X0303 4 2008-11-05 0 0000354963 SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN 0001220140 PIRTLE WILLIAM L PO BOX 459 EDINBURG VA 22824 0 1 0 0 VP - Sales Common Stock 2008-11-05 4 M 0 3267 8.0833 A 19649.4656 D Incentive Stock Option 8.0833 2008-11-05 4 X 0 3267 8.0833 D 2005-03-09 2010-03-10 Common Stock 3267 3582 D Performance Shares 2015-09-17 Common Stock 1815 1815 D The option vests in two equal installmentgs beginning 3-9-05. 1-for-1 Vesting is subject to market and time-based conditions, both of which must be met for vesting to occur. The time-based condition requires that a receipient must remain in the continuous employment of the Company of one of its Affiliates until the date upon which the Performance Shares vest. All of the shares will fully vest on September 17, 2012, 2013, 2014, or 2015 if the average closing price for the common stock of the 30-day period ending on the day prior to such date is greater than or equal to $28.70, $30.34, $31.98, and $33.62 respectively. If the Performance Shares do not vest on or prior to September 17, 2015 they will be forfeited. /s/ William L Pirtle 2008-11-06