners Mezzanine Opportunities Fund, LP ("Mezz Fund"), Energy Capital Partners Mezzanine Opportunities Fund A, LP ("Fund A") and ECP Mezzanine B (Ramaco IP), LP ("Fund B") (Mezz Fund, Fund A and Fund B are collectively referred to as the "ECP Funds").

F2: Douglas Kimmelman, Thomas Lane, Andrew Singer, Peter Labbat, Tyler Reeder and Rahman D'Argenio are the managing members of ECP ControlCo and share the power to vote and dispose of the securities beneficially owned by ECP ControlCo. As such, each of the General Partner, ECP ControlCo and Messrs. Kimmelman, Lane, Singer, Labbat, Reeder and D'Argenio may be deemed to have or share beneficial ownership of the Common Stock held directly by the ECP Funds. Each such entity or individual disclaims any such beneficial ownership except to the extent of their pecuniary interest therein.

Common StockSEC Table I · non-derivativeIndirectBy Fund B255,572 Reported balance Holding disclosure · report date 2017-04-27 · row 3 Holding and transaction disclosures are not merged.
1 source row

Row 3 · Balance 255,572

F1: ECP ControlCo, LLC ("ECP ControlCo") is the sole managing member of Energy Capital Partners Mezzanine LLC (the "General Partner") which is the general partner of Energy Capital Partners Mezzanine Opportunities Fund, LP ("Mezz Fund"), Energy Capital Partners Mezzanine Opportunities Fund A, LP ("Fund A") and ECP Mezzanine B (Ramaco IP), LP ("Fund B") (Mezz Fund, Fund A and Fund B are collectively referred to as the "ECP Funds").

F2: Douglas Kimmelman, Thomas Lane, Andrew Singer, Peter Labbat, Tyler Reeder and Rahman D'Argenio are the managing members of ECP ControlCo and share the power to vote and dispose of the securities beneficially owned by ECP ControlCo. As such, each of the General Partner, ECP ControlCo and Messrs. Kimmelman, Lane, Singer, Labbat, Reeder and D'Argenio may be deemed to have or share beneficial ownership of the Common Stock held directly by the ECP Funds. Each such entity or individual disclaims any such beneficial ownership except to the extent of their pecuniary interest therein.

Filing footnotes · ownership attribution and instrument terms

F1: ECP ControlCo, LLC ("ECP ControlCo") is the sole managing member of Energy Capital Partners Mezzanine LLC (the "General Partner") which is the general partner of Energy Capital Partners Mezzanine Opportunities Fund, LP ("Mezz Fund"), Energy Capital Partners Mezzanine Opportunities Fund A, LP ("Fund A") and ECP Mezzanine B (Ramaco IP), LP ("Fund B") (Mezz Fund, Fund A and Fund B are collectively referred to as the "ECP Funds").

F2: Douglas Kimmelman, Thomas Lane, Andrew Singer, Peter Labbat, Tyler Reeder and Rahman D'Argenio are the managing members of ECP ControlCo and share the power to vote and dispose of the securities beneficially owned by ECP ControlCo. As such, each of the General Partner, ECP ControlCo and Messrs. Kimmelman, Lane, Singer, Labbat, Reeder and D'Argenio may be deemed to have or share beneficial ownership of the Common Stock held directly by the ECP Funds. Each such entity or individual disclaims any such beneficial ownership except to the extent of their pecuniary interest therein.

Security / awardOwnership accountDisclosed shares / unitsDisclosure context
Common StockSEC Table I · non-derivativeIndirectSee Footnotes3,457,105 Last balance in matching sequence After 2025-09-11 transaction · row 2 Source-order balances reconcile. Account continuity and personal attribution are not independently verified.
2 source rows

Row 1 · 2025-09-10 · Purchase · Acquired 13,541 · Balance 3,455,302

F1: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $13.11 to $13.50. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

Row 2 · 2025-09-11 · Purchase · Acquired 1,803 · Balance 3,457,105

F4: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $13.26 to $13.39. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

Filing footnotes · ownership attribution and instrument terms

F1: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $13.11 to $13.50. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

F4: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $13.26 to $13.39. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

Security / awardOwnership accountDisclosed shares / unitsDisclosure context
COMMON UNITS (LIMITED PARTNER INTERESTS)SEC Table I · non-derivativeIndirectSee Footnotes17,308,226 Reported balance After 2022-04-06 transaction · row 1 Joint disclosure: continuity of the reported position is unresolved; see ownership footnotes.
1 source row

Row 1 · 2022-04-06 · Other · Acquired 5,751,136 · Balance 17,308,226

F1: On April 6, 2022, USD Partners LP (the Partnership) and certain of its subsidiaries (together with the Partnership, the Acquiring Entities) completed the acquisition of equity interests in certain subsidiaries of USD Group LLC (USD Group) that own 100% of the Hardisty South Terminal (the Acquisition). Upon the closing of the Acquisition, the Partnership and USD Partners GP LLC, the general partner of the Partnership (the GP), completed the cancellation of the incentive distribution rights (IDRs) held by the GP, and the conversion of the GP's approximate 1.6% economic general partner interest in the Partnership into a non-economic general partner interest (the GP/IDR Restructuring and, together with the Acquisition, the Transactions).The total consideration for the Transactions was $75 million in cash plus 5,751,136 newly issued common units representing limited partner interests in the Partnership (the Common Units) that were issued to USD Group.

F2: US Development Group, LLC (USD) is the parent company of USD Group, which is the sole owner of the membership interests of USD Partners GP LLC, the Issuer's general partner. USD manages USD Group. ECP ControlCo, LLC (ECP ControlCo) is the managing member of Energy Capital Partners III, LLC (ECP), which is the general partner of Energy Capital Partners GP III, LP (ECP GP), which is the general partner of each of Energy Capital Partners III, LP (ECP III), Energy Capital Partners III-A, LP (ECP-A), Energy Capital Partners III-B (USD IP), LP (ECP-B), and Energy Capital Partners III-C (USD IP), LP ((ECP-C) and together with ECP III,ECP-A and ECP-B, the "ECP Funds"). As a result, ECP ControlCo, ECP and ECP GP have voting and investment control over the securities owned by the ECP Funds. USD Holdings, LLC (USD Holdings) and the ECP Funds are members of USD and, with ECP and ECP ControlCo, may be deemed to indirectly beneficially own the limited partner interests beneficially owned by USD.

F3: Following the transactions reported herein, USD Group directly holds 17,308,226 common units representing 51.9% of the common units and 51.9% of the limited partnership interests in the Issuer. USD Holdings is a 45.5% member of USD, and may therefore be deemed to indirectly beneficially own 7,875,243 common units, representing 45.5% of the limited partnership interests held by USD Group. ECP ControlCo, ECP, ECP GP and the ECP Funds collectively hold 49.2% of the membership interest in USD, and may therefore be deemed to indirectly beneficially own 8,515,647 common units, representing 49.2% of the limited partnership interests held by USD Group.

Filing footnotes · ownership attribution and instrument terms

F1: On April 6, 2022, USD Partners LP (the Partnership) and certain of its subsidiaries (together with the Partnership, the Acquiring Entities) completed the acquisition of equity interests in certain subsidiaries of USD Group LLC (USD Group) that own 100% of the Hardisty South Terminal (the Acquisition). Upon the closing of the Acquisition, the Partnership and USD Partners GP LLC, the general partner of the Partnership (the GP), completed the cancellation of the incentive distribution rights (IDRs) held by the GP, and the conversion of the GP's approximate 1.6% economic general partner interest in the Partnership into a non-economic general partner interest (the GP/IDR Restructuring and, together with the Acquisition, the Transactions).The total consideration for the Transactions was $75 million in cash plus 5,751,136 newly issued common units representing limited partner interests in the Partnership (the Common Units) that were issued to USD Group.

F2: US Development Group, LLC (USD) is the parent company of USD Group, which is the sole owner of the membership interests of USD Partners GP LLC, the Issuer's general partner. USD manages USD Group. ECP ControlCo, LLC (ECP ControlCo) is the managing member of Energy Capital Partners III, LLC (ECP), which is the general partner of Energy Capital Partners GP III, LP (ECP GP), which is the general partner of each of Energy Capital Partners III, LP (ECP III), Energy Capital Partners III-A, LP (ECP-A), Energy Capital Partners III-B (USD IP), LP (ECP-B), and Energy Capital Partners III-C (USD IP), LP ((ECP-C) and together with ECP III,ECP-A and ECP-B, the "ECP Funds"). As a result, ECP ControlCo, ECP and ECP GP have voting and investment control over the securities owned by the ECP Funds. USD Holdings, LLC (USD Holdings) and the ECP Funds are members of USD and, with ECP and ECP ControlCo, may be deemed to indirectly beneficially own the limited partner interests beneficially owned by USD.

F3: Following the transactions reported herein, USD Group directly holds 17,308,226 common units representing 51.9% of the common units and 51.9% of the limited partnership interests in the Issuer. USD Holdings is a 45.5% member of USD, and may therefore be deemed to indirectly beneficially own 7,875,243 common units, representing 45.5% of the limited partnership interests held by USD Group. ECP ControlCo, ECP, ECP GP and the ECP Funds collectively hold 49.2% of the membership interest in USD, and may therefore be deemed to indirectly beneficially own 8,515,647 common units, representing 49.2% of the limited partnership interests held by USD Group.

Past disclosures · reporting ended (3)

No longer tracked through insider filings. These historical balances do not imply present ownership or a zero position.

Section 16 reporting ended · disclosed 2024-09-09. Current position is not established by this disclosure.

Security / awardOwnership accountDisclosed shares / unitsDisclosure context
Common StockSEC Table I · non-derivativeIndirectSee footnotes23,384,879 Reported balance After 2024-09-05 transaction · row 1 Joint disclosure: continuity of the reported position is unresolved; see ownership footnotes.
1 source row

Row 1 · 2024-09-05 · Sale · Disposed 2,354,109 · Balance 23,384,879

F1: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $3.42 to $3.72. The reporting persons undertake to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F2: Following the transactions reported herein, ECP Cardinal Holdings, LP and NESCO Holdings, LP are the record holders of 4,088,426 and 19,296,453 shares of Common Stock, respectively.

F3: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert (together, the "ECP Managers"), all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of the relationships described below, each of the ECP Managers may be deemed to share beneficial ownership of the securities described herein. Each individual disclaims beneficial ownership of such securities.

F4: ECP ControlCo, LLC is the managing member of Energy Capital Partners III, LLC, which is the general partner of (i) Energy Capital Partners GP III, LP, which is the general partner of each of Energy Capital Partners III, LP, Energy Capital Partners III-A, LP, Energy Capital Partners III-B, LP, Energy Capital Partners III-C, LP, and Energy Capital Partners III-D, LP, which are the sole members of ECP Starlight Public GP, LLC, which is the general partner of ECP Starlight Guarantor (Public), LP, and (ii) Energy Capital Partners GP III Co-Investment (NESCO), LLC, which is the general partner of Energy Capital Partners III (NESCO Co-Invest), LP.

F5: ECP Starlight Guarantor (Public), LP and Energy Capital Partners III (NESCO Co-Invest), LP are the sole members of NESCO Holdings GP, LLC, which is the general partner of each of ECP Cardinal Holdings, LP and NESCO Holdings, LP. Each of the entities described in footnotes 4 and 5 may be deemed to share beneficial ownership of the securities held of record by ECP Cardinal Holdings, LP and NESCO Holdings, LP.

Filing footnotes · ownership attribution and instrument terms

F1: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $3.42 to $3.72. The reporting persons undertake to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F2: Following the transactions reported herein, ECP Cardinal Holdings, LP and NESCO Holdings, LP are the record holders of 4,088,426 and 19,296,453 shares of Common Stock, respectively.

F3: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert (together, the "ECP Managers"), all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of the relationships described below, each of the ECP Managers may be deemed to share beneficial ownership of the securities described herein. Each individual disclaims beneficial ownership of such securities.

F4: ECP ControlCo, LLC is the managing member of Energy Capital Partners III, LLC, which is the general partner of (i) Energy Capital Partners GP III, LP, which is the general partner of each of Energy Capital Partners III, LP, Energy Capital Partners III-A, LP, Energy Capital Partners III-B, LP, Energy Capital Partners III-C, LP, and Energy Capital Partners III-D, LP, which are the sole members of ECP Starlight Public GP, LLC, which is the general partner of ECP Starlight Guarantor (Public), LP, and (ii) Energy Capital Partners GP III Co-Investment (NESCO), LLC, which is the general partner of Energy Capital Partners III (NESCO Co-Invest), LP.

F5: ECP Starlight Guarantor (Public), LP and Energy Capital Partners III (NESCO Co-Invest), LP are the sole members of NESCO Holdings GP, LLC, which is the general partner of each of ECP Cardinal Holdings, LP and NESCO Holdings, LP. Each of the entities described in footnotes 4 and 5 may be deemed to share beneficial ownership of the securities held of record by ECP Cardinal Holdings, LP and NESCO Holdings, LP.

Section 16 reporting ended · disclosed 2018-01-11. Current position is not established by this disclosure.

Security / awardOwnership accountDisclosed shares / unitsDisclosure context
Common StockSEC Table I · non-derivativeIndirectSee footnotes14,291,152 Reported balance After 2018-01-09 transaction · row 1 Joint disclosure: continuity of the reported position is unresolved; see ownership footnotes.
1 source row

Row 1 · 2018-01-09 · Sale · Disposed 5,250,000 · Balance 14,291,152

F1: Terawatt Holdings, LP is the record holder of the securities reported herein. ECP Control Co, LLC ("ECP Control Co") is the managing member of Energy Capital Partners III, LLC ("ECP GP"), which is the general partner of Energy Capital Partners GP III, LP ("ECP Fund GP"), which is the general partner of each of Energy Capital Partners III, LP, Energy Capital Partners III-A, Energy Capital Partners III-B (Terawatt IP), LP and Energy Capital Partners III-C, LP (collectively, the "ECP Funds"), which are the sole members of Terawatt Holdings GP, LLC ("Terawatt GP"), which is the general partner of Terawatt Holdings, LP.

F2: Douglas Kimmelman, Thomas Lane, Andrew Singer, Peter Labbat, Tyler Reeder and Rahman D'Argenio are the managing members of ECP ControlCo and share the power to vote and dispose of the securities beneficially owned by ECP ControlCo. As such, each of Terawatt GP, the ECP Funds, ECP Fund GP, ECP GP, ECP ControlCo and Messrs. Kimmelman, Lane, Singer, Labbat, Reeder and D'Argenio may be deemed to have or share beneficial ownership of the Common Stock held directly by Terawatt Holdings. Each such entity or individual disclaims any such beneficial ownership except to the extent of their pecuniary interest therein.

Filing footnotes · ownership attribution and instrument terms

F1: Terawatt Holdings, LP is the record holder of the securities reported herein. ECP Control Co, LLC ("ECP Control Co") is the managing member of Energy Capital Partners III, LLC ("ECP GP"), which is the general partner of Energy Capital Partners GP III, LP ("ECP Fund GP"), which is the general partner of each of Energy Capital Partners III, LP, Energy Capital Partners III-A, Energy Capital Partners III-B (Terawatt IP), LP and Energy Capital Partners III-C, LP (collectively, the "ECP Funds"), which are the sole members of Terawatt Holdings GP, LLC ("Terawatt GP"), which is the general partner of Terawatt Holdings, LP.

F2: Douglas Kimmelman, Thomas Lane, Andrew Singer, Peter Labbat, Tyler Reeder and Rahman D'Argenio are the managing members of ECP ControlCo and share the power to vote and dispose of the securities beneficially owned by ECP ControlCo. As such, each of Terawatt GP, the ECP Funds, ECP Fund GP, ECP GP, ECP ControlCo and Messrs. Kimmelman, Lane, Singer, Labbat, Reeder and D'Argenio may be deemed to have or share beneficial ownership of the Common Stock held directly by Terawatt Holdings. Each such entity or individual disclaims any such beneficial ownership except to the extent of their pecuniary interest therein.

Section 16 reporting ended · disclosed 2021-11-03. Current position is not established by this disclosure.

Security / awardOwnership accountDisclosed shares / unitsDisclosure context
Common StockSEC Table I · non-derivativeIndirectSee footnote10,911,664 Reported balance After 2021-11-01 transaction · row 1 Joint disclosure: continuity of the reported position is unresolved; see ownership footnotes.
1 source row

Row 1 · 2021-11-01 · Sale · Disposed 6,000,000 · Balance 10,911,664

F1: The securities reported herein are held of record by ECP Sunnova Holdings, LP ("ECP Sunnova Holdings"). ECP Control Co, LLC is the managing member of Energy Capital Partners III, LLC ("ECP GP"), which is the managing member of Energy Capital Partners GP III Co-Investment (Sunnova), LLC ("ECP Sunnova GP"). ECP Sunnova GP is the general partner of Energy Capital Partners III (Sunnova Co-Invest), LP ("ECP Sunnova"). ECP GP is the general partner of Energy Capital Partners GP III, LP, which is the general partner of each of (i) Energy Capital Partners III-A, LP, (ii) Energy Capital Partners III, LP, (iii) Energy Capital Partners III-B, LP, (iv) Energy Capital Parnters III-D, LP, and (v) Energy Capital Partners III-C, LP (together with ECP Sunnova, the "Funds"). The Funds are the managing members of ECP Sunnova Holdings GP, LLC, which is the general partner of ECP Sunnova Holdings.

Filing footnotes · ownership attribution and instrument terms

F1: The securities reported herein are held of record by ECP Sunnova Holdings, LP ("ECP Sunnova Holdings"). ECP Control Co, LLC is the managing member of Energy Capital Partners III, LLC ("ECP GP"), which is the managing member of Energy Capital Partners GP III Co-Investment (Sunnova), LLC ("ECP Sunnova GP"). ECP Sunnova GP is the general partner of Energy Capital Partners III (Sunnova Co-Invest), LP ("ECP Sunnova"). ECP GP is the general partner of Energy Capital Partners GP III, LP, which is the general partner of each of (i) Energy Capital Partners III-A, LP, (ii) Energy Capital Partners III, LP, (iii) Energy Capital Partners III-B, LP, (iv) Energy Capital Parnters III-D, LP, and (v) Energy Capital Partners III-C, LP (together with ECP Sunnova, the "Funds"). The Funds are the managing members of ECP Sunnova Holdings GP, LLC, which is the general partner of ECP Sunnova Holdings.

Transaction history

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Purchases/sales include open-market and private transactions. Plan disclosure applies to the filing; individual rows may differ. “Not disclosed” is not “unplanned.”

The cutoff filters transaction history only. Company summaries and owner relationships show the latest available disclosures. Parser corrections can improve historical records.

Transaction dateCompanyActivity / securityShares / unitsReported priceReported valueDetails
September 11, 2025 Filed Sep 12, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 1,803 $13.34 $24,052.74
Disclosure

SEC source: 0001493152-25-013208 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,457,105

F4 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $13.26 to $13.39. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

Read SEC document
September 10, 2025 Filed Sep 12, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 13,541 $13.29 $179,912.50
Disclosure

SEC source: 0001493152-25-013208 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,455,302

F1 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $13.11 to $13.50. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

Read SEC document
September 09, 2025 Filed Sep 10, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 362 $13.39 $4,845.55
Disclosure

SEC source: 0001493152-25-012999 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,441,761

F4 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $13.35 to $13.40. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

Read SEC document
September 08, 2025 Filed Sep 10, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 147 $13.46 $1,979.34
Disclosure

SEC source: 0001493152-25-012999 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,441,399

F1 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $13.45 to $13.4996. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

Read SEC document
September 05, 2025 Filed Sep 8, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 3,000 $13.45 $40,350.00
Disclosure

SEC source: 0001493152-25-012815 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,441,252

F2 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

Read SEC document
September 04, 2025 Filed Sep 8, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 2,068 $12.96 $26,798.80
Disclosure

SEC source: 0001493152-25-012815 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,438,252

F1 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $12.84 to $13.00. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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September 03, 2025 Filed Sep 4, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 30,000 $12.79 $383,802.00
Disclosure

SEC source: 0001641172-25-026594 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,436,184

F4 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $12.67 to $12.9895. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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September 02, 2025 Filed Sep 4, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 28,951 $13.01 $376,591.71
Disclosure

SEC source: 0001641172-25-026594 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,406,184

F1 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $12.92 to $13.30. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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August 29, 2025 Filed Sep 2, 2025 21:23 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 12,000 $13.25 $159,018.00
Disclosure

SEC source: 0001641172-25-026239 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,377,233

F4 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $13.19 to $13.29. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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August 28, 2025 Filed Sep 2, 2025 21:23 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 14,358 $13.26 $190,434.46
Disclosure

SEC source: 0001641172-25-026239 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,365,233

F1 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $13.20 to $13.35. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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August 27, 2025 Filed Aug 28, 2025 20:15 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 200 $13.35 $2,669.00
Disclosure

SEC source: 0001641172-25-025810 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,350,875

F4 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $13.34 to $13.35. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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August 26, 2025 Filed Aug 28, 2025 20:15 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 7,053 $13.27 $93,564.39
Disclosure

SEC source: 0001641172-25-025810 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,350,675

F1 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $13.24 to $13.30. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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August 25, 2025 Filed Aug 26, 2025 20:45 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 1,500 $13.10 $19,648.35
Disclosure

SEC source: 0001641172-25-025549 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,343,622

F4 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $12.95 to $13.24. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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August 22, 2025 Filed Aug 26, 2025 20:45 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 4,000 $13.09 $52,360.00
Disclosure

SEC source: 0001641172-25-025549 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,342,122

F1 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $12.75 to $13.22. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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August 21, 2025 Filed Aug 22, 2025 20:15 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 9,059 $12.66 $114,652.52
Disclosure

SEC source: 0001641172-25-025217 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,338,122

F4 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $12.42 to $12.74. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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August 20, 2025 Filed Aug 22, 2025 20:15 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 15,433 $12.52 $193,188.75
Disclosure

SEC source: 0001641172-25-025217 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,329,063

F1 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $12.47 to $12.6248. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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August 19, 2025 Filed Aug 20, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 10,560 $12.54 $132,393.89
Disclosure

SEC source: 0001641172-25-024982 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,313,630

F4 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $12.47 to $12.59. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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August 18, 2025 Filed Aug 20, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 20,047 $12.52 $250,944.34
Disclosure

SEC source: 0001641172-25-024982 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,303,070

F1 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $12.46 to $12.65. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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August 13, 2025 Filed Aug 14, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 1,473 $12.87 $18,962.67
Disclosure

SEC source: 0001641172-25-024072 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,283,023

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F5 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $12.8041 to $13.12. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IVC, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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August 12, 2025 Filed Aug 14, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 30,000 $12.59 $377,763.00
Disclosure

SEC source: 0001641172-25-024072 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,281,550

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F2 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $12.27 to $12.755. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IVC, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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August 11, 2025 Filed Aug 12, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 30,000 $11.88 $356,460.00
Disclosure

SEC source: 0001641172-25-023208 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,251,550

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F5 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $11.71 to $12.265. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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August 08, 2025 Filed Aug 12, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 30,000 $12.52 $375,510.00
Disclosure

SEC source: 0001641172-25-023208 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,221,550

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F2 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $12.16 to $13.02. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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August 07, 2025 Filed Aug 8, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 25,104 $12.71 $319,081.88
Disclosure

SEC source: 0001641172-25-022778 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,191,550

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F5 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $12.43 to $13.055. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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August 06, 2025 Filed Aug 8, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 22,085 $13.01 $287,352.35
Disclosure

SEC source: 0001641172-25-022778 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,166,446

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F2 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $12.88 to $13.35. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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August 05, 2025 Filed Aug 6, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 26,117 $13.12 $342,594.97
Disclosure

SEC source: 0001641172-25-022436 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,144,361

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F5 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $12.92 to $13.30. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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August 04, 2025 Filed Aug 6, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 23,703 $13.00 $308,032.34
Disclosure

SEC source: 0001641172-25-022436 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,118,244

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F2 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $12.62 to $13.16. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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August 01, 2025 Filed Aug 4, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 795 $14.44 $11,477.57
Disclosure

SEC source: 0001641172-25-022049 · ownership.xml · nonDerivative · entry 4

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,094,541

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F7 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $14.35 to $14.54. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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August 01, 2025 Filed Aug 4, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 20,620 $13.66 $281,764.05
Disclosure

SEC source: 0001641172-25-022049 · ownership.xml · nonDerivative · entry 3

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,093,746

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F6 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $13.30 to $14.25. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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August 01, 2025 Filed Aug 4, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 8,585 $12.93 $111,030.66
Disclosure

SEC source: 0001641172-25-022049 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,073,126

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F5 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $12.29 to $13.29. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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July 31, 2025 Filed Aug 4, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 22,847 $14.74 $336,746.50
Disclosure

SEC source: 0001641172-25-022049 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,064,541

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F2 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $14.55 to $14.93. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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July 30, 2025 Filed Jul 31, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 17,303 $14.88 $257,511.90
Disclosure

SEC source: 0001641172-25-021754 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,041,694

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F5 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $14.66 to $15.135. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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July 29, 2025 Filed Jul 31, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 19,852 $14.88 $295,467.24
Disclosure

SEC source: 0001641172-25-021754 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,024,391

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F2 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $14.70 to $15.12. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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July 28, 2025 Filed Jul 29, 2025 21:01 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 11,934 $15.06 $179,726.04
Disclosure

SEC source: 0001641172-25-021404 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 3,004,539

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F5 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $14.9379 to $15.355. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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July 25, 2025 Filed Jul 29, 2025 21:01 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 10,264 $15.22 $156,259.14
Disclosure

SEC source: 0001641172-25-021404 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 2,992,605

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F2 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $15.1164 to $15.53. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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July 24, 2025 Filed Jul 25, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 8,980 $15.52 $139,335.48
Disclosure

SEC source: 0001641172-25-021019 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 2,982,341

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F5 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $15.39 to $15.76. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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July 23, 2025 Filed Jul 25, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 15,801 $15.64 $247,178.20
Disclosure

SEC source: 0001641172-25-021019 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 2,973,361

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F2 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $15.22 to $15.7448. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

Read SEC document
July 22, 2025 Filed Jul 23, 2025 20:34 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 17,583 $15.40 $270,781.72
Disclosure

SEC source: 0001641172-25-020704 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 2,957,560

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F5 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $15.21 to $15.76. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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July 21, 2025 Filed Jul 23, 2025 20:34 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 16,467 $15.02 $247,363.98
Disclosure

SEC source: 0001641172-25-020704 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 2,939,977

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F2 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $14.8497 to $15.15. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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July 18, 2025 Filed Jul 21, 2025 20:53 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 20,004 $14.83 $296,709.33
Disclosure

SEC source: 0001641172-25-020421 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 2,923,510

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F5 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $14.67 to $15.22. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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July 17, 2025 Filed Jul 21, 2025 20:53 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 30,000 $14.62 $438,711.00
Disclosure

SEC source: 0001641172-25-020421 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 2,903,506

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F2 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $14.32 to $14.775. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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July 16, 2025 Filed Jul 17, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 22,402 $14.59 $326,751.09
Disclosure

SEC source: 0001641172-25-020060 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 2,873,506

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F5 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $14.38 to $14.83. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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July 15, 2025 Filed Jul 17, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 28,952 $14.69 $425,394.63
Disclosure

SEC source: 0001641172-25-020060 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 2,851,104

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F2 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $14.40 to $15.34. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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July 14, 2025 Filed Jul 15, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 21,137 $15.28 $322,924.74
Disclosure

SEC source: 0001641172-25-019732 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 2,822,152

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F5 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $14.98 to $15.835. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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July 11, 2025 Filed Jul 15, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 8,000 $14.76 $118,080.00
Disclosure

SEC source: 0001641172-25-019732 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 2,801,015

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F2 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $14.57 to $14.815. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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July 10, 2025 Filed Jul 11, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 16,943 $14.89 $252,338.88
Disclosure

SEC source: 0001641172-25-018770 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 2,793,015

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F5 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $14.63 to $15.08. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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July 09, 2025 Filed Jul 11, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 17,687 $14.54 $257,204.35
Disclosure

SEC source: 0001641172-25-018770 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 2,776,072

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F2 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $14.38 to $14.79. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

Read SEC document
July 08, 2025 Filed Jul 9, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 28,700 $14.67 $421,003.17
Disclosure

SEC source: 0001641172-25-018415 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 2,758,385

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F5 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $14.40 to $14.81. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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July 07, 2025 Filed Jul 9, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 15,314 $14.40 $220,478.72
Disclosure

SEC source: 0001641172-25-018415 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnotes

Disclosed balance after: 2,729,685

F1 · kind: The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.

F2 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $14.29 to $14.51. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3 · ownership.nature: The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F4 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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June 13, 2025 Filed Jun 16, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 6,000 $13.73 $82,363.20
Disclosure

SEC source: 0001641172-25-015260 · ownership.xml · nonDerivative · entry 2

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 2,714,371

F4 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $13.5537 to $13.81. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.nature: The securities are held of record by Hill City Holdings, LP ("Hill City"). ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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June 12, 2025 Filed Jun 16, 2025 20:30 UTC SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN · Entity 2567 PurchaseCommon Stock 11,100 $13.85 $153,690.60
Disclosure

SEC source: 0001641172-25-015260 · ownership.xml · nonDerivative · entry 1

ECP ControlCo, LLC · CIK 0001707921 · 10% owner

Energy Capital Partners IV, LLC · CIK 0001845291 · 10% owner

Energy Capital Partners GP IV, LP · CIK 0001844921 · 10% owner

ENERGY CAPITAL PARTNERS IV-A, LP · CIK 0001726198 · 10% owner

ENERGY CAPITAL PARTNERS IV-B, LP · CIK 0001726216 · 10% owner

ENERGY CAPITAL PARTNERS IV-C, LP · CIK 0001726217 · 10% owner

ENERGY CAPITAL PARTNERS IV-D, LP · CIK 0001726219 · 10% owner

Energy Capital Partners IV-B (Hill City IP), LP · CIK 0002032499 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnotes

Disclosed balance after: 2,708,371

F1 · price: The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $13.785 to $13.92. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F2 · ownership.nature: The securities are held of record by Hill City Holdings, LP ("Hill City"). ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.

F3 · ownership.nature: ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

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Value uses the disclosed total when available, otherwise shares × reported transaction price. It is not an estimate of exercise cash cost or investment performance.