Carlson Leroy T. Jr. - 13 Mar 2026 Form 4 Insider Report for TELEPHONE & DATA SYSTEMS INC /DE/ (TDS)

Role: Vice Chair, Director
Signature: Julie D. Mathews, by power of atty
Issuer symbol: TDS
Transactions as of: 13 Mar 2026
Net transactions value: $0
Form type: 4
Filing time: 17 Mar 2026, 09:05:21 UTC
Previous filing: 27 Feb 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
CARLSON LEROY T JR	Vice Chair, Director	30 N. LASALLE STREET, SUITE 4000, CHICAGO	Julie D. Mathews, by power of atty	17 Mar 2026	0000901731

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	Deferred Compensation	Award		+3,480	+6%		61,073	13 Mar 2026	Common Shares	3,480		Direct	F1

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

Explanation of Responses:

Id	Content
F1	Reporting person deferred a portion of his bonus into TDS stock pursuant to the Long Term Incentive Plan. Reporting person is 100% vested in all bonus amounts and receives an employer match that vests ratably at 33%, 33% and 34% per year over a 3 year period. A total of 58,745 are vested which includes 14,684 dividend equivalent units.