TELEPHONE & DATA SYSTEMS INC /DE/ — Director's Dealing 2022

May 23, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TELEPHONE & DATA SYSTEMS INC /DE/ (TDS)
CIK: 0001051512
Period of Report: 2022-05-22

Reporting Person: Hanley Joseph R (SVP-Strategy & Corp Dev)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-05-22	Common Shares	M	8557	—	Acquired	26457	Direct
2022-05-22	Common	F	2508	$17.45	Disposed	23949	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2022-05-22	Restricted Stock Units	$	M	8557	Disposed		Common Shares (8557.0)	Direct

Footnotes

F1: Restricted stock units awarded pursuant to the 2011 Long Term Incentive Plan. Stock units became vested on May 22, 2022.

F2: Shares withheld to pay taxes on restricted stock units that vested on May 22, 2022.

F3: The market was closed on vest date therefore the previous trading day's close, May 20, 2022, was used to value the transaction.