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

Feb 24, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TELEPHONE & DATA SYSTEMS INC /DE/ (TDS)
CIK: 0001051512
Period of Report: 2021-02-22

Reporting Person: SEREDA PETER L (Senior VP-Finance)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-02-22	Common Shares	M	12414	—	Acquired	41802	Direct
2021-02-22	Common Shares	F	3753	$18.03	Disposed	38049	Direct

Footnotes

F1: On May 23, 2018, the reporting person was granted financial-based performance share units that would be measured over a three year time period. The payout could be increased to 200% of target or reduced to 0% based on achievement of the key metrics. The performance share units have been accumulating quarterly dividend equivalents. Based on company performance over the three period ending on December 31, 2020, the Compensation Committee certified on February 22, 2021 that the reporting person was entitled to 99.7% of his target opportunity.

F2: Shares withheld to pay taxes