(TDS)

Role: President of a Subsidiary
Signature: Julie D Mathews, by power of atty
Stock symbol: TDS
Transactions as of: Aug 12, 2025
Transactions value $: -$1,622,136
Form type: 4
Date filed: 8/14/2025, 04:09 PM
Previous filing: Aug 7, 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Chambers Douglas W	President of a Subsidiary	500 W. MADISON STREET, SUITE 810, CHICAGO	Julie D Mathews, by power of atty	2025-08-14	0001739622

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	TDS	Common Shares	Options Exercise	$204K	+6.63K	+50.44%	$30.72	19.8K	Aug 12, 2025	Direct
transaction	TDS	Common Shares	Options Exercise	$312K	+10.6K	+53.54%	$29.45	30.4K	Aug 12, 2025	Direct
transaction	TDS	Common Shares	Options Exercise	$322K	+11.6K	+38.19%	$27.79	42K	Aug 12, 2025	Direct
transaction	TDS	Common Shares	Sale	-$1.62M	-42K	-100%	$38.63	0	Aug 12, 2025	Direct	F1

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

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	TDS	Option (Rigft to Buy)	Options Exercise	-$204K	-6.63K	-100%	$30.72	Aug 12, 2025	Common Shares	6.63K	$30.72	Direct	F2
transaction	TDS	Option (Right to Buy)	Options Exercise	-$322K	-11.6K	-100%	$27.79	Aug 12, 2025	Common Shares	11.6K	$27.79	Direct	F2
transaction	TDS	Option (Right to Buy)	Options Exercise	-$312K	-10.6K	-100%	$29.45	Aug 12, 2025	Common Shares	10.6K	$29.45	Direct	F2

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

Explanation of Responses:

Id	Content
F1	There was 12,475.377 Common Shares sold at an average price of $38.50. Additionally, there was 29,517 Common Shares sold at an average price of $38.684 of which the shares were sold in multiple transactions at prices ranging from $38.595 and $38.96. The reporting person undertakes to provide to the SEC, the Issuer and any security holder, the full information regarding the number of shares and the prices at which the shares were sold. The total number of shares sold includes 14 shares acquired through dividend reinvestment.
F2	Granted under the Telephone and Data Systems, Inc. Long-Term Equity Plan. Option is currently exercisable.

Content

There was 12,475.377 Common Shares sold at an average price of $38.50. Additionally, there was 29,517 Common Shares sold at an average price of $38.684 of which the shares were sold in multiple transactions at prices ranging from $38.595 and $38.96. The reporting person undertakes to provide to the SEC, the Issuer and any security holder, the full information regarding the number of shares and the prices at which the shares were sold. The total number of shares sold includes 14 shares acquired through dividend reinvestment.

Granted under the Telephone and Data Systems, Inc. Long-Term Equity Plan. Option is currently exercisable.