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

Feb 20, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TELEPHONE & DATA SYSTEMS INC /DE/ (TDS)
CIK: 0001051512
Period of Report: 2020-02-18

Reporting Person: Hanley Joseph R (SVP-Technology, Srvs & Strateg)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-02-18	Common Shares	M	4276	—	Acquired	18047	Direct
2020-02-18	Common Shares	F	1392	$25.17	Disposed	16655	Direct

Footnotes

F1: On May 24, 2017, 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, 2019, the Compensation Committee certified on February 18, 2020 that the reporting person was entitled to 59% of his target opportunity.

F2: Shares withheld to pay taxes