Shenandoah Telecommunications Company (NASDAQ:SHEN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 29, 2017, Shenandoah Telecommunications Company (the “Company”) issued a press release announcing that James F. Woodward has joined the Company as Senior Vice President-Finance and Chief Financial Officer replacing Adele Skolits who left the Company on November 7, 2017.
Mr. Woodward, age 57, served as Senior Vice President – Finance and Chief Financial Officer of Media General, Inc. from 2011-2017 and also held several other management positions at Media General, Inc. from 1983-2011. Media General, Inc. was a publicly traded leading provider of proprietary local news and information over multiple media platforms throughout the Southeastern United States until it was sold to Nexstar Broadcasting in 2017.
Mr. Woodward will receive an initial base salary of $400,000. In addition, Mr. Woodward will be eligible to participate in the Company’s annual cash bonus plan with an initial target bonus of 60% of his base salary. Subject to final approval by the Company’s Board of Directors at its next regularly scheduled meeting, Mr. Woodward will receive an initial equity award of approximately $250,000 comprised of equal parts of time-based incentive stock options and restricted stock units with the exact number of shares to be decided based on the market price at the time of Board approval. Mr. Woodward will also be eligible for future annual equity awards as and when considered for other executives of the Company. Mr. Woodward will also be entitled to participate in the Company’s medical, dental, 401(k) and other standard benefit plans as generally available to Company employees.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits Index
| Exhibit No. | Description |
| 99.1 | Press Release Issued November 29, 2017 by Shenandoah Telecommunications Company |
SHENANDOAH TELECOMMUNICATIONS CO/VA/ ExhibitEX-99.1 2 exh_991.htm PRESS RELEASE EdgarFilingEXHIBIT 99.1James F. Woodward Joins Shenandoah Telecommunications Company as Senior Vice President,…To view the full exhibit click here
About Shenandoah Telecommunications Company (NASDAQ:SHEN)
Shenandoah Telecommunications Company is a telecommunications holding company. The Company, through its subsidiaries, provides both regulated and unregulated telecommunications services to end user customers and other telecommunications providers. Its segments include Wireless, which provides digital wireless service to a portion of over four-state area covering the region from Harrisburg, York and Altoona, Pennsylvania, to Harrisonburg, Virginia; Cable segment, which provides video, Internet and voice services in franchise areas in portions of Virginia, West Virginia and western Maryland, and leases fiber optic facilities throughout its service area; Wireline segment, which provides regulated and unregulated voice services, digital subscriber lines Internet access and long distance access services throughout Shenandoah county, and Other segment, which includes operations of the Company. Its subsidiaries include NTELOS Holdings Corp. and Shenandoah Personal Communications, LLC.
