James W. Butman - May 17, 2025 Form 4 Insider Report for TELEPHONE & DATA SYSTEMS INC /DE/ (TDS)

Role
President & CEO of subsidiary, Director
Signature
Julie D. Mathews, by power of atty
Stock symbol
TDS
Transactions as of
May 17, 2025
Transactions value $
-$1,604,265
Form type
4
Date filed
5/20/2025, 04:28 PM
Previous filing
Feb 25, 2025
Next filing
May 22, 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Butman James W President & CEO of subsidiary, Director 30 N. LASALLE STREET, SUITE 4000, CHICAGO Julie D. Mathews, by power of atty 2025-05-20 0001725739

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TDS Common Shares Options Exercise +57.4K +24.5% 292K May 17, 2025 Direct F1
transaction TDS Common Shares Tax liability -$895K -25.6K -8.79% $34.93 266K May 17, 2025 Direct F2, F3
transaction TDS Common Shares Options Exercise +45.5K +17.11% 311K May 18, 2025 Direct F4
transaction TDS Common Shares Tax liability -$710K -20.3K -6.52% $34.93 291K May 18, 2025 Direct F3, F5

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 TDS Restricted Stock Units Options Exercise $0 -57.4K -50% $0.00 57.4K May 17, 2025 Common Shares 57.4K Direct F1
transaction TDS Restricted Stock Units Options Exercise $0 -45.5K -100% $0.00 0 May 18, 2025 Common Shares 45.5K Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Restricted stock units were awarded on May 17, 2023, pursuant to the 2022 Long Term Incentive Plan. One-third of the restricted stock units will vest on the first, second and third annual anniversaries of the Grant Date. This transaction represents settlement of the second vesting. Each restricted stock unit ("RSU") represents the right to receive one common share of the Issuer upon vesting of such RSU.
F2 Shares withheld to pay taxes on restricted stock units that vested on May 17, 2025.
F3 The market was closed on vest date therefore the previous trading day's close, May 16, 2025, was used to value the transaction.
F4 Restricted stock units awarded pursuant to the 2020 Long Term Incentive Plan. Restricted stock units became vested on May 18, 2025. Each restricted stock unit ("RSU") represents the right to receive one common share of the Issuer upon vesting of such RSU.
F5 Shares withheld to pay taxes on restricted stock units that vested on May 18, 2025.