[144] Telephone and Data Systems Inc. SEC Filing

Rhea-AI Filing Summary

The filer proposes to sell 29,517 shares of Telephone and Data Systems common stock on the NYSE through Morgan Stanley Smith Barney, with an aggregate market value of $1,141,835.63. The filing reports 108,000,000 shares outstanding for the issuer and lists an approximate sale date of 08/12/2025.

All shares were acquired from the issuer: three lots were from exercise of options under a registered plan (11,601; 10,592; 6,634) paid in cash on 08/12/2025, and one lot was from restricted stock vesting (690) on 05/08/2025 issued for services. The form notes Nothing to Report for securities sold in the past three months and includes the filer’s representation that they do not know of any material nonpublic adverse information.

Positive

• Transparent regulatory disclosure via Form 144 reporting the proposed sale and acquisition details
• Filer represents no known material nonpublic adverse information, which is explicitly stated in the filing

Negative

• Insider proposes sale of 29,517 common shares, with an aggregate market value of $1,141,835.63
• Majority of shares originated from option exercises, indicating a liquidity event by the insider

Insights

Financial Analyst

TL;DR: Routine insider sale: 29,517 TDS shares proposed for sale via Form 144.

The Form 144 discloses a proposed sale of 29,517 common shares valued at $1,141,835.63 to be executed on the NYSE through Morgan Stanley Smith Barney. The underlying positions were recently acquired largely through option exercises on 08/12/2025, with a smaller tranche from restricted stock vesting on 05/08/2025. There are no reported sales by the filer in the prior three months, and the filer affirms no knowledge of undisclosed material adverse information. This report appears to be a routine compliant disclosure of an insider liquidity event.

Corporate Governance Expert

TL;DR: Compliance filing documents insider sale and attestation of no material nonpublic information.

The filing meets Rule 144 reporting requirements by identifying the broker, number of shares, aggregate market value, and acquisition details for each lot. Acquisition entries show exercises under a registered plan and restricted stock vesting, with payment methods disclosed as cash and services. The statement that there are no material undisclosed adverse facts is explicitly included. From a governance perspective, the document is a standard disclosure that provides transparency into insider selling activity.

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	29517	1141835.63	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			11601	08/12/2025	Cash
Common	05/08/2025	Restricted stock vesting under a registered plan	Issuer			690	05/08/2025	Services Rendered
Common	08/12/2025	Exercise of options under a registered plan	Issuer			10592	08/12/2025	Cash
Common	08/12/2025	Exercise of options under a registered plan	Issuer			6634	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

How many TDS shares does the filer propose to sell?

The filer proposes to sell 29,517 common shares.

What is the aggregate market value of the proposed sale in the Form 144?

The filing lists an aggregate market value of $1,141,835.63.

Through which broker and exchange will the TDS shares be sold?

The sale is to be executed through Morgan Stanley Smith Barney on the NYSE.

When is the approximate date of sale reported in the filing?

The approximate date of sale reported is 08/12/2025.

How were the shares acquired according to the Form 144?

Shares were acquired from the issuer by exercise of options under a registered plan (11,601; 10,592; 6,634) paid in cash and by restricted stock vesting (690) issued for services.

Has the filer sold any securities of the issuer in the past three months?

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

Does the filer assert knowledge of any undisclosed material adverse information?

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