SHENANDOAH TELECOMMUNICATION

Ticker: SHEN CUSIP: 82312B106 Class: Common Stock

EMERALD ADVISERS, LLC's Holding History (CIK: 0001015083)

Note: Option positions (PUT/CALL) are excluded.

Q4 2021

Shares 5,859 Value ($000) $149 Avg Close $28.08 Range $24.44 - $32.71

Q3 2021

Shares 6,579 Value ($000) $208 Avg Close $38.05 Range $28.70 - $61.53

Q2 2021

Shares 3,159 Value ($000) $153 Avg Close $49.53 Range $46.00 - $51.82

Q4 2020

Shares 3,159 Value ($000) $137 Avg Close $44.90 Range $42.31 - $48.01

Q3 2020

Shares 3,919 Value ($000) $174 Avg Close $50.97 Range $42.18 - $56.77

Q2 2020

Shares 3,919 Value ($000) $193 Avg Close $50.71 Range $44.04 - $59.93

Q4 2019

Shares 3,320 Value ($000) $138 Avg Close $35.41 Range $29.61 - $41.73

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2021	5,859	$149	$28.08	$24.44 - $32.71
Q3 2021	6,579	$208	$38.05	$28.70 - $61.53
Q2 2021	3,159	$153	$49.53	$46.00 - $51.82
Q4 2020	3,159	$137	$44.90	$42.31 - $48.01
Q3 2020	3,919	$174	$50.97	$42.18 - $56.77
Q2 2020	3,919	$193	$50.71	$44.04 - $59.93
Q4 2019	3,320	$138	$35.41	$29.61 - $41.73