TELEPHONE & DATA SYSTEMS INC /DE/ — Director's Dealing 2019

Feb 21, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TELEPHONE & DATA SYSTEMS INC /DE/ (TDS)
CIK: 0001051512
Period of Report: 2019-02-19

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-02-01	Common Shares	G	4000	—	Disposed	133740	Direct
2019-02-07	Common Shares	G	300	—	Disposed	133440	Direct
2019-02-20	Common Shares	G	1500	—	Disposed	131940	Direct
2019-02-19	Common Shares	M	51248	—	Acquired	183188	Direct
2019-02-19	Common Shares	F	22702	$36.59	Disposed	160486	Direct

Footnotes

F1: By gift

F2: Includes 3,768 shares owned by children. Reporting person disclaims beneficial ownership of shares owned by children.

F3: Shares withheld to taxes

F4: On August 16, 2016, the reporting person was granted financial-based performance share units that would be measured over a three year time period. The payout could be increased to 200% of target or reduced to 0% based on achievement of the key metrics. The performance share units have been accumulating quarterly dividend equivalents. Based on company performance over the three period ending on December 31, 2018, the Compensation Committee certified on February 19, 2019 that the reporting person was entitled to 107% of his target opportunity.