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: Kroll Anita J (VP, Controller & CAO)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-05-24	Common Shares	M	1194	—	Acquired	1893	Direct
2020-05-24	Common Shares	F	382	$19.64	Disposed	1511	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-05-21	Option (Right to Buy)	$19.15	A	3864	Acquired	2030-05-21	Common (3864.0)	Direct
2020-05-21	Restricted Stock Units	$0.0	A	3267	Acquired		Common (3267.0)	Direct
2020-05-24	Restricted Stock Units	$	M	1194	Disposed	2020-05-24	Common Shares (1194.0)	Direct

F1: Restricted stock units awarded pursuant to the 2011 Long Term Incentive Plan. 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: Options granted under the 2020 Long-Term Incentive Plan. Options become exercisable on May 21, 2023.

F4: Restricted stock units awarded pursuant to the 2020 Long-Term Incentive Plan. Restricted stock units vest on May 21, 2023.