TELEPHONE & DATA SYSTEMS INC /DE/ — Director's Dealing 2025

Aug 18, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TELEPHONE & DATA SYSTEMS INC /DE/ (TDS)
CIK: 0001051512
Period of Report: 2025-08-18

Reporting Person: Carlson Prudence E (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-08-18	Common Shares	S	4452	$38.50	Disposed	311005	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	1634679	Indirect

Footnotes

F1: Reporting person is one of four trustees of a voting trust which is record owner of these Common Shares and which files its holdings on a form 4. The shares reported are held by respective reporting person and her family members that have a pecuniary interest in such securities. Includes
693,677 Common Shares held by a family partnership of which reporting person is a general partner.