TELEPHONE & DATA SYSTEMS INC /DE/ - Director's Dealing 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TELEPHONE & DATA SYSTEMS INC /DE/ (TDS)
CIK: 0001051512
Period of Report: 2020-05-21

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

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-05-24	Common	M	7842	—	Acquired	23703	Direct
2020-05-24	Common	F	2297	$19.64	Disposed	21406	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-05-21	Option (Right to Buy)	$19.15	A	11292	Acquired	2030-05-21	Common Shares (11292.0)	Direct
2020-05-21	Restricted Stock Units	$	A	10431	Acquired		Common Shares (10431.0)	Direct
2020-05-24	Restricted Stock Units	$	M	7842	Disposed		Common (7842.0)	Direct

F1: Restricted stock units awarded pursuant to the 2011 Long Term Incentive Plan. Restricted Stock units became vested on May 24, 2020.

F2: Shares withheld to pay taxes on restricted stock units that vested on May 24, 2020.

F3: Granted under the 2020 Long-Term Incentive Plan. Options become exercisable on May 21, 2023.

F4: Restricted stock unit award pursuant to the 2020 Long-Term Incentive Plan. Stock units will become vested on May 21, 2023.