Leroy T Jr Carlson - Feb 21, 2025 Form 4 Insider Report for TELEPHONE & DATA SYSTEMS INC /DE/ (TDS)

Signature
Julie D. Mathews, by power of atty
Stock symbol
TDS
Transactions as of
Feb 21, 2025
Transactions value $
-$3,488,828
Form type
4
Date filed
2/25/2025, 04:22 PM
Previous filing
Jan 7, 2025
Next filing
Mar 10, 2025

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TDS Common Shares Award +212K +1987.93% 223K Feb 21, 2025 Direct F1
transaction TDS Common Shares Tax liability -$3.49M -91.9K -41.27% $37.96 131K Feb 21, 2025 Direct F2
holding TDS Common Shares 473K Feb 21, 2025 By 2024 Trust
holding TDS Common Shares 106K Feb 21, 2025 By Wife's Trust
holding TDS Common 78.9K Feb 21, 2025 By Trust
holding TDS Common Shares 212K Feb 21, 2025 By Trust
holding TDS Common Shares 1.81M Feb 21, 2025 By Voting Trust F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On May 19, 2022, the reporting person was granted financial-based performance share units that would be measured over a three year time period. The payout could be increased to 200% of target or reduced to 0% based on achievement of the key metrics. The performance share units have been accumulating quarterly dividend equivalents. Based on company performance over the three year period ending on December 31, 2024, the Compensation Human Resources Committee certified on February 21, 2025 that the reporting person was entitled to 85.0% of his target opportunity. The Performance Shares were certified and are now adjusted for performance and vested immediately on February 21, 2025. Each performance share unit represents the contingent right to receive one common share.
F2 Shares withheld to pay taxes
F3 Reporting person is one of four trustees of a trust which separately files on Form 4 for the issuer. The Common Shares reported are held by reporting person and his family members that have a pecuniary interest in such securities. Includes 693,620 Common Shares held by a family partnership of which reporting person is a general partner.