Leroy T Jr Carlson - Jan 8, 2024 Form 4 Insider Report for TELEPHONE & DATA SYSTEMS INC /DE/ (TDS)

Role
President and CEO, Director
Signature
Julie D. Mathews, by power of atty
Stock symbol
TDS
Transactions as of
Jan 8, 2024
Transactions value $
-$89,885
Form type
4
Date filed
1/9/2024, 04:05 PM
Previous filing
May 23, 2023
Next filing
Feb 21, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TDS Common Shares Options Exercise $0 +18.3K +10.63% $0.00 191K Jan 8, 2024 Direct F1
transaction TDS Common Shares Tax liability -$89.9K -4.94K -2.59% $18.21 186K Jan 8, 2024 Direct F2
holding TDS Common Shares 106K Jan 8, 2024 By wife

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 Options Exercise $0 -18.3K -25.65% $0.00 53.1K Jan 8, 2024 Common Shares 18.3K Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Payout of deferred bonus. Reporting person deferred a portion of his 2020 bonus pursuant the TDS Long-Term Incentive Plan. The deferred bonus has been invested in phantom stock now representing Common Shares, including dividend reinvestment. The price on January 8, 2024 was used to determine the payout for the deferred bonus shares. A total of 52,191 Common Shares are vested.
F2 Withholding of common shares as settlement for taxes due in connection with settlement of the deferred compensation payout.