[144] Telephone and Data Systems Inc. SEC Filing

Rhea-AI Filing Summary

Telephone and Data Systems Inc. (TDS) filed a Form 144 disclosing a proposed sale of 111,820 common shares with an aggregate market value of $4,266,056, to be executed approximately on 08/12/2025 through Morgan Stanley Smith Barney LLC on the NYSE. The shares were acquired the same day by exercise of options under a registered plan in three tranches (53,800, 18,320, 39,700) and paid for in cash. These 111,820 shares represent about 0.103% of the 108,000,000 shares outstanding. The filer reports no securities sold in the past three months and affirms they are not aware of any undisclosed material adverse information.

Positive

• Regulatory compliance: Form 144 was submitted disclosing the proposed sale as required under Rule 144.
• Clear origin of shares: Shares were acquired by exercise of options and paid in cash on 08/12/2025 (53,800; 18,320; 39,700).

Negative

• Proposed sale adds supply: 111,820 shares valued at $4,266,056 will be offered, increasing available float by approximately 0.103% of the stated outstanding shares.

Insights

Securities Analyst

TL;DR: Routine insider option exercise and planned sale of 111,820 shares; modest supply impact given share count.

The filing shows a common pattern where options are exercised and the resulting shares are registered for sale via Form 144. The broker listed is Morgan Stanley Smith Barney LLC and the trade is to occur on the NYSE. The sale size (111,820 shares, $4,266,056) equals roughly 0.103% of the stated 108,000,000 outstanding shares, indicating limited absolute dilution or float impact at the company level. No sales were reported in the prior three months, and the filer makes the standard representation about public disclosure of material information.

Corporate Governance Expert

TL;DR: Disclosure is compliant and transparent; exercise-and-sell behavior is common for option monetization.

The Form 144 documents provenance of the shares (exercised options under a registered plan) and payment in cash, which supports transparency around insider transactions. The signature representation about lack of undisclosed material adverse information is included, and no prior three-month sales are reported. This filing meets Rule 144 notice expectations and signals routine executive liquidity rather than company-specific operational changes.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	111820	4266056.00	108000000	08/12/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	08/12/2025	Exercise of options under a registered plan	Issuer			53800	08/12/2025	Cash
Common	08/12/2025	Exercise of options under a registered plan	Issuer			18320	08/12/2025	Cash
Common	08/12/2025	Exercise of options under a registered plan	Issuer			39700	08/12/2025	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What did TDS file in this Form 144?

TDS filed a Form 144 disclosing a proposed sale of 111,820 common shares with aggregate market value $4,266,056 to be sold on 08/12/2025.

Who is the broker handling the proposed sale for TDS (symbol TDS)?

The broker listed is Morgan Stanley Smith Barney LLC, 1 New York Plaza, 8th Floor, New York, NY and sale is to occur on the NYSE.

How were the shares to be sold acquired?

The shares were acquired on 08/12/2025 by exercise of options under a registered plan in three amounts: 53,800, 18,320, and 39,700, paid in cash.

Did the filer report any securities sold in the past three months?

No. The Form 144 states "Nothing to Report" for securities sold during the past three months.

How large is the proposed sale relative to TDS outstanding shares?

The proposed 111,820 shares compare to 108,000,000 shares outstanding, about 0.103% of outstanding shares.