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Array Digital Infrastructure, Inc., formerly United States Cellular Corporation, completed the previously announced sale of select wireless spectrum assets to AT&T for a cash purchase price of $1.018 billion. The transaction closed on January 13, 2026 under a License Purchase Agreement originally signed on November 6, 2024, and included $232 million of value allocated to certain 700 MHz Designated Entity Spectrum Licenses, with no portion of the purchase price deferred.
On the same day, Array’s Board of Directors declared a special cash dividend of $10.25 per share for holders of its Common Stock and Series A Common Stock. Stockholders of record as of January 23, 2026 will receive the dividend, which is scheduled to be paid in cash on February 2, 2026. The company also issued a press release announcing the closing of the sale and related matters.
Array Digital Infrastructure, Inc. reported an insider equity transaction by its President and CEO, who is also a director. On 01/02/2026, the reporting person received 5,022 Common Shares through a payout of deferred bonuses invested in phantom stock under the Array Long-Term Incentive Plan, recorded as transaction code M. On the same date, 1,355 Common Shares were withheld (code F) to cover taxes due in connection with this deferred compensation settlement.
After these transactions, the reporting person directly owned 8,274 Common Shares and held 4,489 derivative securities related to deferred compensation. The filing notes that the price on January 2, 2026 was used to determine the payout for the deferred bonus shares and that a total of 3,948 of these shares are vested.
Array Digital Infrastructure, Inc. entered into a Fifth Amendment to its First Amended and Restated Credit Agreement with Toronto Dominion (Texas) LLC and other lenders, effective December 8, 2025. The amendment reduces Array’s borrowing capacity from $300 million to $100 million, with letter of credit capacity cut from $30 million to $10 million and swing line capacity from $25 million to $10 million, meaning the company has a smaller committed credit facility available.
In return, the maturity date of the facility is extended to the fifth anniversary of the effective date, giving Array more time before the debt comes due. The amendment removes the prior credit spread adjustments that applied to the Term SOFR interest rate and revises how much cash can be netted when calculating the consolidated leverage ratio. It also increases the permitted capacity for additional secured and unsecured debt across Array, its parent Telephone and Data Systems, Inc., and their subsidiaries by an aggregate $300 million, providing more flexibility to incur future debt within the covenant structure.
Array Digital Infrastructure, Inc. (AD) disclosed the equity holdings of its President and CEO, who also serves as a director, in an initial ownership filing. The executive beneficially owns 4,607 Common Shares held directly, plus 9,511 Common Shares tied to deferred compensation under the company’s Long-Term Incentive Plan, of which 8,303 Common Shares are vested. In addition, the executive holds performance share units and restricted stock units covering 3,459 and 1,452 Common Shares granted on April 3, 2023, and 2,442 and 1,673 Common Shares granted on March 4, 2024. These awards are scheduled to vest between April 3, 2026 and March 4, 2027, with one-third of the 2024 restricted stock units already vested on March 4, 2025.
Array Digital Infrastructure, Inc. (AD) appointed Anthony Carlson as President and Chief Executive Officer, effective November 16, 2025, and elected him to the Board on the same date. He succeeds Douglas W. Chambers, who will serve as Senior Advisor until December 9, 2025.
Carlson previously held leadership roles at Array and TDS Telecommunications, with earlier experience at McKinsey & Company and Samsung Electronics. In connection with the appointment, Array entered into an offer letter outlining compensation: an annual base salary of $400,000, a 2025 target bonus equal to 60% of base salary (pro‑rated for time served in 2025), and eligibility for the long‑term incentive plan with a 2026 target multiple of 140% of base salary, with the 2026 LTIP award anticipated in March. Metrics and award terms are determined annually and may change year‑over‑year.
Array Digital Infrastructure (AD) reported its first full quarter post‑pivot to towers and spectrum monetization. For Q3 2025, total operating revenues rose to $47.1 million (up 83% year over year), driven by tower site rentals tied to a new Master License Agreement with T‑Mobile. Net income from continuing operations was $109.9 million, while a loss from discontinued operations led to a net loss attributable to shareholders of $38.5 million.
Adjusted EBITDA from continuing operations reached $85.1 million. Array owns 4,449 towers and, under the MLA, T‑Mobile committed to lease space on a minimum 2,015 towers for 15 years, plus about 1,800 interim sites up to 30 months. Cash and cash equivalents were $325.6 million as of September 30, 2025.
The company closed the sale of wireless operations and select spectrum to T‑Mobile for $4,293.8 million total consideration, including $2,628.8 million in cash and $1,665.0 million of debt assumed via exchange. It paid a $23.00 per‑share special dividend and entered a new $325.0 million term loan (SOFR + 2.50%). Pending spectrum sales to Verizon and AT&T remain subject to approvals.
Array Digital Infrastructure, Inc. furnished an update on its operations by issuing a news release covering results for the period ended September 30, 2025. The release is attached as Exhibit 99.1 and incorporated by reference. The information under Item 2.02 is being “furnished” and not deemed “filed” under the Exchange Act.
The company lists securities on the NYSE, including Common Shares (symbol USM) and senior notes (symbols UZD, UZE, UZF). The filing also reflects the former name United States Cellular Corporation.
Array Digital Infrastructure, Inc. reported the final results of shareholder voting from its October 9, 2025 annual meeting. Common shareholders elected three directors, with each nominee receiving over 44.6 million votes "For" and between about 2.9 million and 4.2 million votes "Withhold," plus 941,241 broker non-votes. The holder of the Series A Common Shares elected six additional directors, each receiving 330,058,770 votes "For".
Shareholders also approved three key proposals. The ratification of PricewaterhouseCoopers LLP as independent registered public accountants for the year ending December 31, 2025 received 379,366,472 votes "For," 439,478 "Against," and 2,820 "Abstain." Amendments to Array’s Restated Certificate of Incorporation to reflect changes in its business following a recently closed transaction with T-Mobile were approved with 378,826,430 votes "For," 36,033 "Against," 5,066 "Abstain," and 941,241 broker non-votes. An advisory "Say-on-Pay" vote approving named executive officer compensation passed with 375,670,144 votes "For," 3,186,631 "Against," 10,754 "Abstain," and 941,241 broker non-votes.