Michael Irizarry - Feb 14, 2024 Form 4 Insider Report for UNITED STATES CELLULAR CORP (USM)

Role
EVP-CTO
Signature
Julie D Mathews, by power of atty
Stock symbol
USM
Transactions as of
Feb 14, 2024
Transactions value $
$0
Form type
4
Date filed
2/16/2024, 06:23 PM
Previous filing
Nov 29, 2023
Next filing
Mar 5, 2024

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 USM Performance Share Units Award +3.38K +20% 20.3K Feb 14, 2024 Common Shares 3.38K Direct F1
transaction USM Performance Share Units Award +52K 52K Feb 14, 2024 Common Shares 52K Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On April 5, 2021 reporting person was granted an award based on achievement of certain performance measures and, effective May 23, 2023, the award was adjusted by the Long-Term Incentive Compensation Committee (LTICC) to provide for a payout at no less than 75% of the target opportunity of such award. Based on company performance at December 31, 2023, the LTICC certified on February 14, 2024 that the reporting person was entitled to 90% of his target opportunity. Performance share units are now adjusted for performance and are time-based and vest on April 5, 2024. Each performance share unit represents the contingent right to receive one common share.
F2 On April 3, 2023, the reporting person was granted an award based on the achievement of certain performance measures. Based on company performance at December 31, 2023, the LTICC certified on February 14, 2024 that the reporting person was entitled to 119% of his target opportunity. Performance share units are now adjusted for performance and are time-based and vest on April 3, 2026.