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

Feb 2, 2023

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: TELEPHONE & DATA SYSTEMS INC /DE/ (TDS)
CIK: 0001051512
Period of Report: 2022-12-31

Reporting Person: CARLSON LEROY T JR (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-10-16	Common Shares	G	10000	—	Disposed	117029	Direct
2022-10-31	Common Shares	G	14000	—	Disposed	103029	Direct
2022-12-06	Common Shares	G	103029	—	Disposed	0	Direct
2022-10-16	Common Shares	G	10000	—	Acquired	10518	Indirect
2022-11-07	Common Shares	G	2586	—	Disposed	7932	Indirect
2022-12-06	Common Shares	G	103029	—	Acquired	110961	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	211758	Indirect
Common	78943	Indirect
Common Shares	23493	Indirect
Common Shares	1759584	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Series A Common Shares	$		Common Shares (1918692.0)	1918692	Indirect
Deferred Compensation	$		Common Shares (81757.0)	81757	Direct
Series A Common Shares	$		Common Shares (11424.0)	11424	Indirect
Series A Common Shares	$		Common Shares (11746.0)	11746	Indirect
Series A Common Shares	$		Common Shares (297.0)	297	Indirect

Footnotes

F1: Effective 12/31/22, reporting person is no longer including shares held by grown children no longer sharing his household in his ownership totals.

F2: Voluntary report of shares held in trust, the trustee of which is a third party and beneficiaries include reporting person's spouse and descendants

F3: The information is based on a plan statement dated 12/31/22. The number of shares fluctuates and is attributable to the price of the shares on 12/31/22.

F4: Reporting person is one of four trustees of a trust which is also a reporting person. The shares reported are held by respective reporting person and his family members that have a pecuniary interest in such securities. Includes 691,720 Common Shares held by a family partnership of which reporting person is a general partner.

F5: Series A Common shares are convertible, on a share-for-share basis, into common shares.

F6: Reporting person is one of four trustees of a trust which is also a reporting person. The shares reported are held by respective reporting person and his family members that have a pecuniary interest in such securities. Includes 753,934 Series A Common Shares held by a family partnership of which reporting person is a general partner.

F7: Reporting person deferred bonuses pursuant to the TDS Long Term Incentive Plans. Employer matches vest ratably at a rate of 33%, 33%, 34% over three years. A total of 78,879 common share units were vested at 12/31/22.