[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 73,878 common shares through Morgan Stanley Smith Barney LLC on the NYSE, with an aggregate market value of $2,872,477.41 and approximately 108,000,000 shares outstanding. The filing itemizes the acquisition history for the lots to be sold, showing multiple restricted stock vestings between 2019 and 2024 and an option exercise for 54,940 shares to be paid in cash on the listed sale date. The filer certifies no undisclosed material adverse information and reports no sales in the past three months. This is a routine insider sale notice under Rule 144 specifying broker, lots, consideration, and planned sale timing.

Insights

Securities Analyst

TL;DR: Routine Rule 144 disclosure of an insider sale with limited apparent market impact given the disclosed size and origin of the shares.

The Form 144 lists a proposed sale of 73,878 common shares via a named broker on the NYSE with an aggregate market value of $2,872,477.41 and notes no sales in the prior three months. The lots originate largely from restricted stock vestings and an option exercise, indicating standard compensation-related disposals rather than an unsolicited divestment. Disclosure appears complete for a Rule 144 notice; materiality to the company’s capitalization is limited based on the absolute size of the position disclosed.

Corporate Governance Expert

TL;DR: Filing demonstrates compliance with Rule 144 disclosure requirements and shows orderly sale mechanics via a broker.

The notice names the executing broker, specifies the number of shares, aggregate market value, and approximate sale date, and provides the acquisition history for each lot, including vesting and an option exercise. The signer affirms no undisclosed material adverse information and reports no recent sales. From a governance perspective, this is a routine, transparent insider transaction disclosure without indications of regulatory or governance concerns in the text provided.

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	73878	2872477.41	108000000	08/13/2025	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	05/21/2023	Restricted stock vesting under a registered plan	Issuer			4548	05/21/2023	Services Rendered
Common	05/11/2019	Restricted stock vesting under a registered plan	Issuer			1868	05/11/2019	Services Rendered
Common	05/22/2022	Restricted stock vesting under a registered plan	Issuer			2278	05/22/2022	Services Rendered
Common	02/19/2024	Restricted stock vesting under a registered plan	Issuer			2805	02/19/2024	Services Rendered
Common	08/13/2025	Exercise of options under a registered plan	Issuer			54940	08/13/2025	Cash
Common	02/10/2022	Restricted stock vesting under a registered plan	Issuer			1959	02/10/2022	Services Rendered
Common	05/24/2020	Restricted stock vesting under a registered plan	Issuer			2476	05/24/2020	Services Rendered
Common	05/23/2021	Restricted stock vesting under a registered plan	Issuer			3004	05/23/2021	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

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 does the TDS Form 144 disclose?

The filing discloses a proposed sale of 73,878 common shares of TDS with an aggregate market value of $2,872,477.41.

Who is the broker handling the TDS sale?

The broker named is Morgan Stanley Smith Barney LLC (execution on the NYSE is indicated).

When is the approximate date of the proposed sale listed in the Form 144?

The Form 144 lists an approximate sale date of 08/13/2025 for the proposed transaction.

Were any TDS shares sold by the filer in the past three months?

The filing states Nothing to Report for securities sold during the past three months.

How were the shares being sold originally acquired?

The lots were mostly acquired via restricted stock vestings between 2019 and 2024 and one option exercise scheduled for 08/13/2025 (54,940 shares, cash payment).

What does the filer certify in the Remarks section?

The filer represents they do not know any material adverse information about the issuer that has not been publicly disclosed.