TELEPHONE & DATA SYSTEMS INC /DE/ — Director's Dealing 2016

Aug 17, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TELEPHONE & DATA SYSTEMS INC /DE/ (TDS)
CIK: 0001051512
Period of Report: 2016-08-15

Reporting Person: SEREDA PETER L (Senior VP-Finance & Treasurer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-08-15	Option (Right to buy)	$29.45	A	9905	Acquired	2026-05-11	Common Shares (9905)	Direct
2016-08-15	Restricted stock units	$	A	13702	Acquired		Common Shares (13702)	Direct

Footnotes

F1: Granted under the 2011 Long-Term Incentive Plan. Options vest on May 11, 2019.

F2: Restricted stock units award pursuant to the long term incentive plan. Stock units will vest on May 11, 2019.