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Shenandoah Telecommunications Executive Compensation (FY25)

SHEN · Executive and director compensation, fiscal 2023 to 2025
Chief executive, fiscal 2025
◇
Christopher French
Latest say-on-pay support
=
April 21, 2026
Chief executive pay ratio
◇
To the median employee
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Data as of October 29, 2026Latest filing (8-K): April 23, 2026
8 filings cited on this page
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274 figures on this page: 267 cited to the filing that reported them, 7 calculated from figures it prints. See the citations
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Christopher French: $3,347,146 → $3,007,359 (10.2% lower)
Say-on-pay support: 98.1% → 97.8% (0.3 points lower)

Frequently asked questions

Answers drawn from the data on this page.
Who is Shenandoah Telecommunications' chief executive and what were they paid?
Total compensation for Christopher French, Executive Chairman (served as President and CEO until August 31), came to $3,007,359 in fiscal 2025. Compared with the $3,347,146 reported for fiscal 2024, French's total was 10.2% lower.
What was Shenandoah Telecommunications' say-on-pay result?
For fiscal 2025, shareholders backed the say-on-pay proposal with 97.8% of votes cast for or against in favor at the meeting held April 21, 2026.
Which companies are in Shenandoah Telecommunications' peer group?
The disclosed peer group names 8X8, Inc., A10 Networks, Inc., ATN International, Inc., Aviat Networks, Inc. and Bandwidth Inc., among others.
What is Shenandoah Telecommunications' chief executive pay ratio?
The disclosed chief executive pay ratio for fiscal 2025 is 36:1.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Christopher French
Executive Chairman (served as President and CEO until August 31)
◇—◇—◇—◇◇
Edward McKay
President and CEO (served as EVP and COO until August 31)
◇—◇—◇—◇◇
James Volk
SVP–Finance and CFO
◇—◇—◇—◇◇
Richard Mason
SVP-Eng & Ops
◇—◇—◇—◇◇
Elaine Cheng
SVP and CIO
◇—◇—◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Christopher French
Executive Chairman (served as President and CEO until August 31)
◇—◇—◇—◇◇
Edward McKay
President and CEO (served as EVP and COO until August 31)
◇—◇—◇—◇◇
James Volk
SVP–Finance and CFO
◇—◇—◇—◇◇
Richard Mason
SVP-Eng & Ops
◇—◇—◇—◇◇
Elaine Cheng
SVP and CIO
◇—◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Christopher French
Executive Chairman (served as President and CEO until August 31)
◇—◇—◇—◇◇
Edward McKay
President and CEO (served as EVP and COO until August 31)
◇—◇—◇—◇◇
James Volk
SVP–Finance and CFO
◇—◇—◇—◇◇
Richard Mason
SVP-Eng & Ops
◇—◇—◇—◇◇
Elaine Cheng
SVP and CIO
◇—◇—◇—◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Christopher E. FrenchPSU◇◇◇—◇—◇
Christopher E. FrenchRSU◇——◇——◇
Edward H. McKayRSU◇——◇——◇
Edward H. McKayPSU◇◇◇———◇
Edward H. McKayPSU◇◇◇—◇—◇
Elaine M. ChengPSU◇◇◇———◇
Elaine M. ChengPSU◇◇◇—◇—◇
Elaine M. ChengRSU◇——◇——◇
James J. VolkPSU◇◇◇———◇
James J. VolkPSU◇◇◇—◇—◇
James J. VolkRSU◇——◇——◇
Richard W. MasonPSU◇◇◇———◇
Richard W. MasonPSU◇◇◇—◇—◇
Richard W. MasonRSU◇——◇——◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Christopher FrenchPSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Edward McKayPSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
James VolkPSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Richard MasonPSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Elaine ChengPSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Tracy Fitzsimmons
Lead independent director
◇◇————◇
Leigh Ann Schultz
◇◇————◇
John W. Flora
◇◇————◇
Michael A. Rhymes
◇◇————◇
Kenneth L. Quaglio
◇◇————◇
Matthew S. DeNichilo
◇◇————◇
Victor C. Barnes
◇◇————◇
Richard L. Koontz Jr
◇◇————◇
James F. DiMola
◇◇————◇
Thomas A. Beckett
◇◇————◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Lead independent director premium◇
Audit committee chair◇
Audit committee member◇
Compensation committee chair◇
Compensation committee member◇
Nominating and governance chair◇
Nominating and governance member◇

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • 8X8, Inc. EGHT
  • A10 Networks, Inc. ATEN
  • ATN International, Inc. ATNI
  • Aviat Networks, Inc. AVNW
  • Bandwidth Inc. BAND
  • Clearfield, Inc. CLFD
  • Cogent Communications Holdings, Inc. CCOI
  • Consolidated Communications Holdings, Inc. CNSL
  • CouchBase, Inc. BASE
  • Digi International Inc. DGII
  • Digital Turbine, Inc. APPS
  • Globalstar, Inc. GSAT
  • Gogo Inc. GOGO
  • Harmonic Inc. HLIT
  • InterDigital, Inc. IDCC
  • Iridium Communications Inc. IRDM
  • Ooma, Inc. OOMA
  • Progress Software Corporation PRGS
  • Spok Holdings, Inc. SPOK
  • Tucows Inc. TCX
  • WideOpenWest, Inc. WOW

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025April 21, 2026=◇◇◇
2024April 22, 2025=◇◇◇
2023April 30, 2024=◇◇◇
2022April 25, 2023=◇◇◇
2021April 19, 2022=◇◇◇
2020April 20, 2021=◇◇◇
2019April 21, 2020=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇

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Sample answer — “What is the CEO’s total compensation?”
- Edward McKay (President and CEO (served as EVP and COO until August 31)), FY2025 total compensation $2,270,866 (base salary $494,568) [exec_comp, SEC accession 0000354963-26-000145, filed 2026-03-09]

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What this page does not include

Everything above is a fact Shenandoah Telecommunications disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Shenandoah Telecommunications sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
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Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
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Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
274 figures on this page: 267 cited to the filing that reported them, 7 calculated from figures it prints.
267 cited to the filing
7 calculated from the filing

Documents cited

  1. 0001171843-26-002650
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0000354963-26-000145
    Director Compensation · Grants of Plan-Based Awards · Outstanding Equity Awards at Fiscal Year-End · Pay Ratio Disclosure · and 1 more section
  3. 0001171843-25-002444
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0001171843-24-002398
  5. 0001171843-23-002594
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0001171843-22-002727
    Item 5.07 Submission of Matters to a Vote of Security Holders
  7. 0001171843-21-002674
    Item 5.07 Submission of Matters to a Vote of Security Holders
  8. 0001171843-20-002799
    Item 5.07 Submission of Matters to a Vote of Security Holders
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Velarion, “Shenandoah Telecommunications executive compensation, FY2023–FY2025.” https://intel.velarion.ai/comp/SHEN (accessed 2026).
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8 filings cited on this page
Method: intel.velarion.ai/methodology
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Peers Shenandoah Telecommunications discloses

The companies named in SHEN's own disclosed peer group.

8X8, Inc.A10 Networks, Inc.ATN International, Inc.Aviat Networks, Inc.Bandwidth Inc.Clearfield, Inc.Cogent Communications Holdings, Inc.CouchBase, Inc.Digi International Inc.Digital Turbine, Inc.Globalstar, Inc.Gogo Inc.Harmonic Inc.InterDigital, Inc.Iridium Communications Inc.Ooma, Inc.Progress Software CorporationSpok Holdings, Inc.Tucows Inc.WideOpenWest, Inc.

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies

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Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
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