Joseph R. Hanley - 25 Feb 2026 Form 4 Insider Report for TELEPHONE & DATA SYSTEMS INC /DE/ (TDS)

Signature
Julie D. Mathews, by power of atty
Issuer symbol
TDS
Transactions as of
25 Feb 2026
Net transactions value
$0
Form type
4
Filing time
27 Feb 2026, 16:10:45 UTC
Previous filing
18 Aug 2025

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Hanley Joseph R SVP-Strategy & Corp Dev 30 N. LASALLE STREET, SUITE 4000, CHICAGO Julie D. Mathews, by power of atty 27 Feb 2026 0001298040

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 Performance Share Units Award +4,606 +198% 6,934 25 Feb 2026 Common Shares 4,606 Direct F1
transaction TDS Performance Share Units Award +7,126 +86% 15,399 25 Feb 2026 Common Shares 7,126 Direct F2
transaction TDS Performance Share Units Award +17,550 +47% 54,590 25 Feb 2026 Common Shares 17,550 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On May 21, 2025, the reporting person was granted financial-based performance share units based on the performance of three key metrics and the payout could be increased to 168% of target or reduced to 24% on achievement of the key metrics. Based on company performance at December 31, 2025, the Compensation Human Resources Committee certified on February 25, 2026 two of the three metrics at 71.5%. The Performance Shares representing the two metrics were certified and now adjusted for performance, time-based and will vest on December 31, 2027. The final metric is measured over a three year time period ending December 31, 2027, and remains subject to approval, and any accrued dividend equivalents pursuant to this metric are subject to forfeiture if such metric does not achieve the minimum performance attainment. The performance share units have been accumulating quarterly dividend equivalents. Each performance share unit represents the contingent right to receive one common share.
F2 On June 11, 2024, the reporting person was granted financial-based performance share units based on the performance of three key metrics. The payout could be increased to 192% of target or reduced to 0% on achievement of the key metrics. Based on performance at December 31, 2025, the Compensation Human Resources Committee certified on February 25, 2026, the second metric at 83.8%. The first metric was certified on March 12, 2025 at 145.9%. Performance Shares representing the two metrics are now certified and adjusted for performance, time-based and will vest on June 11, 2027. The final metric is measured over a three year time period ending December 31, 2026, and remains subject to approval, and any dividend equivalents pursuant to this metric are subject to forfeiture if metric does not achieve minimum performance. Performance share units have been accumulating quarterly dividend equivalents. Each performance share unit represents the contingent right to receive one common share.
F3 On May 17, 2023, the reporting person was granted financial-based performance share units based on the performance of three key metrics. The payout could be increased to 160% of target or reduced to 0% on achievement of the key metrics. Based on company performance at December 31, 2025, the Compensation Human Resources Committee certified the third and final metric on February 25, 2026 at 200%. The Performance Shares representing the previously reported two metrics were certified on February 19, 2024, and are now adjusted for performance, time-based and will vest on May 17, 2026. The performance share units have been accumulating quarterly dividend equivalents. Each performance share unit represents the contingent right to receive one common share.