X0306 4 2013-02-18 0 0000354963 SHENANDOAH TELECOMMUNICATIONS CO/VA/ SHEN 0001494888 Baughman Richard A PO BOX 459 EDINBURG VA 22824 0 1 0 0 VP-Information Technology Incentive Stock Option 13.84 2013-02-18 4 A 0 3822 13.84 A 2023-02-17 Common Stock 3822 20022 D Restricted Stock Units 2013-02-18 4 A 0 2889 0 A 2023-02-17 Common Stock 2889 22911 D The option vests ? on each the first, second, third and fourth anniversary. The option (and shares issuable upon exercise of the option) are subject to cancellation and forfeiture in accordance with the Company's executive compensation recovery policy. Each restricted stock unit represents a contingent right to receive one share of common stock. The restricted stock units vest ? on each the first, second, third and fourth anniversary subject to the continuous employment by the Company or one of its affiliates until the date of vesting. Vested shares will be delivered to the reporting person on the vesting date. The restricted stock units are subject to forfeiture in accordance with the Company's executive compensation recovery policy. Richard A Baughman 2013-02-20