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

Jan 6, 2021

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: TELEPHONE & DATA SYSTEMS INC /DE/ (TDS)
CIK: 0001051512
Period of Report: 2020-12-31

Reporting Person: Carlson Prudence E (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-08-03	Common Shares	G	992	—	Disposed	1730834	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	63313	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Series A Common Shares	$		Common Shares (1883949.0)	1883949	Indirect
Series A Common Shares	$		Common Shares (198896.0)	198896	Direct

Footnotes

F1: Reporting person is one of four trustees of a voting trust which is record owner of these common shares and which files its holdings on a Form 4. Of these shares, 42,259 common shares held for the benefit of spouse and children. Includes 554,495 in reporting person's name, 423,111 are held by a Trust, and 20,629 in reporting person's Grantor Retained Annuity Trust (GRAT) both held for the benefit of the reporting person and 690,340 held by family partnerships of which reporting person is a general partner. Reporting person disclaims beneficial ownership of shares held for the benefit of persons other than the reporting person.

F2: Series A Common shares are convertible on a share for share basis into common.

F3: Reporting person is one of four trustees of a voting trust which is record owner of these Series A Common shares and which files its holdings on a Form 4. Of these shares, 423,111 are held by GRAT and 38,411 Series A common shares held for the benefit of spouse and children. Includes 1,422,427 shares which are held by family partnerships of which reporting person is a general partner. Reporting person disclaims beneficial ownership of shares held for the benefit of persons other than the reporting person.