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

May 26, 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: DeWitt Daniel J. (SVP of Human Resources)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-05-21	Option (Right to Buy)	$19.15	A	12258	Acquired	2030-05-21	Common Shares (12258.0)	Direct
2020-05-21	Restricted Stock Units	$	A	11136	Acquired		Common Shares (11136.0)	Direct

Footnotes

F1: Granted under the 2020 Long-Term Incentive Plan. Options become exercisable on May 21, 2023.

F2: Restricted stock unit award pursuant to the 2020 Long-Term Incentive Plan. Restricted Stock units become vested on May 21, 2023.