Shenandoah Telecommunications Management

Management criteria checks 2/4

Shenandoah Telecommunications' CEO is Chris French, appointed in Apr 1988, has a tenure of 36.58 years. total yearly compensation is $3.42M, comprised of 20.2% salary and 79.8% bonuses, including company stock and options. directly owns 3.56% of the company’s shares, worth €23.85M. The average tenure of the management team and the board of directors is 5.4 years and 7.8 years respectively.

Key information

Chris French

Chief executive officer

US$3.4m

Total compensation

CEO salary percentage	20.2%
CEO tenure	36.6yrs
CEO ownership	3.6%
Management average tenure	5.4yrs
Board average tenure	7.8yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Chris French's remuneration changed compared to Shenandoah Telecommunications's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	-US$15m
Jun 30 2024	n/a	n/a	-US$8m
Mar 31 2024	n/a	n/a	US$3m
Dec 31 2023	US$3m	US$689k	US$8m
Sep 30 2023	n/a	n/a	-US$3m
Jun 30 2023	n/a	n/a	-US$5m
Mar 31 2023	n/a	n/a	-US$7m
Dec 31 2022	US$3m	US$684k	-US$8m
Sep 30 2022	n/a	n/a	-US$10m
Jun 30 2022	n/a	n/a	-US$469k
Mar 31 2022	n/a	n/a	US$4m
Dec 31 2021	US$2m	US$689k	US$8m
Sep 30 2021	n/a	n/a	US$12m
Jun 30 2021	n/a	n/a	US$7m
Mar 31 2021	n/a	n/a	US$4m
Dec 31 2020	US$3m	US$715k	US$2m
Sep 30 2020	n/a	n/a	US$130k
Jun 30 2020	n/a	n/a	-US$114k
Mar 31 2020	n/a	n/a	-US$11m
Dec 31 2019	US$3m	US$664k	US$2m
Sep 30 2019	n/a	n/a	US$18m
Jun 30 2019	n/a	n/a	US$33m
Mar 31 2019	n/a	n/a	US$54m
Dec 31 2018	US$2m	US$631k	US$2m
Sep 30 2018	n/a	n/a	US$92m
Jun 30 2018	n/a	n/a	US$80m
Mar 31 2018	n/a	n/a	US$71m
Dec 31 2017	US$2m	US$598k	US$66m

Compensation vs Market: Chris's total compensation ($USD3.42M) is above average for companies of similar size in the German market ($USD1.42M).

Compensation vs Earnings: Chris's compensation has increased whilst the company is unprofitable.

CEO

Chris French (66 yo)

36.6yrs

Tenure

US$3,418,824

Compensation

Mr. Christopher E. French, also known as Chris, has been the Chairman of Shenandoah Telecommunications Co. since 1996 and its Chief Executive Officer and President since April 1988. Mr. French serves as th...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Christopher French	Chairman	36.6yrs	US$3.42m	3.56% € 23.9m
James Volk	Senior VP of Finance	5.4yrs	US$1.65m	0.086% € 579.0k
Edward McKay	Executive VP & COO	3.3yrs	US$2.10m	0.14% € 925.7k
Elaine Cheng	Senior VP & Chief Information Officer	5.7yrs	US$1.14m	0.029% € 191.3k
Richard Mason	Senior Vice President of Engineering & Operations	5.5yrs	US$1.20m	0.032% € 217.4k
Derek Rieger	General Counsel	2.8yrs	no data	0.0079% € 53.0k
Dara Leslie	Senior Vice President of Sales & Marketing	2.4yrs	no data	0.0042% € 28.4k
Heather Tormey	VP & Chief Human Resources Officer	5.3yrs	US$797.40k	0.019% € 126.6k
Glenn Lytle	Senior Vice President of Commercial Sales	less than a year	no data	0.0037% € 24.5k
Ann Flowers	Associate General Counsel	11.8yrs	US$319.05k	no data
Kirk Andrews	Director of FP&A	no data	no data	no data

5.4yrs

Average Tenure

51yo

Average Age

Experienced Management: SH9's management team is seasoned and experienced (5.4 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Christopher French	Chairman	28.8yrs	US$3.42m	3.56% € 23.9m
Tracy Fitzsimmons	Lead Independent Director	19.5yrs	US$220.34k	0.072% € 483.1k
Kenneth Quaglio	Independent Director	7.8yrs	US$197.50k	0.039% € 262.0k
Richard Koontz	Independent Director	18.5yrs	US$195.00k	0.097% € 648.6k
John Flora	Independent Director	16.5yrs	US$205.84k	0.071% € 478.7k
Matthew DeNichilo	Independent Director	less than a year	no data	no data
Thomas Beckett	Independent Director	6.5yrs	US$193.34k	0.033% € 219.1k
James DiMola	Independent Director	less than a year	no data	no data
Leigh Schultz	Independent Director	8.3yrs	US$210.00k	0.038% € 256.2k
Michael Rhymes	Independent Director	less than a year	no data	0.00019% € 1.3k
Victor Barnes	Independent Director	2.8yrs	US$197.50k	0.020% € 131.4k

7.8yrs

Average Tenure

62yo

Average Age

Experienced Board: SH9's board of directors are considered experienced (7.8 years average tenure).

Shenandoah Telecommunications Management

Management criteria checks 2/4

Key information

Recent management updates

Chairman recently bought €252k worth of stock

Shenandoah Telecommunications Company Names Michael A. Rhymes to Board of Directors and to its Audit Committee

Chairman recently bought €228k worth of stock

Executive VP & COO recently bought €139k worth of stock

Glenn Lytle to Join the Shenandoah Telecommunications Company as Senior Vice President of Commercial Sales for the Combined Business

Shenandoah Telecommunications Company, Annual General Meeting, Apr 30, 2024

Recent updates

Third quarter 2024 earnings released: US$0.13 loss per share (vs US$0.032 profit in 3Q 2023)

Dividend of US$0.10 announced

Shenandoah Telecommunications Company Declares 2024 Annual Dividend, Payable on December 2, 2024

Chairman recently bought €252k worth of stock

Second quarter 2024 earnings released: US$0.23 loss per share (vs US$0.036 profit in 2Q 2023)

Shenandoah Telecommunications Company Names Michael A. Rhymes to Board of Directors and to its Audit Committee

Shenandoah Telecommunications Company to Report Q2, 2024 Results on Aug 07, 2024

Glo Fiber, Powered by Shenandoah Telecommunications Company Announces Plans to Deploy Next Generation, Fiber-Optic Broadband Services to Approximately 2,500 Homes and Businesses in Greenfield, Ohio

Chairman recently bought €228k worth of stock

Executive VP & COO recently bought €139k worth of stock

New minor risk - Share price stability

First quarter 2024 earnings released: US$0.081 loss per share (vs US$0.041 profit in 1Q 2023)

Shenandoah Telecommunications Company to Report Q1, 2024 Results on May 03, 2024

Glenn Lytle to Join the Shenandoah Telecommunications Company as Senior Vice President of Commercial Sales for the Combined Business

Shenandoah Telecommunications Company (NasdaqGS:SHEN) completed the acquisition of Horizon Telcom, Inc. from Novacap TMT V managed by Novacap Investments, Inc. and Labor Impact Fund, L.P. managed by GCM Grosvenor Inc. (NasdaqGM:GCMG).

New minor risk - Shareholder dilution

Shenandoah Telecommunications Company, Annual General Meeting, Apr 30, 2024

Full year 2023 earnings released: EPS: US$0.16 (vs US$0.17 loss in FY 2022)

Shenandoah Telecommunications Company to Report Q4, 2023 Results on Feb 21, 2024

Third quarter 2023 earnings released: EPS: US$0.032 (vs US$0.054 loss in 3Q 2022)

Shenandoah Telecommunications Company (NasdaqGS:SHEN) entered into a definitive agreement to acquire Horizon Telcom, Inc. from Novacap TMT V managed by Novacap Investments, Inc. and Labor Impact Fund, L.P. managed by Grosvenor Capital Management, L.P. (NasdaqGM:GCMG) for approximately $390 million.

Shenandoah Telecommunications Company (NasdaqGS:SHEN) entered into a definitive agreement to acquire Horizon Telcom, Inc. from Novacap TMT V managed by Novacap Investments, Inc. and Labor Impact Fund, L.P. managed by Grosvenor Capital Management, L.P. (NasdaqGM:GCMG) for approximately $390 million.

Shenandoah Telecommunications Company to Report Q3, 2023 Results on Nov 03, 2023

Second quarter 2023 earnings released: EPS: US$0.036 (vs US$0.064 loss in 2Q 2022)

Shenandoah Telecommunications Company to Report Q2, 2023 Results on Aug 02, 2023

First quarter 2023 earnings released: EPS: US$0.041 (vs US$0.012 loss in 1Q 2022)

Full year 2022 earnings released: US$0.17 loss per share (vs US$0.16 profit in FY 2021)

Shenandoah Telecommunications Company to Report Q4, 2022 Results on Feb 22, 2023

Shenandoah Telecommunications Company Announces Fiber-to-the-Home Upgrade in Radford, VA

Insufficient new directors

T-Mobile US, Inc. (NasdaqGS:TMUS) acquired Beam branded spectrum licenses and leases from Shenandoah Telecommunications Company (NasdaqGS:SHEN).

Third quarter 2022 earnings released: US$0.054 loss per share (vs US$0.13 profit in 3Q 2021)

An unknown buyer entered into an asset purchase agreement to acquire Beam branded spectrum licenses and leases of Shenandoah Telecommunications Company (NasdaqGS:SHEN) for $21.1 million.

Shenandoah Telecommunications Company Declares Cash Dividend, Payable on December 1, 2022

Shenandoah Telecommunications Company to Report Q3, 2022 Results on Nov 02, 2022

VP & Chief Human Resources Officer recently sold €60k worth of stock

Second quarter 2022 earnings released: US$0.064 loss per share (vs US$0.037 profit in 2Q 2021)

Shenandoah Telecommunications Company to Report Q2, 2022 Results on Aug 03, 2022

Shenandoah Telecommunications Company Receives Grant to Bring its Glo Fiber High-Speed Network to Frederick County, Maryland

Shenandoah Telecommunications Company(NasdaqGS:SHEN) dropped from Russell 2000 Growth-Defensive Index

Shenandoah Telecommunications Company Appoints Dara Leslie as Senior Vice President of Sales and Marketing

Chairman recently bought €240k worth of stock

Chairman recently bought €191k worth of stock

First quarter 2022 earnings released: US$0.012 loss per share (vs US$0.061 profit in 1Q 2021)

Insufficient new directors

Shenandoah Telecommunications Company to Report Q1, 2022 Results on Apr 28, 2022

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

Shenandoah Telecommunications Company Appoints Victor C. Barnes to Board of Directors

Shenandoah Telecommunications Company to Report Q4, 2021 Results on Feb 28, 2022

Third quarter 2021 earnings released: EPS US$0.14 (vs US$0.028 in 3Q 2020)

Senior Vice President of Sales & Marketing William Pirtle has left the company

Second quarter 2021 earnings released: EPS US$0.037 (vs US$0.011 loss in 2Q 2020)

Upcoming dividend of US$18.75 per share

Executive VP & COO David Heimbach has left the company

Shenandoah Telecommunications Company Declares Special Dividend, Payable on August 2, 2021

VP of Legal recently sold €841k worth of stock

First quarter 2021 earnings released: EPS US$0.061 (vs US$0.27 in 1Q 2020)

VP & Chief Accounting Officer has left the company

Shenandoah Telecommunications Company Provides Earnings Guidance for the Full Year Ending December 31, 2021

Shenandoah Telecommunications Company Announces Executive Changes

New 90-day high: €38.40

Shenandoah Telecommunications Company, Annual General Meeting, Apr 20, 2021

Full year 2020 earnings released: EPS US$0.053 (vs US$0.048 in FY 2019)

Revenue misses expectations

Shenandoah Telecommunications Company (NasdaqGS:SHEN) acquired Canaan Cable TV for $2.1 million.

Shenandoah Telecommunications Company to Report Q4, 2020 Results on Feb 25, 2021

New 90-day low: €33.60

New 90-day low: €34.80

New 90-day low: €35.60