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

May 21, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TELEPHONE & DATA SYSTEMS INC /DE/ (TDS)
CIK: 0001051512
Period of Report: 2021-05-19

Reporting Person: McCahon Jane W (SVP Corp Relations & Corp Sec)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-05-19	Option (Right to Buy)	$25.36	A	7136	Acquired	2031-05-19	Common Shares (7136.0)	Direct
2021-05-19	Restricted Stock Units	$	A	8518	Acquired		Common Shares (8518.0)	Direct

Footnotes

F1: Granted under the 2020 Long-Term Incentive Plan. Options become exercisable on May 19, 2024.

F2: Restricted stock unit award pursuant to the 2020 Long-Term Incentive Plan. Stock units will become vested on May 19, 2024.