TELEPHONE & DATA SYSTEMS INC (TDS) director and vice chair Leroy T. Carlson Jr. reported a bona fide gift transfer of 227,190 Common Shares on September 16, 2026, at a reported price of $0.00 per share, leaving 253,170 Common Shares held directly afterward.
He also reports indirect holdings through family members, multiple trusts, and a Voting Trust, including 1,813,360 Common Shares held by a Voting Trust in which he is a member. The filing states no Rule 10b5-1 trading plan.
Telephone & Data Systems Inc. (TDS) reported that Vice Chair and director Leroy T. Carlson Jr. exercised stock options for 77,100 Common Shares on September 11, 2026 at an exercise price of $19.15 per share granted under the Long-Term Incentive Plan, and the options were fully vested.
On the same date, he acquired 77,100 Common Shares through this exercise and then sold 77,100 Common Shares in multiple transactions at a weighted-average price of $37.454149 per share, with sale prices ranging from $37.37 to $37.70; no Rule 10b5-1 trading plan is reported. After these transactions, he continues to hold significant indirect Common Share positions through his wife, several family trusts, and a Voting Trust, including 1,813,360 Common Shares reported as held by a Voting Trust in which he and family members have a pecuniary interest.
TELEPHONE & DATA SYSTEMS INC (TDS) received a notice that Leroy T. Carlson Jr. plans to sell 77,100 shares of common stock under Rule 144 through Morgan Stanley Smith Barney. The shares relate to a stock option exercise and have an indicated aggregate market value of $2,888,482.11, with the proposed sale date of September 11, 2026 on the NYSE.
TELEPHONE & DATA SYSTEMS INC (TDS) officer Anthony J. Carlson, President of Array and trustee of the TDS voting trust, reported acquiring Common Shares on September 3, 2026 through bona fide gifts of 511 shares to his direct holdings and 511 shares held indirectly by his wife. After these transactions, he reports 33,125 Common Shares held directly, 511 Common Shares held indirectly by his wife, and 71,476 Common Shares held indirectly through a voting trust. A footnote also states he holds 33,769 Common Shares in a dividend reinvestment plan, and no Rule 10b5-1 trading plan is reported.
TELEPHONE & DATA SYSTEMS INC (TDS) director and Vice Chair Leroy T. Carlson Jr. reported a series of bona fide gifts and related family-entity transfers of Common Shares and Series A Common Shares dated September 3, 2026. These include a gift of 144,599 Common Shares from his direct holdings, a receipt of 140,000 Common Shares held indirectly through his wife, and movements of shares into new Grantor Retained Annuity Trusts and among voting trusts and family trusts. No open‑market purchases or sales are reported, and no transactions are stated to be under a Rule 10b5‑1 trading plan.
TELEPHONE & DATA SYSTEMS INC (symbol: TDS) is the issuer of record for a Form SCHEDULE 13D/A filing submitted to the SEC.
TELEPHONE & DATA SYSTEMS INC (TDS) announced that it has withdrawn its previously announced proposal to acquire the outstanding public Common Shares of Array Digital Infrastructure, Inc. that it does not already own. The proposal would have exchanged each such Array share for 0.86 TDS Common Shares.
TDS will continue to hold its approximately 82% ownership interest in Array and states it remains confident in Array’s business and in TDS Telecom’s long-term strategy. TDS and Array plan to increase efforts to monetize Array’s remaining wireless spectrum assets. With the proposal withdrawn, TDS expects to recommence repurchases of TDS Common Shares under its existing share repurchase programs. As of June 30, 2026, approximately $523.9 million remained available under these programs, including an additional $500 million authorization announced in November 2025.
Picton Mahoney Asset Management filed an amended Schedule 13G reporting a significant passive ownership position in Telephone and Data Systems, Inc.'s 6.625% Series UU preferred stock depository shares. Picton Mahoney reports beneficial ownership of 1,880,616 depository shares, representing 11.19% of the class.
The firm has sole voting and sole dispositive power over all 1,880,616 shares, with no shared voting or dispositive power. The percentage is based on 16,800,000 depository shares outstanding as of June 30, 2026. The filer certifies that it is an Investment Fund Manager regulated under a foreign regime comparable to that of a functionally equivalent U.S. institution.
Telephone and Data Systems, Inc. reported much higher profitability for the three months ended June 30, 2026. Total operating revenues from continuing operations were $309,281 thousand, up modestly year over year, but earnings were driven mainly by pre-tax gains of $402,280 thousand on wireless spectrum license sales and $23,770 thousand of short-term imputed spectrum lease income, lifting income before income taxes to $447,697 thousand. Net income attributable to TDS common shareholders was $281,060 thousand, versus a loss in the prior-year quarter, with diluted earnings per share of $2.42.
Underlying segment trends were mixed. TDS Telecom’s operating revenues fell 6% to $248,406 thousand, and it moved to an operating loss of $8,278 thousand, while Adjusted EBITDA declined 21%. Legacy voice, video and copper broadband connections continued to decline, partly offset by strong fiber growth: residential incumbent and expansion fiber broadband connections rose 11% and 27%, respectively, and 1Gig+ service is now offered to 80% of the footprint. Array Digital Infrastructure benefited from the T-Mobile master lease agreement and spectrum monetization, with site rental revenues nearly doubling to $53,175 thousand and Adjusted EBITDA increasing to $56,202 thousand; Array now owns 4,456 towers with a 0.98 tower tenancy rate.
Liquidity strengthened markedly. Cash and cash equivalents increased to $2,194,014 thousand, driven by $2,188,235 thousand of cash from divestitures, including spectrum license sales to AT&T and Verizon, while TDS’ free cash flow from continuing operations was negative $168,034 thousand due to capital expenditures of $317,919 thousand. Array paid two special dividends on its common and Series A shares of $10.25 and $11.00 per share tied to spectrum sales, totaling $1,836.8 million, of which TDS received $1,504.3 million. TDS also submitted a non-binding proposal to acquire the Array shares it does not own, which a special committee of Array’s board is evaluating.
Telephone and Data Systems, Inc. reported second quarter 2026 operating revenues from continuing operations of $309.3 million, up 4% from $298.5 million a year earlier. Net income attributable to common shareholders from continuing operations was $260.6 million, or diluted EPS of $2.24, compared with a $6.0 million loss and $(0.05) per share.
Performance was led by Array Digital Infrastructure, where site rental revenues grew 95% year over year and large gains on spectrum license sales drove operating income of $399.3 million. Array closed spectrum sales for $74.8 million, $86.4 million and $1.0 billion, funded an $11 per common share special dividend, and raised 2026 revenue and Adjusted EBITDA guidance.
At TDS Telecom, fiber expansion continued with roughly 66,000 new marketable fiber service addresses and 15,100 residential fiber net additions, but segment service revenues fell 6% year over year and 2026 revenue guidance was reduced to $1,000–$1,025 million while capital expenditure guidance increased to $625–$675 million. Consolidated free cash flow from continuing operations was negative $(168,034) thousand for the first half of 2026, and cash and cash equivalents were $2,194,014 thousand at June 30, 2026.