TELEPHONE & DATA SYSTEMS INC /DE/ — Director's Dealing 2024

May 23, 2024

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TELEPHONE & DATA SYSTEMS INC /DE/ (TDS)
CIK: 0001051512
Period of Report: 2024-05-22

Reporting Person: CARLSON WALTER CD (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2024-05-22	Common Shares	A	6320	$19.25	Acquired	98991	Direct
2024-04-16	Common Shares	W	118135.0512	—	Acquired	217126.0512	Direct
2024-04-16	Common Shares	W	71988.9274	—	Acquired	2085193.9274	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2024-04-16	Series A Common Shares	$	W	27095.0579	Acquired		Common Shares (27095.0579)	Direct
2024-04-16	Series A Common Shares	$	W	80593.3192	Acquired		Common Shares (80593.3192)	Indirect

Footnotes

F1: Shares acquired pursuant to a compensation plan for non-employee directors

F2: Reporting person is one of four trustees of a voting trust which separately files on Form 4 for the issuer. The shares reported are held by respective reporting person and her family members that have a pecuniary interest in such securities. Includes 693,204 Common Shares held by a family partnership of which reporting person is a general partner.

F3: Series A Common Shares are convertible, on a share-for-share basis, into Common Shares.

F4: Reporting person is one of four trustees of a trust which separately files on Form 4 for the issuer. The shares reported are held by respective reporting person and his family members that have a pecuniary interest in such securities. Includes 755,686 Series A Common Shares held by a family partnership of which reporting person
is a general partner.