SHENANDOAH TELECOMMUNICATION

Ticker: SHEN CUSIP: 82312B106 Class: Common Stock

LANDSCAPE CAPITAL MANAGEMENT, L.L.C.'s Holding History (CIK: 0001536186)

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

Q4 2017

Shares 5,193 Value ($000) $176 Avg Close $36.81 Range $32.55 - $41.80

Q1 2017

Shares 11,044 Value ($000) $302 Avg Close $27.65 Range $25.35 - $31.10

Q4 2016

Shares 11,044 Value ($000) $302 Avg Close $26.83 Range $22.05 - $30.20

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2017	5,193	$176	$36.81	$32.55 - $41.80
Q1 2017	11,044	$302	$27.65	$25.35 - $31.10
Q4 2016	11,044	$302	$26.83	$22.05 - $30.20