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

Mar 3, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TELEPHONE & DATA SYSTEMS INC /DE/ (TDS)
CIK: 0001051512
Period of Report: 2025-02-28

Reporting Person: Hanley Joseph R (SVP-Strategy & Corp Dev)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-02-28	Common Shares	M	26902	$29.26	Acquired	98291	Direct
2025-02-28	Common Shares	F	23299	$36.10	Disposed	74992	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-02-28	Option (Right to Buy)	$29.26	M	26902	Disposed	2025-05-11	Common Shares (26902)	Direct

Footnotes

F1: Shares withheld to pay for strike price (21,805) and taxes (1,494)

F2: Granted on May 11, 2015, under the 2011 Long Term Incentive Plan. Stock options vested on the third annual anniversary of the grant date.