<SEC-DOCUMENT>0000921895-25-000554.txt : 20250220
<SEC-HEADER>0000921895-25-000554.hdr.sgml : 20250220
<ACCEPTANCE-DATETIME>20250220165803
ACCESSION NUMBER:		0000921895-25-000554
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20250218
FILED AS OF DATE:		20250220
DATE AS OF CHANGE:		20250220

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Labor Impact Fund, L.P.
		CENTRAL INDEX KEY:			0001751369
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-09881
		FILM NUMBER:		25646422

	BUSINESS ADDRESS:	
		STREET 1:		900 NORTH MICHIGAN AVENUE
		STREET 2:		SUITE 1100
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60611
		BUSINESS PHONE:		(312) 506-6500

	MAIL ADDRESS:	
		STREET 1:		900 NORTH MICHIGAN AVENUE
		STREET 2:		SUITE 1100
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60611

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Sacks Michael Jay
		CENTRAL INDEX KEY:			0001509764
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-09881
		FILM NUMBER:		25646416

	MAIL ADDRESS:	
		STREET 1:		900 NORTH MICHIGAN AVENUE
		STREET 2:		SUITE 1100
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60611

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			GCM Investments GP, LLC
		CENTRAL INDEX KEY:			0001743984
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-09881
		FILM NUMBER:		25646420

	BUSINESS ADDRESS:	
		STREET 1:		900 NORTH MICHIGAN AVE
		STREET 2:		SUITE 1100
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60611
		BUSINESS PHONE:		312-506-6500

	MAIL ADDRESS:	
		STREET 1:		900 NORTH MICHIGAN AVE
		STREET 2:		SUITE 1100
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60611

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Grosvenor Capital Management Holdings, LLLP
		CENTRAL INDEX KEY:			0001743986
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-09881
		FILM NUMBER:		25646419

	BUSINESS ADDRESS:	
		STREET 1:		900 NORTH MICHIGAN AVE
		STREET 2:		SUITE 1100
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60611
		BUSINESS PHONE:		312-506-6500

	MAIL ADDRESS:	
		STREET 1:		900 NORTH MICHIGAN AVE
		STREET 2:		SUITE 1100
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60611

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			LIF AIV 1, L.P.
		CENTRAL INDEX KEY:			0002023029
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-09881
		FILM NUMBER:		25646421

	BUSINESS ADDRESS:	
		STREET 1:		C/O GROSVENOR CAPITAL MANAGEMENT, L.P.
		STREET 2:		900 NORTH MICHIGAN AVENUE, SUITE 1100
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60611
		BUSINESS PHONE:		3125066500

	MAIL ADDRESS:	
		STREET 1:		C/O GROSVENOR CAPITAL MANAGEMENT, L.P.
		STREET 2:		900 NORTH MICHIGAN AVENUE, SUITE 1100
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60611

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			GCM Grosvenor Inc.
		CENTRAL INDEX KEY:			0001819796
		STANDARD INDUSTRIAL CLASSIFICATION:	INVESTMENT ADVICE [6282]
		ORGANIZATION NAME:           	02 Finance
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-09881
		FILM NUMBER:		25646424

	BUSINESS ADDRESS:	
		STREET 1:		900 NORTH MICHIGAN AVENUE
		STREET 2:		SUITE 1100
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60611
		BUSINESS PHONE:		312-506-6500

	MAIL ADDRESS:	
		STREET 1:		900 NORTH MICHIGAN AVENUE
		STREET 2:		SUITE 1100
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60611

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			GCM V, LLC
		CENTRAL INDEX KEY:			0001831172
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-09881
		FILM NUMBER:		25646417

	BUSINESS ADDRESS:	
		STREET 1:		C/O GROSVENOR CAPITAL MANAGEMENT
		STREET 2:		900 NORTH MICHIGAN AVENUE, SUITE 1100
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60611
		BUSINESS PHONE:		(312) 506-6500

	MAIL ADDRESS:	
		STREET 1:		C/O GROSVENOR CAPITAL MANAGEMENT
		STREET 2:		900 NORTH MICHIGAN AVENUE, SUITE 1100
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60611

	FORMER NAME:	
		FORMER CONFORMED NAME:	GCM V, L.L.C.
		DATE OF NAME CHANGE:	20240801

	FORMER NAME:	
		FORMER CONFORMED NAME:	GCM V, LLC
		DATE OF NAME CHANGE:	20201104

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			GCM Grosvenor Holdings, LLC
		CENTRAL INDEX KEY:			0001939480
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-09881
		FILM NUMBER:		25646418

	BUSINESS ADDRESS:	
		STREET 1:		C/O GCM GROSVENOR INC.
		STREET 2:		900 NORTH MICHIGAN AVENUE, SUITE 1100
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60611
		BUSINESS PHONE:		(312) 506-6500

	MAIL ADDRESS:	
		STREET 1:		C/O GCM GROSVENOR INC.
		STREET 2:		900 NORTH MICHIGAN AVENUE, SUITE 1100
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60611

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			LIF Vista, LLC
		CENTRAL INDEX KEY:			0002023024
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-09881
		FILM NUMBER:		25646423

	BUSINESS ADDRESS:	
		STREET 1:		C/O GROSVENOR CAPITAL MANAGEMENT, L.P.
		STREET 2:		900 NORTH MICHIGAN AVENUE, SUITE 1100
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60611
		BUSINESS PHONE:		3125066500

	MAIL ADDRESS:	
		STREET 1:		C/O GROSVENOR CAPITAL MANAGEMENT, L.P.
		STREET 2:		900 NORTH MICHIGAN AVENUE, SUITE 1100
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60611

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SHENANDOAH TELECOMMUNICATIONS CO/VA/
		CENTRAL INDEX KEY:			0000354963
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813]
		ORGANIZATION NAME:           	06 Technology
		IRS NUMBER:				541162807
		STATE OF INCORPORATION:			VA
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		PO BOX 459
		STREET 2:		500 SHENTEL WAY
		CITY:			EDINBURG
		STATE:			VA
		ZIP:			22824
		BUSINESS PHONE:		5409844141

	MAIL ADDRESS:	
		STREET 1:		P O BOX 459
		STREET 2:		500 SHENTEL WAY
		CITY:			EDINBURG
		STATE:			VA
		ZIP:			22824
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form410826004she_02202025.xml
<DESCRIPTION>OWNERSHIP DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2025-02-18</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000354963</issuerCik>
        <issuerName>SHENANDOAH TELECOMMUNICATIONS CO/VA/</issuerName>
        <issuerTradingSymbol>SHEN</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001819796</rptOwnerCik>
            <rptOwnerName>GCM Grosvenor Inc.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>900 NORTH MICHIGAN AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 1100</rptOwnerStreet2>
            <rptOwnerCity>CHICAGO</rptOwnerCity>
            <rptOwnerState>IL</rptOwnerState>
            <rptOwnerZipCode>60611</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>See Explanation of Responses</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002023024</rptOwnerCik>
            <rptOwnerName>LIF Vista, LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>900 NORTH MICHIGAN AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 1100</rptOwnerStreet2>
            <rptOwnerCity>CHICAGO</rptOwnerCity>
            <rptOwnerState>IL</rptOwnerState>
            <rptOwnerZipCode>60611</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>See Explanation of Responses</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001751369</rptOwnerCik>
            <rptOwnerName>Labor Impact Fund, L.P.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>900 NORTH MICHIGAN AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 1100</rptOwnerStreet2>
            <rptOwnerCity>CHICAGO</rptOwnerCity>
            <rptOwnerState>IL</rptOwnerState>
            <rptOwnerZipCode>60611</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>See Explanation of Responses</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002023029</rptOwnerCik>
            <rptOwnerName>LIF AIV 1, L.P.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>900 NORTH MICHIGAN AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 1100</rptOwnerStreet2>
            <rptOwnerCity>CHICAGO</rptOwnerCity>
            <rptOwnerState>IL</rptOwnerState>
            <rptOwnerZipCode>60611</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>See Explanation of Responses</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001743984</rptOwnerCik>
            <rptOwnerName>GCM Investments GP, LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>900 NORTH MICHIGAN AVE</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 1100</rptOwnerStreet2>
            <rptOwnerCity>CHICAGO</rptOwnerCity>
            <rptOwnerState>IL</rptOwnerState>
            <rptOwnerZipCode>60611</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>See Explanation of Responses</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001743986</rptOwnerCik>
            <rptOwnerName>Grosvenor Capital Management Holdings, LLLP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>900 NORTH MICHIGAN AVE</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 1100</rptOwnerStreet2>
            <rptOwnerCity>CHICAGO</rptOwnerCity>
            <rptOwnerState>IL</rptOwnerState>
            <rptOwnerZipCode>60611</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>See Explanation of Responses</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001939480</rptOwnerCik>
            <rptOwnerName>GCM Grosvenor Holdings, LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>900 NORTH MICHIGAN AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 1100</rptOwnerStreet2>
            <rptOwnerCity>CHICAGO</rptOwnerCity>
            <rptOwnerState>IL</rptOwnerState>
            <rptOwnerZipCode>60611</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>See Explanation of Responses</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001831172</rptOwnerCik>
            <rptOwnerName>GCM V, LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>900 NORTH MICHIGAN AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 1100</rptOwnerStreet2>
            <rptOwnerCity>CHICAGO</rptOwnerCity>
            <rptOwnerState>IL</rptOwnerState>
            <rptOwnerZipCode>60611</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>See Explanation of Responses</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001509764</rptOwnerCik>
            <rptOwnerName>Sacks Michael Jay</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>900 NORTH MICHIGAN AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 1100</rptOwnerStreet2>
            <rptOwnerCity>CHICAGO</rptOwnerCity>
            <rptOwnerState>IL</rptOwnerState>
            <rptOwnerZipCode>60611</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>See Explanation of Responses</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>4105126</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By LIF Vista, LLC</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Restricted Stock Unit</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F3"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2025-02-18</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>10924</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2026-02-18</value>
            </exerciseDate>
            <expirationDate>
                <value>2026-02-18</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>10924</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>10924</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F4"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">This Form 4 is filed jointly by LIF Vista, LLC (&quot;LIF Vista&quot;), Labor Impact Fund, L.P. (&quot;Labor Fund&quot;), LIF AIV 1, L.P. (&quot;LIF AIV&quot;), GCM Investments GP, LLC (&quot;GCM GP&quot;), Grosvenor Capital Management Holdings, LLLP (&quot;Grosvenor Capital Holdings&quot;), GCM Grosvenor Holdings, LLC (&quot;GCM Holdings&quot;), GCM Grosvenor Inc. (&quot;GCM Grosvenor&quot;), GCM V, LLC (&quot;GCM V&quot;) and Michael J. Sacks (collectively, the &quot;Reporting Persons&quot;). Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein, and this report shall not be deemed to be an admission that any Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.</footnote>
        <footnote id="F2">Securities owned directly by LIF Vista. Labor Fund and LIF AIV, as the owners of all the outstanding membership interests of LIF Vista, may be deemed to beneficially own such securities. GCM GP, as the managing member of LIF Vista and the general partner of each of Labor Fund and LIF AIV, may be deemed to beneficially own such securities. Grosvenor Capital Holdings, as the sole member of GCM GP, may be deemed to beneficially own such securities. GCM Holdings, as the general partner of Grosvenor Capital Holdings, may be deemed to beneficially own such securities. GCM Grosvenor, as the sole member of GCM Holdings, may be deemed to beneficially own such securities. GCM V, as a shareholder of GCM Grosvenor, may be deemed to beneficially own such securities. Mr. Sacks, as the manager of GCM V, may be deemed to beneficially own such securities.</footnote>
        <footnote id="F3">Each restricted stock unit represents a contingent right to receive one share of common stock.</footnote>
        <footnote id="F4">Represents securities awarded to James DiMola in his capacity as a director of the Issuer. Mr. DiMola currently serves as LIF Vista's director designee on the Board of Directors of the Issuer. In connection with this arrangement, any equity-based securities awarded to Mr. DiMola in his capacity as a director of the Issuer will be held by Mr. DiMola on behalf of LIF Vista or its affiliates, transferred by Mr. DiMola to LIF Vista or its affiliates, and/or sold by Mr. DiMola, with the proceeds of such sale to be remitted to LIF Vista or its affiliates, in each case as directed by LIF Vista. Accordingly, LIF Vista and the other Reporting Persons may be deemed to have a pecuniary interest in these securities when awarded to Mr. DiMola for purposes of Section 16 of the Securities Exchange Act of 1934, as amended.</footnote>
    </footnotes>

    <remarks>The Reporting Persons may be deemed to be directors by deputization for purposes of Section 16 under the Securities Exchange Act of 1934, as amended, by virtue of the fact that James DiMola, a managing director of GCM Grosvenor L.P., an affiliate of the Reporting Persons, currently serves on the board of directors of the Issuer.</remarks>

    <ownerSignature>
        <signatureName>GCM Grosvenor Inc., By: /s/ Burke J. Montgomery, Authorized Signatory</signatureName>
        <signatureDate>2025-02-20</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>LIF Vista, LLC, By: /s/ Burke J. Montgomery, Authorized Signatory</signatureName>
        <signatureDate>2025-02-20</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Labor Impact Fund, L.P., By: /s/ Burke J. Montgomery, Authorized Signatory</signatureName>
        <signatureDate>2025-02-20</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>LIF AIV 1, L.P., By: /s/ Burke J. Montgomery, Authorized Signatory</signatureName>
        <signatureDate>2025-02-20</signatureDate>
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    <ownerSignature>
        <signatureName>GCM Investments GP, LLC, By: /s/ Burke J. Montgomery, Authorized Signatory</signatureName>
        <signatureDate>2025-02-20</signatureDate>
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    <ownerSignature>
        <signatureName>Grosvenor Capital Management Holdings, LLLP, By: /s/ Burke J. Montgomery, Authorized Signatory</signatureName>
        <signatureDate>2025-02-20</signatureDate>
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    <ownerSignature>
        <signatureName>GCM Grosvenor Holdings, LLC, By: /s/ Burke J. Montgomery, Authorized Signatory</signatureName>
        <signatureDate>2025-02-20</signatureDate>
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    <ownerSignature>
        <signatureName>GCM V, LLC, By: /s/ Burke J. Montgomery, Authorized Signatory</signatureName>
        <signatureDate>2025-02-20</signatureDate>
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    <ownerSignature>
        <signatureName>/s/ Michael J. Sacks</signatureName>
        <signatureDate>2025-02-20</signatureDate>
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</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
