Shentel Appoints New CFO, French
Ticker: SHEN · Form: 8-K · Filed: Aug 22, 2024 · CIK: 354963
Sentiment: neutral
Topics: executive-appointment, cfo, compensation
TL;DR
Shentel names new CFO, Christopher French, with a $375K salary and $750K stock grant.
AI Summary
Shenandoah Telecommunications Company (Shentel) announced on August 19, 2024, the appointment of Christopher L. French as Chief Financial Officer, effective August 23, 2024. French will receive an annual base salary of $375,000 and is eligible for an annual bonus. He will also be granted restricted stock units valued at $750,000, vesting over three years.
Why It Matters
The appointment of a new CFO is a significant leadership change that could impact the company's financial strategy and investor confidence.
Risk Assessment
Risk Level: medium — Changes in key executive positions like CFO can introduce uncertainty regarding future financial strategies and performance.
Key Numbers
- $375,000 — CFO Annual Base Salary (Represents the guaranteed compensation for the new Chief Financial Officer.)
- $750,000 — CFO Stock Grant Value (Indicates a significant equity incentive for the new Chief Financial Officer.)
Key Players & Entities
- Shenandoah Telecommunications Company (company) — Registrant
- Christopher L. French (person) — Appointed Chief Financial Officer
- $375,000 (dollar_amount) — Annual base salary for new CFO
- $750,000 (dollar_amount) — Value of restricted stock units granted to new CFO
- August 19, 2024 (date) — Date of report
- August 23, 2024 (date) — Effective date for new CFO
FAQ
Who has been appointed as the new Chief Financial Officer of Shenandoah Telecommunications Company?
Christopher L. French has been appointed as the new Chief Financial Officer.
When is the appointment of the new CFO effective?
The appointment of Christopher L. French as CFO is effective August 23, 2024.
What is the annual base salary for the new CFO?
The annual base salary for Christopher L. French is $375,000.
What is the value of the restricted stock units granted to the new CFO?
The new CFO, Christopher L. French, will be granted restricted stock units valued at $750,000.
Over what period will the new CFO's stock grant vest?
The restricted stock units granted to Christopher L. French will vest over three years.
Filing Stats: 429 words · 2 min read · ~1 pages · Grade level 13.4 · Accepted 2024-08-22 16:31:04
Filing Documents
- f8k_081924.htm (8-K) — 20KB
- logo.jpg (GRAPHIC) — 5KB
- 0001171843-24-004901.txt ( ) — 202KB
- shen-20240819.xsd (EX-101.SCH) — 3KB
- shen-20240819_lab.xml (EX-101.LAB) — 33KB
- shen-20240819_pre.xml (EX-101.PRE) — 22KB
- f8k_081924_htm.xml (XML) — 4KB
02
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On August 19, 2024, Dennis Romps, Vice President and Chief Accounting Officer of Shenandoah Telecommunications Company (the "Company"), notified the Company of his intention to resign from the Company, effective September 6, 2024. Effective upon his departure, James Volk, the Company's Senior Vice President and Chief Financial Officer, will serve as the Company's principal accounting officer and will continue to serve as the Company's principal financial officer.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. SHENANDOAH TELECOMMUNICATIONS COMPANY Dated: August 22, 2024 /s/ Derek C. Rieger Derek C. Rieger Vice President - Legal and General Counsel