TELEPHONE & DATA SYSTEMS INC /DE/ - Director's Dealing 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TELEPHONE & DATA SYSTEMS INC /DE/ (TDS)
CIK: 0001051512
Period of Report: 2021-05-23

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

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-05-23	Common Shares	M	57261	—	Acquired	97371	Direct
2021-05-23	Common Shares	F	24020	$25.50	Disposed	73351	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-05-23	Restricted Stock Units	$	M	57261	Disposed		Common Shares (57261.0)	Direct

F1: Restricted stock units awarded pursuant to the 2011 Long Term Incentive Plan. Restricted stock units that became vested on May 23, 2021.

F2: Includes 3768 shares owned by children. Reporting person disclaims beneficial ownership of shares owned by children.

F3: Shares withheld to pay taxes on restricted stock units that vested on May 23, 2021.

F4: The market was closed on vest date therefore the previous trading day's close, May 21, 2021, was used to value the transaction.