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

Mar 14, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TELEPHONE & DATA SYSTEMS INC /DE/ (TDS)
CIK: 0001051512
Period of Report: 2016-03-11

Reporting Person: CARLSON LEROY T JR (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-01-11	Common Shares	G	2334	—	Disposed	61483	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-03-11	Deferred Compensation	$	A	12527	Acquired		Common Shares (65510)	Direct

Footnotes

F1: Reporting person deferred bonuses pursuant to the Long Term Incentive Plan, the employer match vests ratably at 33%, 33%, and 34% per year over a 3 year period. A total of 61,634 common shares are vested.

F2: By gift

F3: Includes 3768 shares owned by children. Reporting person disclaims beneficial ownership of shares owned by children.