[144] Telephone and Data Systems Inc. SEC Filing

Rhea-AI Filing Summary

Telephone and Data Systems Inc. (TDS) filed a Form 144 proposing the sale of 26,000 common shares through RBC Capital Markets LLC on 08/12/2025 on the NYSE, with an aggregate market value of $990,178 against 108,000,000 shares outstanding. The filing identifies the shares as common stock and lists RBC Capital Markets as the broker.

The 26,000 shares equal the total of director compensation grants shown in the filing: 3,548 (05/22/2025), 6,320 (05/22/2024), 1,129 (05/17/2023), 8,258 (03/01/2023), 5,811 (03/01/2022) and 934 (03/01/2021), all acquired from the issuer. The filer reports Nothing to Report for securities sold in the past three months and represents they do not possess undisclosed material adverse information. The notice date and signature block are not shown in the provided content.

Insights

Financial Analyst

TL;DR Small director sale equal to previously issued compensation; immaterial to outstanding share count and unlikely to move market.

The filing shows a proposed sale of 26,000 common shares valued at $990,178. Against the reported 108,000,000 shares outstanding, this represents a de minimis portion of the float (approximately 0.024%). The shares being offered match the cumulative director compensation grants listed in the filing, indicating the sale appears to be disposition of previously issued compensation rather than a new dilution event. No securities were reported sold in the past three months. From a financial-impact perspective, this disclosure is routine and not material to the company’s valuation.

Corporate Governance Expert

TL;DR Transaction appears to be routine director compensation disposition; disclosure complies with Rule 144 requirements with limited governance implications.

The Form 144 lists acquisitions explicitly identified as director compensation, all acquired from the issuer, and the aggregate number offered for sale equals those listed grants. The broker is specified as RBC Capital Markets LLC and the trade is planned for 08/12/2025 on the NYSE. The filer affirms no material nonpublic information is known. The filing omits a visible notice date and signature in the provided content, which are administrative details normally present on a complete submission. Overall, this appears to be a standard compliance filing rather than a governance red flag.

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	RBC CAPITAL MARKETS LLC 250 NICOLLET MALL, SUITE 1700 MINNEAPOLIS MN 55401	26000	990178.00	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	05/22/2025	DIRECTOR COMPENSATION	ISSUER			3548	05/22/2025	N/A
COMMON	05/22/2024	DIRECTOR COMPENSATION	ISSUER			6320	05/22/2024	N/A
COMMON	05/17/2023	DIRECTOR COMPENSATION	ISSUER			1129	05/17/2023	N/A
COMMON	03/01/2023	DIRECTOR COMPENSATION	ISSUER			8258	03/01/2023	N/A
COMMON	03/01/2022	DIRECTOR COMPENSATION	ISSUER			5811	03/01/2022	N/A
COMMON	03/01/2021	DIRECTOR COMPENSATION	ISSUER			934	03/01/2021	N/A

* 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 shares does TDS propose to sell in this Form 144?

The filing proposes sale of 26,000 common shares on the NYSE through RBC Capital Markets LLC, with an aggregate market value of $990,178, approximate sale date 08/12/2025.

Where did the shares offered for sale come from?

The shares were acquired as director compensation from the issuer on listed dates: 05/22/2025 (3,548), 05/22/2024 (6,320), 05/17/2023 (1,129), 03/01/2023 (8,258), 03/01/2022 (5,811), and 03/01/2021 (934).

Has the filer reported any securities sold in the past three months?

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

Who is the broker handling the proposed sale?

The broker named in the filing is RBC Capital Markets LLC (250 Nicollet Mall, Suite 1700, Minneapolis, MN 55401).

How large is the proposed sale relative to shares outstanding?

The filing shows 26,000 shares being offered versus 108,000,000 shares outstanding, a very small fraction of the total share count.

Does the filer represent they have undisclosed material information?

By signing the notice the filer represents they do not know any material adverse information about the issuer that has not been publicly disclosed, as stated in the remarks section of the filing.

Are the notice date and signature present in the provided content?

The provided content includes a remarks and signature section, but the specific notice date and signature fields are not shown in the text supplied.