SHENANDOAH TELECOMMUNICATION

Ticker: SHEN CUSIP: 82312B106 Class: Common Stock

COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS's Holding History (CIK: 0001083190)

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

Q4 2025

Shares 11,280 Value ($000) $130 Avg Close $11.83 Range $9.67 - $13.90

Q3 2025

Shares 11,604 Value ($000) $156 Avg Close $13.74 Range $11.71 - $15.84

Q2 2025

Shares 11,831 Value ($000) $162 Avg Close $12.69 Range $10.07 - $14.46

Q1 2025

Shares 10,976 Value ($000) $138 Avg Close $11.76 Range $9.77 - $13.61

Q2 2024

Shares 10,814 Value ($000) $177 Avg Close $16.11 Range $11.87 - $19.32

Q1 2024

Shares 10,855 Value ($000) $189 Avg Close $19.38 Range $16.95 - $22.27

Q4 2023

Shares 10,847 Value ($000) $235 Avg Close $22.40 Range $20.02 - $25.51

Q3 2023

Shares 33,604 Value ($000) $693 Avg Close $20.48 Range $18.02 - $23.31

Q2 2023

Shares 56,798 Value ($000) $1,104 Avg Close $19.60 Range $18.20 - $21.00

Q1 2023

Shares 53,045 Value ($000) $1,009 Avg Close $18.68 Range $15.62 - $21.07

Q4 2022

Shares 53,616 Value ($000) $1 Avg Close $18.30 Range $15.63 - $22.79

Q3 2022

Shares 45,626 Value ($000) $777 Avg Close $21.33 Range $16.97 - $24.50

Q2 2022

Shares 45,631 Value ($000) $1,013 Avg Close $22.59 Range $17.06 - $25.93

Q1 2022

Shares 43,075 Value ($000) $1,016 Avg Close $22.57 Range $18.77 - $26.58

Q4 2021

Shares 37,764 Value ($000) $963 Avg Close $28.08 Range $24.44 - $32.71

Q3 2021

Shares 37,884 Value ($000) $1,196 Avg Close $38.05 Range $28.70 - $61.53

Q2 2021

Shares 38,327 Value ($000) $1,859 Avg Close $49.53 Range $46.00 - $51.82

Q1 2021

Shares 38,508 Value ($000) $1,880 Avg Close $45.77 Range $38.77 - $52.20

Q4 2020

Shares 38,618 Value ($000) $1,670 Avg Close $44.90 Range $42.31 - $48.01

Q3 2020

Shares 38,684 Value ($000) $1,719 Avg Close $50.97 Range $42.18 - $56.77

Q2 2020

Shares 23,584 Value ($000) $1,162 Avg Close $50.71 Range $44.04 - $59.93

Q1 2020

Shares 23,579 Value ($000) $1,161 Avg Close $44.42 Range $38.35 - $51.00

Q4 2019

Shares 15,888 Value ($000) $661 Avg Close $35.41 Range $29.61 - $41.73

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	11,280	$130	$11.83	$9.67 - $13.90
Q3 2025	11,604	$156	$13.74	$11.71 - $15.84
Q2 2025	11,831	$162	$12.69	$10.07 - $14.46
Q1 2025	10,976	$138	$11.76	$9.77 - $13.61
Q2 2024	10,814	$177	$16.11	$11.87 - $19.32
Q1 2024	10,855	$189	$19.38	$16.95 - $22.27
Q4 2023	10,847	$235	$22.40	$20.02 - $25.51
Q3 2023	33,604	$693	$20.48	$18.02 - $23.31
Q2 2023	56,798	$1,104	$19.60	$18.20 - $21.00
Q1 2023	53,045	$1,009	$18.68	$15.62 - $21.07
Q4 2022	53,616	$1	$18.30	$15.63 - $22.79
Q3 2022	45,626	$777	$21.33	$16.97 - $24.50
Q2 2022	45,631	$1,013	$22.59	$17.06 - $25.93
Q1 2022	43,075	$1,016	$22.57	$18.77 - $26.58
Q4 2021	37,764	$963	$28.08	$24.44 - $32.71
Q3 2021	37,884	$1,196	$38.05	$28.70 - $61.53
Q2 2021	38,327	$1,859	$49.53	$46.00 - $51.82
Q1 2021	38,508	$1,880	$45.77	$38.77 - $52.20
Q4 2020	38,618	$1,670	$44.90	$42.31 - $48.01
Q3 2020	38,684	$1,719	$50.97	$42.18 - $56.77
Q2 2020	23,584	$1,162	$50.71	$44.04 - $59.93
Q1 2020	23,579	$1,161	$44.42	$38.35 - $51.00
Q4 2019	15,888	$661	$35.41	$29.61 - $41.73