TELEPHONE & DATA SYSTEMS INC /DE/ - Director's Dealing 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: Butman James W (Director, President & CEO of subsidiary)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-05-22	Common	M	19732	—	Acquired	70060	Direct
2022-05-22	Common	F	6315	$17.45	Disposed	63745	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2022-05-22	Restricted Stock Units	$	M	19732	Disposed		Common Shares (19732.0)	Direct

F1: Restricted stock units awarded pursuant to the 2011 Long Term Incentive Plan. Restricted 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.