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

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-05-24	Common Shares	M	8313	—	Acquired	24968	Direct
2020-05-24	Common	F	2435	$19.64	Disposed	22533	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-05-21	Option (Right to Buy)	$19.15	A	12423	Acquired	2030-05-21	Common Shares (12423.0)	Direct
2020-05-21	Restricted Stock Units	$	A	11286	Acquired		Common Shares (11286.0)	Direct
2020-05-24	Restricted Stock Units	$	M	8313	Disposed		Common Shares (8313.0)	Direct

F1: Restricted stock units awarded pursuant to the 2011 Long Term Incentive Plan. Stock units became vested on 5/24/20.

F2: Shares withheld to pay taxes on restricted stock units that vested on 5/24/20.

F3: Granted under the 2020 Long-Term Incentive Plan. Options become exercisable on May 21, 2023.

F4: Restricted stock unit award pursuant to the 2020 Long-Term Incentive Plan. Restricted Stock units will become vested on May 21, 2023.