Form 4: Deutsche Telekom affiliates report TMUS disposals on 09/26 and 09/29/2025

Rhea-AI Filing Summary

Deutsche Telekom and its wholly-owned affiliates reported multiple sales of T-Mobile US, Inc. (TMUS) common stock on 09/26/2025 and 09/29/2025. The filings show a series of dispositions executed pursuant to a 10b5-1 trading plan adopted on June 12, 2025. Reported sales on 09/26/2025 include disposals of 30,715; 19,189; 13,522; and 1,000 shares at weighted-average prices ranging from $236.74 to $240.145, resulting in stated post-transaction beneficial ownership balances around 634.24 million shares. Additional sales on 09/29/2025 total 64,415 shares (53,822; 10,179; 414) at weighted-average prices in the $237.46–$239.74 ranges, with final reported beneficial ownership near 634.177 million shares. The report includes customary disclaimers that each reporting person disclaims beneficial ownership except to the extent of any pecuniary interest and notes director-by-deputization relationships between Deutsche Telekom executives and the issuer’s board.

Positive

• Transactions were executed pursuant to a 10b5-1 trading plan, indicating preplanned compliance procedures.

Negative

• Large aggregate share dispositions (tens of thousands of shares across two dates) were reported, reducing reported beneficial holdings.

Insights

Financial Analyst

TL;DR: Large, preplanned sales by Deutsche Telekom entities reduced reported TMUS holdings modestly but were executed under a 10b5-1 plan.

The Form 4 discloses multiple non-derivative dispositions of TMUS common stock on two dates with weighted-average sale prices between approximately $236.74 and $240.15 per share. The trades were effected under a 10b5-1 plan adopted June 12, 2025, indicating preauthorization rather than ad hoc insider selling. Post-transaction reported beneficial ownership remains approximately 634.18–634.28 million shares across the reporting group. For analysts, the key takeaways are the use of an established trading plan and that the reported sales represent routine disposals rather than option exercises or derivative activity.

Corporate Governance Expert

TL;DR: Form 4 details director-affiliated and subsidiary sales under a 10b5-1 plan with standard ownership disclaimers.

The filing identifies Deutsche Telekom AG and several wholly-owned subsidiaries as reporting persons and discloses director-by-deputization relationships between DT executives and the issuer’s board. The explanatory remarks include standard disclaimers of beneficial ownership and commit to provide transaction price breakdowns on request. From a governance perspective, the presence of a documented 10b5-1 plan and explicit disclaimers align with compliance practices for insiders and large shareholders reporting Section 16 activity.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

DEUTSCHE TELEKOM AG

(Last) (First) (Middle)

FRIEDRICH-EBERT-ALLEE 140

(Street)

BONN 2M 53113

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
T-Mobile US, Inc. [ TMUS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/26/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/26/2025		S(1)		30,715	D	$237.4185(2)	634,275,203	D
Common Stock	09/26/2025		S(1)		19,189	D	$238.3023(3)	634,256,014	D
Common Stock	09/26/2025		S(1)		13,522	D	$239.3101(4)	634,242,492	D
Common Stock	09/26/2025		S(1)		1,000	D	$240.0358(5)	634,241,492	D
Common Stock	09/29/2025		S(1)		53,822	D	$237.9867(6)	634,187,659	D
Common Stock	09/29/2025		S(1)		10,179	D	$238.7194(7)	634,177,480	D
Common Stock	09/29/2025		S(1)		414	D	$239.5902(8)	634,177,066	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

DEUTSCHE TELEKOM AG

(Last) (First) (Middle)

FRIEDRICH-EBERT-ALLEE 140

(Street)

BONN 2M 53113

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

T-Mobile Global Holding GmbH

(Last) (First) (Middle)

LANDGRABENWEG 151

(Street)

BONN 2M 53227

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

T-Mobile Global Zwischenholding GmbH

(Last) (First) (Middle)

FRIEDRICH-EBERT-ALLEE 140

(Street)

BONN 2M 53113

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Deutsche Telekom Holding B.V.

(Last) (First) (Middle)

STATIONSPLEIN 8K

(Street)

MAASTRICHT P7 6221 BT

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. The transactions reported on this Form 4 were effected pursuant to a 10b5-1 trading plan adopted on June 12, 2025.

2. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $236.74 to $237.715 per share. The holder undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon written request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

3. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $237.765 to $238.72 per share. The holder undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon written request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

4. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $238.84 to $239.81 per share. The holder undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon written request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

5. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $239.84 to $240.145 per share. The holder undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon written request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

6. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $237.46 to $238.45 per share. The holder undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon written request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

7. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $238.46 to $239.38 per share. The holder undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon written request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

8. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $239.47 to $239.74 per share. The holder undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon written request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Remarks:

Solely for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder ("Section 16"), each Reporting Person may be deemed to be a director-by-deputization by virtue of the fact that each of Timotheus Hoettges, Chief Executive Officer of DT, Dr. Christian P. Illek, Board Member for Finance of DT, Raphael Kubler, Senior Vice President of the Corporate Operating Office of DT and Managing Director of Deutsche Telekom Holding B.V., Thorsten Langheim, Board Member for USA and Group Development of DT, and Dominique Leroy, Board Member for Europe of DT, serve on the board of directors of the Issuer. In addition, Each of T-Mobile Global Zwischenholding GmbH, T-Mobile Global Holding GmbH and Deutsche Telekom Holding B.V. are wholly-owned subsidiaries of DT. Each Reporting Person disclaims beneficial ownership in the securities reported on this Form 4 except to the extent of its pecuniary interest, if any, therein, and this report shall not be deemed to be an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose. Deutsche Telekom disclaims beneficial ownership in any Common Stock held by Project 6 or Project 9 if such Common Stock is not subject to the Proxy Agreement.

	/s/ Christoph Appel Attorney-in-fact	09/30/2025
	/s/ Christoph Appel Attorney-in-fact	09/30/2025
	/s/ Christoph Appel Attorney-in-fact	09/30/2025
	/s/ Christoph Appel Attorney-in-fact	09/30/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider sold TMUS shares according to the Form 4 filing?

Deutsche Telekom AG and affiliated entities (T-Mobile Global Holding GmbH, T-Mobile Global Zwischenholding GmbH, Deutsche Telekom Holding B.V.) are the reporting persons.

When were the TMUS shares sold and under what plan?

Sales occurred on 09/26/2025 and 09/29/2025 and were effected pursuant to a 10b5-1 trading plan adopted on June 12, 2025.

How many TMUS shares were disposed of in these transactions?

The Form 4 lists multiple disposals totaling tens of thousands of shares per reporting line (examples: 30,715; 19,189; 13,522; 53,822; 10,179; 414), shown individually in the filing.

What prices were these TMUS shares sold at?

Reported prices are weighted-average prices for multiple trades, with ranges disclosed: approximately $236.74–$240.145 per share across the reported transactions.

What was the reported beneficial ownership after the transactions?

Post-transaction reported beneficial ownership balances shown in the filing are approximately 634.24 million to 634.18 million shares for the reporting group.