[144] Telephone and Data Systems Inc. SEC Filing

Rhea-AI Filing Summary

Telephone and Data Systems, Inc. (TDS) Form 144 shows an insider notice to sell 58,452 common shares through Morgan Stanley Smith Barney on the NYSE with an aggregate market value of $2,253,746.30. The filing lists multiple prior acquisitions of the shares, primarily from restricted stock vesting under registered plans between 2023 and 2025 and one option exercise on 08/15/2025. The filer disclosed multiple earlier sales by the same person in the past three months totaling 73,878 shares and approximately $2.87 million in gross proceeds, indicating recent active disposition of holdings. The filing includes the standard insider representation regarding lack of undisclosed material information.

Positive

• Filer complied with Rule 144 disclosure requirements, providing broker, acquisition history, and recent sale details
• Majority of acquired shares derived from restricted stock vesting, indicating compensation-origin rather than market purchases

Negative

• Insider sold 73,878 shares in the past three months for approximately $2.87M in gross proceeds, showing notable insider liquidity activity
• Planned sale of 58,452 shares will increase insider share turnover despite representing a small percentage of outstanding shares

Insights

Securities Analyst

TL;DR: Insider selling disclosed; single planned sale modest relative to outstanding shares but follows recent large disposals.

The filing notifies a sale of 58,452 shares valued at $2.25M via a broker on the NYSE. Acquisition history shows most shares were received through restricted stock vesting and one option exercise, indicating routine compensation-related holdings being liquidated. Recent sales in the prior three months totaled 73,878 shares for roughly $2.87M, which may reflect scheduled liquidity rather than event-driven insider exits. As a percentage of the company's reported outstanding shares (108,000,000), the planned sale is approximately 0.054%, a small dilutive or market-impact footprint.

Corporate Governance Expert

TL;DR: Disclosure follows Rule 144 mechanics; repeated recent sales merit attention on insider liquidity timing.

The notice is procedurally complete: it identifies broker, share class, outstanding share count, acquisition dates and consideration, and recent disposals by the same person. Multiple vesting entries indicate compensation-related origin of shares. Frequent sales within a short window could prompt investor questions about the insider's liquidity strategy but the disclosed amounts represent a small fraction of total outstanding stock. No assertion of undisclosed material information is made in the signature representation.

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

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	58452	2253746.30	108000000	08/15/2025	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	02/21/2025	Restricted stock vesting under a registered plan	Issuer			16481	02/21/2025	Services Rendered
Common	02/19/2024	Restricted stock vesting under a registered plan	Issuer			391	02/19/2024	Services Rendered
Common	08/15/2025	Exercise of options under a registered plan	Issuer			4205	08/15/2025	Cash
Common	05/17/2024	Restricted stock vesting under a registered plan	Issuer			19901	05/17/2024	Services Rendered
Common	02/20/2023	Restricted stock vesting under a registered plan	Issuer			3559	02/20/2023	Services Rendered
Common	05/06/2025	Restricted stock vesting under a registered plan	Issuer			847	05/06/2025	Services Rendered
Common	05/17/2025	Restricted stock vesting under a registered plan	Issuer			10174	05/17/2025	Services Rendered
Common	05/19/2024	Restricted stock vesting under a registered plan	Issuer			2894	05/19/2024	Services Rendered

* 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

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
VICKI VILLACREZ 30 North LaSalle Street, Suite 4000 Chicago IL 60602	Common	08/13/2025	1868	72633.44
VICKI VILLACREZ 30 North LaSalle Street, Suite 4000 Chicago IL 60602	Common	08/13/2025	2476	96274.31
VICKI VILLACREZ 30 North LaSalle Street, Suite 4000 Chicago IL 60602	Common	08/13/2025	3004	116804.53
VICKI VILLACREZ 30 North LaSalle Street, Suite 4000 Chicago IL 60602	Common	08/13/2025	1959	76171.80
VICKI VILLACREZ 30 North LaSalle Street, Suite 4000 Chicago IL 60602	Common	08/13/2025	2278	88575.47
VICKI VILLACREZ 30 North LaSalle Street, Suite 4000 Chicago IL 60602	Common	08/13/2025	4548	176839.88
VICKI VILLACREZ 30 North LaSalle Street, Suite 4000 Chicago IL 60602	Common	08/13/2025	2805	109066.82
VICKI VILLACREZ 30 North LaSalle Street, Suite 4000 Chicago IL 60602	Common	08/13/2025	54940	2136111.15

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

How many TDS shares is the insider planning to sell under Form 144?

The filing discloses a proposed sale of 58,452 common shares.

What is the aggregate market value of the shares to be sold for TDS?

The aggregate market value is reported as $2,253,746.30.

On which exchange and through which broker will the TDS shares be sold?

The shares are to be sold on the NYSE through Morgan Stanley Smith Barney LLC.

What is the insider's recent selling activity for TDS in the past three months?

The filing lists prior sales totaling 73,878 shares on 08/13/2025 with combined gross proceeds of about $2.87 million.

How were the securities acquired that are being sold?

Most shares were acquired via restricted stock vesting under registered plans (2023–2025) and one entry shows an option exercise dated 08/15/2025.