Michael Irizarry - Mar 3, 2025 Form 4 Insider Report for UNITED STATES CELLULAR CORP (USM)

Role: EVP-CTO, Director
Signature: Julie D. Mathews, by power of atty
Stock symbol: USM
Transactions as of: Mar 3, 2025
Transactions value $: $0
Form type: 4
Date filed: 3/7/2025, 05:09 PM
Previous filing: Feb 21, 2025
Next filing: Mar 6, 2025
SEC: View on sec.gov

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	USM	Restricted Stock Units	Award		+15.3K			15.3K	Mar 3, 2025	Common Shares	15.3K		Direct	F1
transaction	USM	Performance Share Units	Award		+11.5K			11.5K	Mar 3, 2025	Common Shares	11.5K		Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	These restricted stock units were awarded under the United States Cellular Corporation Long-Term Incentive Plan. These restricted stock units will ratably vest on the first, second and third anniversaries of the grant date.
F2	On March 3, 2025, the reporting person was granted an award based on the achievement of certain performance measures, except that such award provides that in no event shall the number of shares subject to the award be less than 75% of the target opportunity as of the grant date. Accordingly, the reporting person is reporting a stock award of 75% of the target opportunity as of the grant date. To the extent that the actual amount is determined to be greater than 75% of the target opportunity based on the final determination of the performance measures, the reporting person will file a Form 4 at such time to report the additional award above 75% of the target opportunity.

Content

These restricted stock units were awarded under the United States Cellular Corporation Long-Term Incentive Plan. These restricted stock units will ratably vest on the first, second and third anniversaries of the grant date.

On March 3, 2025, the reporting person was granted an award based on the achievement of certain performance measures, except that such award provides that in no event shall the number of shares subject to the award be less than 75% of the target opportunity as of the grant date. Accordingly, the reporting person is reporting a stock award of 75% of the target opportunity as of the grant date. To the extent that the actual amount is determined to be greater than 75% of the target opportunity based on the final determination of the performance measures, the reporting person will file a Form 4 at such time to report the additional award above 75% of the target opportunity.