SHENANDOAH TELECOMMUNICATION

Ticker: SHEN CUSIP: 82312B106 Class: Common Stock

EAM Investors, LLC's Holding History (CIK: 0001510989)

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

Q1 2019

Shares 23,595 Value ($000) $1,047 Avg Close $46.93 Range $43.28 - $51.18

Q4 2018

Shares 40,083 Value ($000) $1,774 Avg Close $42.67 Range $34.74 - $51.41

Q2 2016

Shares 95,149 Value ($000) $3,717 Avg Close $30.94 Range $25.69 - $39.11

Q1 2016

Shares 67,609 Value ($000) $1,809 Avg Close $22.98 Range $19.18 - $27.53

Q4 2015

Shares 37,522 Value ($000) $1,615 Avg Close $23.10 Range $19.63 - $25.67

Q3 2015

Shares 38,368 Value ($000) $1,643 Avg Close $18.93 Range $15.68 - $22.10

Q3 2014

Shares 29,715 Value ($000) $737 Avg Close $14.04 Range $12.36 - $15.55

Q2 2014

Shares 42,661 Value ($000) $1,299 Avg Close $14.24 Range $12.61 - $16.38

Q1 2014

Shares 48,147 Value ($000) $1,555 Avg Close $13.41 Range $11.51 - $17.00

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2019	23,595	$1,047	$46.93	$43.28 - $51.18
Q4 2018	40,083	$1,774	$42.67	$34.74 - $51.41
Q2 2016	95,149	$3,717	$30.94	$25.69 - $39.11
Q1 2016	67,609	$1,809	$22.98	$19.18 - $27.53
Q4 2015	37,522	$1,615	$23.10	$19.63 - $25.67
Q3 2015	38,368	$1,643	$18.93	$15.68 - $22.10
Q3 2014	29,715	$737	$14.04	$12.36 - $15.55
Q2 2014	42,661	$1,299	$14.24	$12.61 - $16.38
Q1 2014	48,147	$1,555	$13.41	$11.51 - $17.00