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TELEPHONE & DATA SYSTEMS INC /DE/ — Director's Dealing 2024
Feb 22, 2024
31096_dirs_2024-02-21_0c152842-0de9-4ad7-835e-334bf0684113.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: TELEPHONE & DATA SYSTEMS INC /DE/ (TDS)
CIK: 0001051512
Period of Report: 2024-02-19
Reporting Person: Butman James W (Director, President & CEO of subsidiary)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2024-02-19 | Common Shares | A | 30810 | — | Acquired | 146310 | Direct |
| 2024-02-19 | Common Shares | F | 10048 | $14.04 | Disposed | 136262 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2024-02-19 | Performance Share Units | $ | A | 93403 | Acquired | Common Shares (93403) | Direct |
Footnotes
F1: On May 19, 2021, the reporting person was granted financial-based performance share units that would be measured over a three year time period. The payout could be increased to 200% of target or reduced to 0% based on achievement of the key metrics. The performance share units have been accumulating quarterly dividend equivalents. Based on company performance over the three year period ending on December 31, 2023, the Compensation Human Resources Committee certified on February 19, 2024 that the reporting person was entitled to 112.7% of his target opportunity. The Performance Shares were certified and are now adjusted for performance and vested immediately on February 19, 2024. Each performance share unit represents the contingent right to receive one common share.
F2: Shares withheld to pay taxes
F3: The market was closed on February 19, 2024, therefore the previous trading day's close, February 16, 2024 was used to value the transaction.
F4: On May 17, 2023, the reporting person was granted financial-based performance share units. The payout could be increased to 150% of target or reduced to 0% on achievement of the key metrics. Based on company performance at December 31, 2023, the Compensation Human Resources Committee certified on February 19, 2024 at 74.1%. The Performance Shares were certified and are now adjusted for performance and are time-based and will vest on May 17, 2026. The performance share units have been accumulating quarterly dividend equivalents. Each performance share unit represents the contingent right to receive one common share.