Welcome to our dedicated page for Telephone & Data Sys SEC filings (Ticker: TDS), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The SEC filings page for Telephone and Data Systems, Inc. (NYSE: TDS) provides access to the company’s regulatory disclosures as a U.S. public issuer. TDS files current reports on Form 8-K and other documents that describe material events affecting its telecommunications and wireless infrastructure businesses, including TDS Telecom and Array Digital Infrastructure, Inc.
In recent Forms 8-K, TDS has reported results of operations for specific quarters, amendments to credit agreements, the termination of certain bank and securitization facilities, and the completion of significant transactions. Filings describe, for example, the sale of Array’s wireless operations and select spectrum assets to T-Mobile, the entry into a long-term master license agreement for tower space, and subsequent spectrum sales to AT&T. Other filings outline credit agreement amendments that extend maturities, adjust leverage calculations and modify debt capacity.
Investors reviewing TDS filings can also see disclosures related to dividends and special dividends, share repurchase authorizations, and changes in financing arrangements. Array-related filings incorporated by reference provide additional detail on tower assets, spectrum transactions and note exchange offers. Together, these documents help explain how TDS structures its capital, manages liquidity and reports the financial impact of major corporate actions.
On Stock Titan, SEC filings are paired with AI-powered summaries that highlight key points from lengthy documents, helping users quickly understand items such as asset sales, credit facility changes, special dividends and quarterly results. Real-time updates from EDGAR, along with easy access to current reports and other filings, allow users to monitor how TDS discloses developments in its broadband, video, voice and wireless infrastructure businesses.
Telephone and Data Systems (TDS) reported that executive Anthony J. Carlson acquired 1,033 Performance Share Units as part of an equity award. These units were originally granted on May 21, 2025 and are tied to three financial performance metrics.
Based on company performance as of December 31, 2025, the Compensation Human Resources Committee certified the metrics at 75.1%, which adjusted the award level. The certified performance share units are now time-based and will vest on December 31, 2027, and each unit represents the right to receive one common share plus accumulated quarterly dividend equivalents.
Telephone and Data Systems director and subsidiary president Kenneth S. Dixon reported an acquisition of 10,389 Performance Share Units tied to company stock. Each unit represents the right to receive one common share and has been accumulating quarterly dividend equivalents.
These units were originally granted on June 9, 2025, under a financial-based performance plan with a payout range from 0% to 150% of target. Based on company performance as of December 31, 2025, the Compensation Human Resources Committee certified achievement of the three key metrics at 75.1% on February 25, 2026, converting the award into time-based units that will vest on December 31, 2027.
Telephone & Data Systems (TDS) reported that executive Anita J. Kroll, VP, Controller & CAO, acquired performance share units on February 25, 2026. The Form 4 shows three performance-based awards of 1,375, 2,129, and 6,458 units, each representing the contingent right to receive one common share.
These units relate to grants originally made in 2023, 2024, and 2025, where payouts depend on three financial metrics. Certified performance levels range from 71.5% to 200%, and payouts can be adjusted between ranges such as 24%–168%, 0%–192%, and 0%–160% of target. Portions of these awards are now time-based and are scheduled to vest between May 17, 2026 and December 31, 2027, while remaining metrics continue to be measured through December 31, 2026 and December 31, 2027. The units accumulate quarterly dividend equivalents, which may be forfeited if minimum performance is not achieved.
Telephone and Data Systems senior executive Joseph R. Hanley reported acquisitions of performance share units that were certified based on multi-year financial performance metrics. Awards tied to grants from 2023, 2024, and 2025 were adjusted for performance and converted to time-based units that will vest between 2026 and 2027. Each unit represents the contingent right to receive one common share and has been accumulating quarterly dividend equivalents.
Telephone & Data Systems (TDS)February 25, 2026. The Form 4 shows three acquisitions of performance share units in derivative form: 7,727, 11,957, and 26,222 units, each at a price of $0.00 per unit.
The footnotes explain these units come from prior financial-based grants tied to three key performance metrics. Company performance through December 31, 2025 led the Compensation Human Resources Committee to certify certain metrics at levels such as 71.5%, 83.8%, 145.9% and 200%, converting the related performance share units into time-based awards scheduled to vest on dates including May 17, 2026, June 11, 2027, and December 31, 2027. The awards also accumulate quarterly dividend equivalents, and each performance share unit represents a contingent right to receive one TDS common share.
Telephone & Data Systems vice chair Leroy T. Carlson Jr. reported multiple awards of performance share units in the form of grants or other acquisitions. Each performance share unit represents a contingent right to receive one common share, with actual payouts tied to multi-year financial performance metrics.
Footnotes explain that awards granted in 2023, 2024, and 2025 can pay out above or below target, with ranges up to 160%, 168%, or 192% of target depending on results. Several metrics have been certified at levels such as 71.5%, 83.8%, 145.9%, and 200%, converting those portions to time-based units that vest between May 17, 2026 and December 31, 2027, while remaining metrics continue to be measured through dates in 2026 and 2027.
Telephone & Data Systems Inc. director and President/CEO Walter C.D. Carlson reported an equity award of performance share units. On February 25, 2026, he acquired 25,191 performance share units at a stated price of $0.00 per unit, bringing his total to 37,927 units.
These units were originally granted on May 21, 2025 and are tied to three financial performance metrics. Based on company results at December 31, 2025, two metrics were certified at 71.5%, converting the related units into time-based awards that vest on December 31, 2027. The remaining metric continues to be measured through December 31, 2027, and any dividend equivalents for that portion can be forfeited if minimum performance is not met. Each performance share unit represents a contingent right to receive one common share.
Telephone and Data Systems (TDS) is a U.S. communications company operating through TDS Telecom and its 82%-owned tower and spectrum subsidiary Array Digital Infrastructure. TDS Telecom serves 1.1 million connections across 30 states, focusing on fiber builds that deliver up to 8 Gbps broadband and bundled video, voice and MVNO wireless services.
Array now centers on leasing space on 4,450 towers in 19 states after selling its wireless operations and select spectrum assets to T-Mobile on August 1, 2025 for total consideration of $4,293.8 million, including $2,628.8 million in cash and $1,665.0 million of debt assumed. Array has additional signed spectrum sale agreements with Verizon and AT&T and has paid special dividends of $23.00 and $10.25 per share tied to these monetizations. The filing highlights heavy fiber investment at TDS Telecom, Array’s long-term Master License Agreement with T-Mobile, and extensive risk factors around spectrum monetization, tower tenancy, competition, regulatory support programs, cybersecurity and liquidity.
Telephone and Data Systems, Inc. reported a sharp improvement in profitability for 2025 while reshaping its business mix. For Q4 2025, operating revenues from continuing operations were $330.7 million, up from $295.3 million, with net income attributable to common shareholders from continuing operations of $37.2 million and diluted EPS of $0.32, versus $0.01 a year earlier.
For full-year 2025, operating revenues from continuing operations were $1,228.2 million compared with $1,297.0 million in 2024, but net income attributable to common shareholders from continuing operations improved to $48.2 million and diluted EPS to $0.39 from a loss of $(141.4) million and $(1.24). The company sold its wireless business, created Array as a standalone tower and spectrum platform, repurchased 1.77 million common shares for $67.4 million, and Array sold spectrum to AT&T for $1.018 billion and paid a $10.25 per share special dividend.
The Vanguard Group reports beneficial ownership of 11,375,121 shares of Telephone and Data Systems common stock, representing 10.53% of the class as of December 31, 2025. Vanguard has shared voting power over 783,720 shares and shared dispositive power over all 11,375,121 shares, with no sole voting or dispositive power.
The shares are held for clients, who have rights to dividends and sale proceeds, and no single client holds more than 5% of the class. Vanguard states the position is held in the ordinary course of business and not to change or influence control of Telephone and Data Systems. An internal realignment effective January 12, 2026 means certain Vanguard subsidiaries will report beneficial ownership separately going forward.