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

Jan 10, 2020

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: TELEPHONE & DATA SYSTEMS INC /DE/ (TDS)
CIK: 0001051512
Period of Report: 2019-12-31

Reporting Person: Carlson Prudence E (Director)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	56129	Direct
Common Shares	1729474	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Series A Common Shares	$		Common Shares (1881354.0)	1881354	Indirect
Series A Common Shares	$		Common Shares (198136.0)	198136	Direct

Footnotes

F1: Reporting person is one of four trustees of a voting trust which is record owner of these common shares and which files its holdings on a Form 4. Of these shares, 40,672 common shares held for the benefit of spouse and children. Includes 555,487 in reporting person's name, 423,111 are held by a Trust, and 20,629 in reporting person's Grantor Retained Annuity Trust (GRAT) both held for the benefit of the reporting person and 689,575 held by family partnerships of which reporting person is a general partner. Reporting person disclaims beneficial ownership of shares held for the benefit of persons other than the reporting person.

F2: On August 28, the reporting person transferred 423,111 Series A Common voting trust certificates owned in a family partnership to herself individually and then transferred them from her individually into her GRAT. Additionally, on the same day, the reporting person transferred 423,111 Common shares from her GRAT to her Trust. The reporting person previously reported all of the securities. Accordingly, the transfer of voting trust certificates did not result in any change in the number of securities reported as beneficially owned by the reporting person.

F3: Series A Common shares are convertible on a share for share basis into common.

F4: Reporting person is one of four trustees of a voting trust which is record owner of these Series A Common shares and which files its holdings on a Form 4. Of these shares, 423,111 are held by GRAT and 36,968 Series A common shares held for the benefit of spouse and children. Includes 1,421,275 shares which are held by family partnerships of which reporting person is a general partner. Reporting person disclaims beneficial ownership of shares held for the benefit of persons other than the reporting person.