TELEPHONE & DATA SYSTEMS INC /DE/ — Director's Dealing 2023

May 23, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TELEPHONE & DATA SYSTEMS INC /DE/ (TDS)
CIK: 0001051512
Period of Report: 2023-05-21

Reporting Person: Kroll Anita J (VP, Controller & CAO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-05-21	Common Shares	M	3267	—	Acquired	10193	Direct
2023-05-21	Common Shares	F	1046	$6.95	Disposed	9147	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-05-21	Restricted Stock Units	$	M	3267	Disposed		Common Shares (3267.0)	Direct

Footnotes

F1: Restricted stock units awarded pursuant to the 2020 Long Term Incentive Plan. Stock units became vested on May 21, 2023.

F2: Shares withheld to pay taxes on Restricted Stock Units that vested on May 21, 2023.

F3: The market was closed on vest date therefore the previous trading day's close, May 19, 2023, was used to value the transaction.