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

Jan 10, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TELEPHONE & DATA SYSTEMS INC /DE/ (TDS)
CIK: 0001051512
Period of Report: 2023-01-09

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-01-09	Common Shares	M	13007	—	Acquired	13007	Direct
2023-01-09	Common Shares	F	3505	$11.53	Disposed	9501	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-01-09	Deferred Compensation	$	M	13007	Disposed		Common Shares (13007.0)	Direct

Footnotes

F1: Payout of deferred bonus. Reporting person deferred a portion of his 2019 bonus pursuant to the TDS Long-Term Incentive Plan. The deferred bonus has been invested in phantom stock now representing common shares, including dividend reinvestment. The price on January 9, 2023 was used to determine the payout for the deferred bonus shares. A total of 65,872 are vested.

F2: Withholding of common shares as settlement for taxes due in connection with settlement of the deferred compensation payout.