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

Mar 21, 2016

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: TELEPHONE & DATA SYSTEMS INC /DE/ (TDS)
CIK: 0001051512
Period of Report: 2016-03-17

Reporting Person: McCahon Jane W (SVP Corp Relations & Corp Sec)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	2000	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Option (Right to Buy)	$26.66	2020-05-25	Common Shares (8600)		Direct
Option (Right to Buy)	$29.94	2021-05-13	Common Shares (9400)		Direct
Option (Right to Buy)	$22.60	2023-05-10	Common Shares (12761)		Direct
Option (Right to Buy)	$26.83	2024-05-16	Common Shares (14967)		Direct
Option (Right to Buy)	$29.26	2025-05-11	Common Shares (17727)		Direct
Restricted Stock Units	$		Common Shares (2530)		Direct
Restricted Stock Units	$		Common Shares (3476)		Direct
Restricted Stock Units	$		Common Shares (3920)		Direct

Footnotes

F1: Granted under the Long-Term Incentive Plan. Options vest over a 3 year period with one-third vesting on the first annual anniversary, one-third on the second annual anniversary and one-third on the third annual anniversary.

F2: Restricted stock unit award pursuant to the long term incentive plan. Stock units will become vested on the third annual anniversary.