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

Jan 6, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TELEPHONE & DATA SYSTEMS INC /DE/ (TDS)
CIK: 0001051512
Period of Report: 2020-01-03

Reporting Person: CARLSON LEROY T JR (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-01-03	Common Shares	M	9280	—	Acquired	195858	Direct
2020-01-03	Common Shares	F	2501	$25.28	Disposed	193357	Direct
2020-01-02	Common Shares	G	1000	—	Disposed	192357	Direct
2020-01-03	Common Shares	G	2400	—	Disposed	189957	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-01-03	Deferred Compensation	$	M	9280	Disposed		Common Shares (9280.0)	Direct

Footnotes

F1: Payout of deferred bonus. Reporting person deferred a portion of his 2016 bonus pursuant to the TDS Long-Term Incentive Plan. The deferred bonus has been invested in phantom stock now representing common shares, including dividend reinvestment. The price on January 2, 2020 was used to determine the payout for the deferred bonus shares. A total of 46,790 are vested.

F2: Includes 3,768 shares owned by children. Reporting person denies beneficial ownership of shares owned by children.

F3: Withholding of common shares as settlement for taxes due in connection with settlement of the deferred compensation payout.

F4: By gift