TELEPHONE & DATA SYSTEMS INC /DE/ — Director's Dealing 2018

Jan 5, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TELEPHONE & DATA SYSTEMS INC /DE/ (TDS)
CIK: 0001051512
Period of Report: 2018-01-04

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-01-04	Common Shares	M	7034	—	Acquired	86466	Direct
2018-01-04	Common Shares	F	2107	$27.77	Disposed	84359	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-01-04	Deferred Compensation	$	M	7034	Disposed		Common shares (7034)	Direct

Footnotes

F1: Withholding of common shares as settlement for taxes due in consideration for settlement of the deferred compensation payout.

F2: Reporting person deferred a portion of his 2015 bonus pursuant to the TDS Long Term Incentive Plan. The deferred bonus has been invested in phantom stock now representing 7,034 common shares, including dividend reinvestment. The price on January 4, 2018 was used to determine the payout for the deferred bonus shares.

F3: Includes 3768 shares owned by children