Laurent C. Therivel - 03 Apr 2025 Form 4 Insider Report for UNITED STATES CELLULAR CORP (USM)

Role
President and CEO, Director
Signature
Julie D Mathews, by power of atty
Issuer symbol
USM
Transactions as of
03 Apr 2025
Transactions value $
-$5,158,846
Form type
4
Filing time
07 Apr 2025, 16:22:19 UTC
Previous filing
06 Mar 2025
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction USM Common Shares Options Exercise +38.2K +34.07% 150K 03 Apr 2025 Direct F1
transaction USM Common Shares Tax liability -$1.16M -16.9K -11.26% $68.71 133K 03 Apr 2025 Direct F2
transaction USM Common Shares Options Exercise +73.2K +54.93% 207K 04 Apr 2025 Direct F3
transaction USM Common Shares Tax liability -$2.09M -32.4K -15.71% $64.48 174K 04 Apr 2025 Direct F2
transaction USM Common Shares Options Exercise +66.7K +38.27% 241K 04 Apr 2025 Direct F4
transaction USM Common Shares Tax liability -$1.9M -29.5K -12.26% $64.48 211K 04 Apr 2025 Direct F2

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 Options Exercise -38.2K -50% 38.2K 03 Apr 2025 Common Shares 38.2K Direct F1
transaction USM Restricted Stock Units Options Exercise -73.2K -100% 0 04 Apr 2025 Common Shares 73.2K Direct F3
transaction USM Performance Shares Units Options Exercise -66.7K -100% 0 04 Apr 2025 Common Shares 66.7K Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On April 3, 2023, reporting person was granted Restricted Stock Units (RSUs) under the United States Cellular Corporation Long-Term Incentive Plan. RSUs vest one-third each year on the first, second and third anniversaries of the grant date. This transaction represents settlement of the second vesting.
F2 Shares withheld to pay for taxes
F3 On April 4, 2022, these restricted stock units were awarded under the United States Cellular Corporation Long-Term Incentive Plan. These restricted stock units vest on the third anniversary of the transaction date and are now vested.
F4 On April 4, 2022 reporting person was granted an award based on achievement of certain performance measures and, effective November 27, 2023, the award was adjusted by the Long-Term Incentive Compensation Committee (LTICC) to provide for a payout at no less than 75% of the target opportunity of such award. Based on company performance at December 31, 2024, the LTICC certified on February 19, 2025 that the reporting person was entitled to 91% of his target opportunity. Performance share units are now vested.