Millicom director reports share grant and tax withholding

MILLICOM INTERNATIONAL CELLULAR SA director Maria Teresa Arnal reported a compensation-related share grant combined with tax withholding.

Rhea-AI Filing Summary

MILLICOM INTERNATIONAL CELLULAR SA director Maria Teresa Arnal reported a compensation-related share grant combined with tax withholding. She received 1,420 Common Shares as a grant or award, while 284 Common Shares were withheld by the issuer solely to cover tax obligations on the transfer.

Following these transactions, she directly holds 14,163 Common Shares. Because the 284-share disposition was tax withholding rather than an open-market sale, the activity mainly reflects routine equity compensation rather than a discretionary trade in the company’s stock.

Insider Trade Summary

Net Seller: 284 shares

Net Sell 2 txns

Insider Arnal Maria Teresa

Role Director

Sold 284 shs ($21K)

Type	Security	Shares	Price	Value
Grant/Award	Common Shares	1,420	$0.00	$0.00
Sale	Common Shares	284	$73.92	$21K

Holdings After Transaction: Common Shares — 14,163 shares (Direct)

Footnotes (1)

1. F1. The issuer withheld 284 common shares solely to satisfy tax obligations incurred upon transfer. The price reported was the price the issuer used to calculate the value of the shares withheld.

Key Figures

Shares sold/withheld: 284 shares at $73.92 Shares granted: 1,420 shares at $0.00 Post-transaction holdings: 14,447 shares

3 metrics

Shares sold/withheld 284 shares at $73.92 Shares withheld solely to satisfy tax obligations

Shares granted 1,420 shares at $0.00 Equity grant or award of Common Shares

Post-transaction holdings 14,447 shares Common Shares held directly after transactions

Key Terms

Common Shares, grant/award acquisition, tax obligations, open-market sale

4 terms

Common Shares financial

"security_title": "Common Shares""

Common shares are the basic units of ownership in a company that give holders a claim on profits and a right to vote on key matters, like electing the board. Think of them as membership cards in a club: they let you share in successes and losses, but in a bankruptcy or liquidation they are paid after creditors and preferred shareholders, so their value can swing more and matters for assessing risk and potential return.

grant/award acquisition financial

"transaction_action": "grant/award acquisition""

tax obligations financial

"withheld 284 common shares solely to satisfy tax obligations incurred"

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did MILLICOM (TIGO) director Maria Teresa Arnal report in this Form 4?

She reported a grant of 1,420 Common Shares and the withholding of 284 shares to cover tax obligations. These are compensation-related entries rather than discretionary market trades, and they increased her direct holdings to 14,447 Common Shares.

Were Maria Teresa Arnal’s MILLICOM (TIGO) transactions open-market buys or sells?

The filing codes include a sale, but the footnote explains the 284 shares were withheld by the issuer solely to satisfy tax obligations. The key economic event is a share grant, not an open-market purchase or sale decision by the director.

How many MILLICOM (TIGO) shares did Maria Teresa Arnal receive as a grant?

She received 1,420 Common Shares as a grant or award at a reported price of $0.00 per share. This indicates a compensation-related equity award rather than a market transaction executed at the prevailing share price.

What was the purpose of the 284 MILLICOM (TIGO) shares coded as a sale?

According to the footnote, the issuer withheld 284 Common Shares solely to satisfy tax obligations arising from the transfer. The price reported is the value the issuer used to calculate the tax-related withholding, not proceeds from an investor-directed sale.

What are Maria Teresa Arnal’s MILLICOM (TIGO) holdings after these transactions?

After the grant and tax withholding, she directly holds 14,447 Common Shares. This figure reflects her updated ownership position, showing that the net effect of the transactions was an increase in her equity stake despite the tax-related share withholding.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 07/06/2026 - 08:15 AM Learn about SEC filing dates

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).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Arnal Maria Teresa

(Last) (First) (Middle)

C/O MILLICOM INTERNATIONAL CELLULAR S.A.

8400 NW 36TH STREET, SUITE 530

(Street)

DORAL FLORIDA 33166

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
MILLICOM INTERNATIONAL CELLULAR SA [ TIGO ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/20/2026

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

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

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

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 Shares	05/20/2026		A		1,420	A	$0	14,447	D
Common Shares	05/20/2026		S(1)		284	D	$73.92	14,163	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

Explanation of Responses:

1. The issuer withheld 284 common shares solely to satisfy tax obligations incurred upon transfer. The price reported was the price the issuer used to calculate the value of the shares withheld.

	/s/ Maria Teresa Arnal	07/06/2026
	** 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.
* Form 4: SEC 1474 (03-26)