Michael Irizarry - Apr 1, 2022 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: Apr 1, 2022
Transactions value $: -$387,036
Form type: 4
Date filed: 4/5/2022, 09:25 AM
Next filing: Apr 6, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	USM	Common Shares	Options Exercise	$0	+17K		$0.00	17K	Apr 1, 2022	Direct	F1
transaction	USM	Common Shares	Options Exercise	$0	+16.2K	+95.27%	$0.00	33.3K	Apr 1, 2022	Direct	F2
transaction	USM	Common Shares	Tax liability	-$387K	-12.3K	-37.03%	$31.40	21K	Apr 1, 2022	Direct	F3

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	Restricted Stock Units	Options Exercise	$0	-17K	-100%	$0.00^*	0	Apr 1, 2022	Common Shares	17K	$0.00	Direct	F1
transaction	USM	Performance Share Units	Options Exercise	$0	-16.2K	-100%	$0.00^*	0	Apr 1, 2022	Common Shares	16.2K		Direct	F2
transaction	USM	Restricted Stock Units	Award	$0	+27.4K		$0.00	27.4K	Apr 4, 2022	Common Shares	27.4K	$0.00	Direct	F4

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

Explanation of Responses:

Id	Content
F1	Vesting of restricted stock units that were awarded on April 1, 2019 under the United States Cellular Corporation Long-Term Incentive Plan.
F2	Vesting of performance share units granted on April 1, 2019. Performance share units were adjusted for performance and became time based on March 16, 2020.
F3	Shares withheld to pay for taxes
F4	These restricted stock units were awarded under the United States Cellular Corporation Long-Term Incentive Plan. These restricted stock units will vest on the third anniversary of the transaction date.