[144] Telephone and Data Systems Inc. SEC Filing

Rhea-AI Filing Summary

Telephone and Data Systems Inc. (TDS) Form 144: An insider notified an intended sale of 25,962 shares of common stock to be executed through Morgan Stanley Smith Barney LLC on the NYSE with an aggregate market value of $1,016,061.81, with an approximate sale date of 08/20/2025. The securities were reported acquired on 08/20/2025 by exercise of options under a registered plan and paid in cash. The filing also discloses a prior sale by the same account: 15,000 shares sold on 08/19/2025 for gross proceeds of $585,730.50. The filer certifies no undisclosed material adverse information.

Positive

• Use of registered broker: Sale to be executed through Morgan Stanley Smith Barney LLC, providing brokered market access.
• Acquisition documented: Shares were acquired by exercise of options under a registered plan and payment was made in cash, which clarifies transferability.

Negative

• Insider disposition: Notice of planned sale of 25,962 shares and a prior sale of 15,000 shares on 08/19/2025 for $585,730.50, indicating recent insider selling activity.

Insights

Securities Analyst

TL;DR: Insider exercised options then notified sale of 25,962 TDS shares; a separate 15,000-share sale occurred the prior day.

The filing documents a routine Rule 144 notice where shares acquired by option exercise on 08/20/2025 are slated for sale through Morgan Stanley Smith Barney LLC on the NYSE. The notice reports the acquisition and payment in cash, indicating the shares were freely transferable under the registrant plan. The prior-day sale of 15,000 shares for $585,730.50 is disclosed, providing transparency on recent dispositions. This is a compliance-focused disclosure rather than a corporate operational update.

Corporate Governance Expert

TL;DR: Filing is a compliance disclosure under Rule 144 confirming option exercise and planned resale; no new material issuer information is presented.

The notice includes the required representation that the seller is unaware of undisclosed material adverse facts about the issuer. The use of a registered broker and explicit acquisition/payment dates aligns with standard insider reporting practices. No governance changes, litigation, or financial results are included in this filing.

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	25962	1016061.81	108000000	08/20/2025	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	08/20/2025	Exercise of options under a registered plan	Issuer			25962	08/20/2025	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

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
JAMES W BUTMAN 30 North LaSalle Street, Suite 4000 Chicago IL 60602	Common	08/19/2025	15000	585730.50

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 filing disclose?

The filing discloses a planned sale of 25,962 TDS common shares via Morgan Stanley Smith Barney LLC on the NYSE with an aggregate market value of $1,016,061.81 and a prior sale of 15,000 shares on 08/19/2025 for $585,730.50.

How were the 25,962 shares acquired according to the filing?

The shares were acquired on 08/20/2025 by exercise of options under a registered plan and payment was made in cash on the same date.

Through which broker will the TDS shares be sold?

The filing states the sale will be handled by Morgan Stanley Smith Barney LLC, 1 New York Plaza, 8th Floor, New York, NY, on the NYSE.

Does the filing assert any undisclosed material information about TDS?

Yes, the signer represents by signing the notice that they do not know any material adverse information regarding the issuer that has not been publicly disclosed.

What dates are associated with the transactions in the Form 144?

Reported dates are 08/19/2025 (sale of 15,000 shares) and 08/20/2025 (acquisition by option exercise and planned sale of 25,962 shares).