Kevin R. Lowell - 03 Mar 2025 Form 4 Insider Report for UNITED STATES CELLULAR CORP (USM)

Role: EVP, Chief People Officer
Signature: Julie D. Mathews, by power of atty
Issuer symbol: USM
Transactions as of: 03 Mar 2025
Transactions value $: $0
Form type: 4
Filing time: 07 Mar 2025, 17:15:42 UTC
Previous filing: 21 Feb 2025
Next filing: 06 Mar 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		+9.76K			9.76K	03 Mar 2025	Common Shares	9.76K		Direct	F1
transaction	USM	Performance Shares Units	Award		+7.32K			7.32K	03 Mar 2025	Common Shares	7.32K		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 annual 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 annual 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.