Leroy T Jr Carlson - Feb 10, 2022 Form 4 Insider Report for TELEPHONE & DATA SYSTEMS INC /DE/ (TDS)

Signature
Julie D. Mathews, by power of atty
Stock symbol
TDS
Transactions as of
Feb 10, 2022
Transactions value $
-$535,635
Form type
4
Date filed
2/14/2022, 03:06 PM
Previous filing
Jan 6, 2022
Next filing
Mar 10, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TDS Common Shares Gift $0 -4.83K -8.47% $0.00 52.2K Jan 26, 2022 Direct
transaction TDS Common Shares Options Exercise $0 +72.9K +139.63% $0.00 125K Feb 10, 2022 Direct F1, F2
transaction TDS Common Shares Tax liability -$536K -26.4K -21.08% $20.32 98.7K Feb 10, 2022 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On May 22, 2019, the reporting person was granted financial-based performance share units that would be measured over a three year time period. The payout could be increased to 200% of target or reduced to 0% based on achievement of the key metrics. The performance share units have been accumulating quarterly dividend equivalents. Based on company performance over the three period ending on December 31, 2021, the Compensation and Human Resources Committee certified on February 10, 2022 that the reporting person was entitled to 91.5% of his target opportunity.
F2 Includes 5,242 shares owned by children. Reporting person disclaims beneficial ownership of shares owned by children.
F3 Shares withheld to taxes