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[Form 4] Shenandoah Telecom Co Insider Trading Activity

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Rhea-AI Filing Summary

Paychex Inc. (PAYX) 鈥� Form 5 Annual Statement of Changes in Beneficial Ownership

The filing reports the end-of-fiscal-year (31 May 2025) equity holdings of Mark Anthony Bottini, Senior Vice President of Sales. No new insider transactions are listed for the period; the document only updates cumulative ownership.

  • Direct common-stock holding: 79,360 shares
  • Indirect holding: 1,772 shares through the company 401(k) plan
  • Employee Stock Purchase Plan (ESPP): 36 shares
  • Outstanding stock options: 383,887 options across ten grants with strike prices ranging from $57.24 to $121.63 and expiration dates from July 2026 to July 2034

The absence of reported acquisitions or dispositions suggests that Mr. Bottini neither bought nor sold PAYX shares during FY 2025 under Section 16 reporting rules. His sizable equity and option position continues to align management incentives with shareholder interests, but the filing itself does not signal an operational or financial change for the company.

Paychex Inc. (PAYX) 鈥� Modulo 5 Dichiarazione Annuale delle Variazioni nella Propriet脿 Beneficiaria

Il documento riporta le partecipazioni azionarie al termine dell'esercizio fiscale (31 maggio 2025) di Mark Anthony Bottini, Vicepresidente Senior delle Vendite. Non sono indicate nuove transazioni interne per il periodo; il documento aggiorna solamente la propriet脿 cumulativa.

  • Detenzione diretta di azioni ordinarie: 79.360 azioni
  • Detenzione indiretta: 1.772 azioni tramite il piano 401(k) aziendale
  • Piano di Acquisto Azionario per Dipendenti (ESPP): 36 azioni
  • Opzioni azionarie in essere: 383.887 opzioni distribuite su dieci concessioni con prezzi di esercizio compresi tra 57,24 $ e 121,63 $ e scadenze da luglio 2026 a luglio 2034

L'assenza di acquisizioni o cessioni segnalate suggerisce che il Sig. Bottini non abbia n茅 acquistato n茅 venduto azioni PAYX durante l'esercizio 2025 secondo le norme di segnalazione della Sezione 16. La sua consistente posizione azionaria e di opzioni continua ad allineare gli incentivi della direzione con gli interessi degli azionisti, ma il documento stesso non indica cambiamenti operativi o finanziari per l'azienda.

Paychex Inc. (PAYX) 鈥� Formulario 5 Declaraci贸n Anual de Cambios en la Propiedad Beneficiaria

El informe presenta las participaciones accionarias al cierre del a帽o fiscal (31 de mayo de 2025) de Mark Anthony Bottini, Vicepresidente Senior de Ventas. No se registran nuevas transacciones internas durante el per铆odo; el documento solo actualiza la propiedad acumulada.

  • Tenencia directa de acciones comunes: 79,360 acciones
  • Tenencia indirecta: 1,772 acciones a trav茅s del plan 401(k) de la empresa
  • Plan de Compra de Acciones para Empleados (ESPP): 36 acciones
  • Opciones de acciones vigentes: 383,887 opciones distribuidas en diez concesiones con precios de ejercicio que van desde $57.24 a $121.63 y fechas de vencimiento desde julio de 2026 hasta julio de 2034

La ausencia de adquisiciones o disposiciones reportadas sugiere que el Sr. Bottini no compr贸 ni vendi贸 acciones de PAYX durante el a帽o fiscal 2025 bajo las reglas de reporte de la Secci贸n 16. Su considerable posici贸n en acciones y opciones contin煤a alineando los incentivos de la gerencia con los intereses de los accionistas, pero el informe en s铆 no indica un cambio operativo o financiero para la compa帽铆a.

Paychex Inc. (PAYX) 鈥� 鞏戩嫕 5 鞐瓣皠 靾橃澋 靻岇湢甓� 氤�霃� 氤搓碃靹�

鞚� 氍胳劀電� Mark Anthony Bottini 鞓侅梾攵� 靾橃劃 攵�靷灔鞚� 須岅硠鞐半弰 毵�(2025雲� 5鞗� 31鞚�) 欤检嫕 氤挫湢 順勴櫓鞚� 氤搓碃頃╇媹雼�. 頃措嫻 旮瓣皠 霃欖晥 靸堧鞖� 雮措秬鞛� 瓯半灅電� 鞐嗢溂氅�, 氍胳劀電� 雸勳爜 靻岇湢甓岆 鞐呺嵃鞚错姼頃╇媹雼�.

  • 歆侅爲 氤错喌欤� 氤挫湢: 79,360欤�
  • 臧勳爲 氤挫湢: 須岇偓 401(k) 頂岆灉鞚� 韱淀暅 1,772欤�
  • 歆侅洂 欤检嫕 甑Г 瓿勴殟(ESPP): 36欤�
  • 氙疙枆靷� 欤检嫕 鞓奠厴: 頄夓偓 臧�瓴╈澊 57.24雼煬鞐愳劀 121.63雼煬 靷澊鞚搓碃 毵岆鞚检澊 2026雲� 7鞗旊秬韯� 2034雲� 7鞗旉箤歆�鞚� 10瓯挫潣 攵�鞐棎 瓯胳硱 齑� 383,887臧� 鞓奠厴

氤搓碃霅� 鞚胳垬 霕愲姅 觳橂秳鞚� 鞐嗠嫟電� 鞝愳潃 Bottini 攵�靷灔鞚� 2025 須岅硠鞐半弰 霃欖晥 靹轨厴 16 氤搓碃 攴滌爼鞐� 霐半澕 PAYX 欤检嫕鞚� 毵れ垬頃橁卑雮� 毵る弰頃橃 鞎婌晿鞚岇潉 鞁滌偓頃╇媹雼�. 攴胳潣 靸侂嫻頃� 欤检嫕 氚� 鞓奠厴 氤挫湢電� 瓴届榿歆勳潣 鞚胳劶韹半笇毳� 欤检＜ 鞚挫澋瓿� 鞚检箻鞁滍偆電� 鞐暊鞚� 歆�靻嶍晿歆�毵�, 鞚� 氤搓碃靹滊姅 須岇偓鞚� 鞖挫榿 霕愲姅 鞛 氤�頇� 鞁犿樃毳� 雮橅儉雮挫 鞎婌姷雼堧嫟.

Paychex Inc. (PAYX) 鈥� Formulaire 5 D茅claration Annuelle des Modifications de la Propri茅t茅 B茅n茅ficiaire

Le d茅p么t rapporte les participations en actions au 31 mai 2025, fin de l'exercice fiscal, de Mark Anthony Bottini, Vice-Pr茅sident Principal des Ventes. Aucune nouvelle transaction d'initi茅 n'est mentionn茅e pour la p茅riode ; le document met uniquement 脿 jour la propri茅t茅 cumulative.

  • D茅tention directe d'actions ordinaires : 79 360 actions
  • D茅tention indirecte : 1 772 actions via le plan 401(k) de l'entreprise
  • Plan d'Achat d'Actions Employ茅s (ESPP) : 36 actions
  • Options d'achat d'actions en cours : 383 887 options r茅parties sur dix attributions avec des prix d'exercice allant de 57,24 $ 脿 121,63 $ et des dates d'expiration entre juillet 2026 et juillet 2034

L'absence d'acquisitions ou de cessions signal茅es sugg猫re que M. Bottini n'a ni achet茅 ni vendu d'actions PAYX durant l'exercice 2025 selon les r猫gles de d茅claration de la Section 16. Sa position importante en actions et options continue d'aligner les incitations de la direction avec les int茅r锚ts des actionnaires, mais le d茅p么t lui-m锚me ne signale aucun changement op茅rationnel ou financier pour la soci茅t茅.

Paychex Inc. (PAYX) 鈥� Formular 5 Jahreserkl盲rung 眉ber 脛nderungen im wirtschaftlichen Eigentum

Die Einreichung berichtet 眉ber die Aktienbest盲nde von Mark Anthony Bottini, Senior Vice President Sales, zum Ende des Gesch盲ftsjahres (31. Mai 2025). F眉r den Zeitraum sind keine neuen Insider-Transaktionen aufgef眉hrt; das Dokument aktualisiert lediglich den kumulierten Besitz.

  • Direkter Besitz von Stammaktien: 79.360 Aktien
  • Indirekter Besitz: 1.772 Aktien 眉ber den firmeninternen 401(k)-Plan
  • Mitarbeiter-Aktienkaufplan (ESPP): 36 Aktien
  • Ausstehende Aktienoptionen: 383.887 Optionen verteilt auf zehn Zuteilungen mit Aus眉bungspreisen von 57,24 $ bis 121,63 $ und Laufzeiten von Juli 2026 bis Juli 2034

Das Fehlen gemeldeter K盲ufe oder Verk盲ufe deutet darauf hin, dass Herr Bottini im Gesch盲ftsjahr 2025 gem盲脽 den Meldevorschriften der Sektion 16 keine PAYX-Aktien gekauft oder verkauft hat. Seine umfangreiche Aktien- und Optionsposition sorgt weiterhin f眉r eine Ausrichtung der Managementanreize auf die Interessen der Aktion盲re, jedoch signalisiert die Einreichung selbst keine operative oder finanzielle Ver盲nderung des Unternehmens.

Positive
  • None.
Negative
  • None.

Insights

TL;DR: Routine Form 5; confirms sizeable insider alignment, no trading activity, minimal market impact.

This annual Form 5 discloses only Mr. Bottini鈥檚 cumulative holdings. The direct stake of ~79k shares (鈮�$9 million at $115/share) plus 384k options provides meaningful economic exposure, reinforcing incentive alignment. However, without purchase or sale transactions, it conveys no new sentiment signal. Investors typically view static year-end reports as administrative, with little predictive value for price movement.

TL;DR: Neutral filing; positions unchanged, no liquidity events, not trade-worthy.

The document confirms Mr. Bottini鈥檚 long-dated option portfolio and share ownership but introduces no catalysts. Strike prices on newer grants (> $112) imply confidence in long-term appreciation, yet such grants are standard practice. With no Form 4 trades, I consider the filing non-impactful for portfolio decisions.

Paychex Inc. (PAYX) 鈥� Modulo 5 Dichiarazione Annuale delle Variazioni nella Propriet脿 Beneficiaria

Il documento riporta le partecipazioni azionarie al termine dell'esercizio fiscale (31 maggio 2025) di Mark Anthony Bottini, Vicepresidente Senior delle Vendite. Non sono indicate nuove transazioni interne per il periodo; il documento aggiorna solamente la propriet脿 cumulativa.

  • Detenzione diretta di azioni ordinarie: 79.360 azioni
  • Detenzione indiretta: 1.772 azioni tramite il piano 401(k) aziendale
  • Piano di Acquisto Azionario per Dipendenti (ESPP): 36 azioni
  • Opzioni azionarie in essere: 383.887 opzioni distribuite su dieci concessioni con prezzi di esercizio compresi tra 57,24 $ e 121,63 $ e scadenze da luglio 2026 a luglio 2034

L'assenza di acquisizioni o cessioni segnalate suggerisce che il Sig. Bottini non abbia n茅 acquistato n茅 venduto azioni PAYX durante l'esercizio 2025 secondo le norme di segnalazione della Sezione 16. La sua consistente posizione azionaria e di opzioni continua ad allineare gli incentivi della direzione con gli interessi degli azionisti, ma il documento stesso non indica cambiamenti operativi o finanziari per l'azienda.

Paychex Inc. (PAYX) 鈥� Formulario 5 Declaraci贸n Anual de Cambios en la Propiedad Beneficiaria

El informe presenta las participaciones accionarias al cierre del a帽o fiscal (31 de mayo de 2025) de Mark Anthony Bottini, Vicepresidente Senior de Ventas. No se registran nuevas transacciones internas durante el per铆odo; el documento solo actualiza la propiedad acumulada.

  • Tenencia directa de acciones comunes: 79,360 acciones
  • Tenencia indirecta: 1,772 acciones a trav茅s del plan 401(k) de la empresa
  • Plan de Compra de Acciones para Empleados (ESPP): 36 acciones
  • Opciones de acciones vigentes: 383,887 opciones distribuidas en diez concesiones con precios de ejercicio que van desde $57.24 a $121.63 y fechas de vencimiento desde julio de 2026 hasta julio de 2034

La ausencia de adquisiciones o disposiciones reportadas sugiere que el Sr. Bottini no compr贸 ni vendi贸 acciones de PAYX durante el a帽o fiscal 2025 bajo las reglas de reporte de la Secci贸n 16. Su considerable posici贸n en acciones y opciones contin煤a alineando los incentivos de la gerencia con los intereses de los accionistas, pero el informe en s铆 no indica un cambio operativo o financiero para la compa帽铆a.

Paychex Inc. (PAYX) 鈥� 鞏戩嫕 5 鞐瓣皠 靾橃澋 靻岇湢甓� 氤�霃� 氤搓碃靹�

鞚� 氍胳劀電� Mark Anthony Bottini 鞓侅梾攵� 靾橃劃 攵�靷灔鞚� 須岅硠鞐半弰 毵�(2025雲� 5鞗� 31鞚�) 欤检嫕 氤挫湢 順勴櫓鞚� 氤搓碃頃╇媹雼�. 頃措嫻 旮瓣皠 霃欖晥 靸堧鞖� 雮措秬鞛� 瓯半灅電� 鞐嗢溂氅�, 氍胳劀電� 雸勳爜 靻岇湢甓岆 鞐呺嵃鞚错姼頃╇媹雼�.

  • 歆侅爲 氤错喌欤� 氤挫湢: 79,360欤�
  • 臧勳爲 氤挫湢: 須岇偓 401(k) 頂岆灉鞚� 韱淀暅 1,772欤�
  • 歆侅洂 欤检嫕 甑Г 瓿勴殟(ESPP): 36欤�
  • 氙疙枆靷� 欤检嫕 鞓奠厴: 頄夓偓 臧�瓴╈澊 57.24雼煬鞐愳劀 121.63雼煬 靷澊鞚搓碃 毵岆鞚检澊 2026雲� 7鞗旊秬韯� 2034雲� 7鞗旉箤歆�鞚� 10瓯挫潣 攵�鞐棎 瓯胳硱 齑� 383,887臧� 鞓奠厴

氤搓碃霅� 鞚胳垬 霕愲姅 觳橂秳鞚� 鞐嗠嫟電� 鞝愳潃 Bottini 攵�靷灔鞚� 2025 須岅硠鞐半弰 霃欖晥 靹轨厴 16 氤搓碃 攴滌爼鞐� 霐半澕 PAYX 欤检嫕鞚� 毵れ垬頃橁卑雮� 毵る弰頃橃 鞎婌晿鞚岇潉 鞁滌偓頃╇媹雼�. 攴胳潣 靸侂嫻頃� 欤检嫕 氚� 鞓奠厴 氤挫湢電� 瓴届榿歆勳潣 鞚胳劶韹半笇毳� 欤检＜ 鞚挫澋瓿� 鞚检箻鞁滍偆電� 鞐暊鞚� 歆�靻嶍晿歆�毵�, 鞚� 氤搓碃靹滊姅 須岇偓鞚� 鞖挫榿 霕愲姅 鞛 氤�頇� 鞁犿樃毳� 雮橅儉雮挫 鞎婌姷雼堧嫟.

Paychex Inc. (PAYX) 鈥� Formulaire 5 D茅claration Annuelle des Modifications de la Propri茅t茅 B茅n茅ficiaire

Le d茅p么t rapporte les participations en actions au 31 mai 2025, fin de l'exercice fiscal, de Mark Anthony Bottini, Vice-Pr茅sident Principal des Ventes. Aucune nouvelle transaction d'initi茅 n'est mentionn茅e pour la p茅riode ; le document met uniquement 脿 jour la propri茅t茅 cumulative.

  • D茅tention directe d'actions ordinaires : 79 360 actions
  • D茅tention indirecte : 1 772 actions via le plan 401(k) de l'entreprise
  • Plan d'Achat d'Actions Employ茅s (ESPP) : 36 actions
  • Options d'achat d'actions en cours : 383 887 options r茅parties sur dix attributions avec des prix d'exercice allant de 57,24 $ 脿 121,63 $ et des dates d'expiration entre juillet 2026 et juillet 2034

L'absence d'acquisitions ou de cessions signal茅es sugg猫re que M. Bottini n'a ni achet茅 ni vendu d'actions PAYX durant l'exercice 2025 selon les r猫gles de d茅claration de la Section 16. Sa position importante en actions et options continue d'aligner les incitations de la direction avec les int茅r锚ts des actionnaires, mais le d茅p么t lui-m锚me ne signale aucun changement op茅rationnel ou financier pour la soci茅t茅.

Paychex Inc. (PAYX) 鈥� Formular 5 Jahreserkl盲rung 眉ber 脛nderungen im wirtschaftlichen Eigentum

Die Einreichung berichtet 眉ber die Aktienbest盲nde von Mark Anthony Bottini, Senior Vice President Sales, zum Ende des Gesch盲ftsjahres (31. Mai 2025). F眉r den Zeitraum sind keine neuen Insider-Transaktionen aufgef眉hrt; das Dokument aktualisiert lediglich den kumulierten Besitz.

  • Direkter Besitz von Stammaktien: 79.360 Aktien
  • Indirekter Besitz: 1.772 Aktien 眉ber den firmeninternen 401(k)-Plan
  • Mitarbeiter-Aktienkaufplan (ESPP): 36 Aktien
  • Ausstehende Aktienoptionen: 383.887 Optionen verteilt auf zehn Zuteilungen mit Aus眉bungspreisen von 57,24 $ bis 121,63 $ und Laufzeiten von Juli 2026 bis Juli 2034

Das Fehlen gemeldeter K盲ufe oder Verk盲ufe deutet darauf hin, dass Herr Bottini im Gesch盲ftsjahr 2025 gem盲脽 den Meldevorschriften der Sektion 16 keine PAYX-Aktien gekauft oder verkauft hat. Seine umfangreiche Aktien- und Optionsposition sorgt weiterhin f眉r eine Ausrichtung der Managementanreize auf die Interessen der Aktion盲re, jedoch signalisiert die Einreichung selbst keine operative oder finanzielle Ver盲nderung des Unternehmens.

SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
ECP ControlCo, LLC
(Last) (First) (Middle)
40 BEECHWOOD ROAD
(Street)
SUMMIT, NJ 07901
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
SHENANDOAH TELECOMMUNICATIONS CO/VA/ [ SHEN ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
07/11/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 07/11/2025 P(1) 8,000 A $14.76(2) 2,801,015 I See Footnotes(3)(4)
Common Stock 07/14/2025 P(1) 21,137 A $15.2777(5) 2,822,152 I See Footnotes(3)(4)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
1. Name and Address of Reporting Person*
ECP ControlCo, LLC
(Last) (First) (Middle)
40 BEECHWOOD ROAD
(Street)
SUMMIT, NJ 07901
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
Energy Capital Partners IV, LLC
(Last) (First) (Middle)
40 BEECHWOOD ROAD
(Street)
SUMMIT, NJ 07901
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
Energy Capital Partners GP IV, LP
(Last) (First) (Middle)
40 BEECHWOOD ROAD
(Street)
SUMMIT, NJ 07901
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
ENERGY CAPITAL PARTNERS IV-A, LP
(Last) (First) (Middle)
40 BEECHWOOD ROAD
(Street)
SUMMIT, NJ 07901
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
ENERGY CAPITAL PARTNERS IV-B, LP
(Last) (First) (Middle)
40 BEECHWOOD ROAD
(Street)
SUMMIT, NJ 07901
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
ENERGY CAPITAL PARTNERS IV-C, LP
(Last) (First) (Middle)
40 BEECHWOOD ROAD
(Street)
SUMMIT, NJ 07901
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
ENERGY CAPITAL PARTNERS IV-D, LP
(Last) (First) (Middle)
40 BEECHWOOD ROAD
(Street)
SUMMIT, NJ 07901
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
Energy Capital Partners IV-B (Hill City IP), LP
(Last) (First) (Middle)
40 BEECHWOOD ROAD
(Street)
SUMMIT, NJ 07901
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
Explanation of Responses:
1. The purchases reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Hill City Holdings, LP ("Hill City") on June 5, 2025.
2. The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $14.57 to $14.815. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
3. The securities are held of record by Hill City. ECP ControlCo, LLC is the managing member of Energy Capital Partners IV, LLC, which is the general partner of Energy Capital Partners GP IV, LP, which is the general partner of each of (i) Energy Capital Partners IV-A, LP, (ii) Energy Capital Partners IV-B, LP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP (the "Funds"). Energy Capital Partners GP IV, LP is also the general partner of Energy Capital Partners IV-B (Hill City IP), LP ("Hill City IP"). Each of (i) Energy Capital Partners IV-A, LP, (ii) Hill City IP, (iii) Energy Capital Partners IV-C, LP, and (iv) Energy Capital Partners IV-D, LP are the members of Hill City Holdings GP, LLC, which is the general partner of Hill City.
4. ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC. As a result of these relationships, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by Hill City. Each such entity and individual disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.
5. The price reported in Column 4 is a weighted-average price. These shares were purchased in multiple transactions at prices ranging from $14.98 to $15.835. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
Remarks:
Due to filing limitations of the electronic filing system, each of ECP Fiber Holdings GP, LLC, ECP Fiber Holdings, LP, Hill City Holdings GP, LLC and Hill City Holdings, LP are filing a separate Form 4.
ECP ControlCo, LLC, By: /s/ Jennifer Gray, General Counsel 07/15/2025
Energy Capital Partners IV, LLC, By: ECP ControlCo, LLC, its managing member, By: /s/ Jennifer Gray, General Counsel 07/15/2025
Energy Capital Partners GP IV, LP, By: Energy Capital Partners IV, LLC, its general partner, By: ECP ControlCo, LLC, its managing member, By: /s/ Jennifer Gray, General Counsel 07/15/2025
Energy Capital Partners IV-A, LP, By Energy Capital Partners GP IV, LP, its general partner, By Energy Capital Partners IV, LLC, its general partner, By ECP ControlCo, LLC, its managing member, By /s/ Jennifer Gray, General Counsel 07/15/2025
Energy Capital Partners IV-B, LP, By Energy Capital Partners GP IV, LP, its general partner, By Energy Capital Partners IV, LLC, its general partner, By ECP ControlCo, LLC, its managing member, By /s/ Jennifer Gray, General Counsel 07/15/2025
Energy Capital Partners IV-C, LP, By Energy Capital Partners GP IV, LP, its general partner, By Energy Capital Partners IV, LLC, its general partner, By ECP ControlCo, LLC, its managing member, By /s/ Jennifer Gray, General Counsel 07/15/2025
Energy Capital Partners IV-D, LP, By: Energy Capital Partners GP IV, LP, its GP, By: Energy Capital Partners IV, LLC, its GP, By: ECP ControlCo, LLC, its managing member, By: /s/ Jennifer Gray, General Counsel 07/15/2025
Energy Capital Partners IV-B (Hill City IP), LP, By Energy Capital Partners IV-B, LP, By Energy Capital Partners GP IV, LP, By Energy Capital Partners IV, LLC, By ECP ControlCo, LLC, By /s/ Jennifer Gray, General Counsel 07/15/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source:

FAQ

How many Paychex (PAYX) shares does Mark Anthony Bottini directly own?

He directly owns 79,360 shares of Paychex common stock.

What is the total number of Paychex stock options held by Mr. Bottini?

He holds 383,887 stock options across ten separate grants.

Were any Paychex shares bought or sold by Mr. Bottini during fiscal 2025?

No. The Form 5 lists holdings only; it reports no acquisitions or dispositions for the year.

What is the highest strike price among Mr. Bottini鈥檚 outstanding options?

The highest strike price is $121.63 on options expiring 14 July 2034.

Does this Form 5 filing affect Paychex鈥檚 financial outlook?

No. The filing is an administrative disclosure of insider holdings and contains no operational or financial guidance for the company.
Stock SHEN logo
Shenandoah Telecommunications

NASDAQ:SHEN

SHEN Rankings

#3940 Ranked by Market Cap
N/A Ranked by Dividends

SHEN Latest News

Jul 17, 2025
Shenandoah Telecommunications Company to Hold its Second Quarter 2025 Earnings Call at 4:30 p.m. on Thursday, July 31, 2025.
Jul 15, 2025
Glo Fiber Expands High-Speed Fiber Optic Internet in York County, PA
Jul 8, 2025
Glo Fiber Expanding High-Speed Fiber Optic Internet in Frederick County, MD
Jul 2, 2025
Glo Fiber Launches Lightning-Fast Fiber Internet in Hillsboro, Ohio
Jun 20, 2025
Glo Fiber to Expand in Blacksburg, Virginia with Acquisition of WideOpen Blacksburg Network

SHEN Latest SEC Filings

Jul 17, 2025
[Form 4] Shenandoah Telecom Co Insider Trading Activity
Jul 17, 2025
[Form 4] Shenandoah Telecom Co Insider Trading Activity
Jul 15, 2025
[Form 4] Shenandoah Telecom Co Insider Trading Activity
Jul 11, 2025
[Form 4] Shenandoah Telecom Co Insider Trading Activity
Jul 11, 2025
[Form 4] Shenandoah Telecom Co Insider Trading Activity

SHEN Stock Data

816.27M
49.56M
4.46%
67.48%
3.97%
Telecom Services
Telephone Communications (no Radiotelephone)
United States
EDINBURG