[144] Telephone and Data Systems Inc. SEC Filing

Rhea-AI Filing Summary

Telephone and Data Systems, Inc. (TDS) Form 144 reports a proposed sale of 8,608 common shares with an aggregate market value of $336,496.67, against 108,000,000 shares outstanding. The sale is scheduled approximately for 08/20/2025 through Morgan Stanley Smith Barney LLC on the NYSE. Acquisition details show portions of these shares came from restricted stock vesting on 05/17/2024 and 05/19/2024 (services rendered) and from option exercises with dates listed as 08/20/2025 (cash). The filing also lists multiple prior sales by Anita Kroll on 08/12/2025 and 08/13/2025, with individual share amounts and gross proceeds provided.

Positive

• Disclosure of acquisition sources (restricted stock vesting and option exercises) clarifies the origin of the securities.
• Use of a major broker (Morgan Stanley Smith Barney LLC) indicates execution through established channels.
• Detailed prior sale entries by Anita Kroll provide transparent trade-level reporting with gross proceeds.

Negative

• Insider sales in close succession (multiple sales on 08/12–08/13/2025) may reduce insider-held shares in the short term.
• Aggregated share ownership not provided for the selling person beyond individual transactions, limiting visibility into post-sale holdings.

Insights

Securities Analyst

TL;DR: A routine insider sale filing showing option exercises and restricted stock vesting, with planned market sales via Morgan Stanley on 08/20/2025.

The filing documents a proposed sale of 8,608 common shares worth $336,496.67, filed under Rule 144 and to be executed on the NYSE through Morgan Stanley Smith Barney. Acquisition rows indicate the shares arose from restricted stock vesting (May 2024) and option exercises (Aug 20, 2025), suggesting compensation-related origin. The disclosure of multiple recent sales by Anita Kroll on 08/12–08/13/2025 provides granular trade-by-trade proceeds but no aggregate holding balance beyond the outstanding share count. Overall, this appears procedurally compliant and informational rather than indicative of a material corporate development.

Corporate Governance Expert

TL;DR: Filing meets Rule 144 reporting requirements; shows insider liquidity events but no stated undisclosed adverse information.

The notice includes the seller representation that no material nonpublic information is known. The origins of the securities—restricted stock vesting and option exercises—are standard compensation mechanisms. The presence of numerous recent disposals by Anita Kroll is transparent and documented with dates and gross proceeds. There are no statements here about governance changes, regulatory actions, or other corporate governance events. The filing is a routine disclosure of insider sales under Rule 144.

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	8608	336496.67	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	05/17/2024	Restricted stock vesting under a registered plan	Issuer			2257	05/17/2024	Services Rendered
Common	08/20/2025	Exercise of options under a registered plan	Issuer			3771	08/20/2025	Cash
Common	08/20/2025	Exercise of options under a registered plan	Issuer			2432	08/20/2025	Cash
Common	05/19/2024	Restricted stock vesting under a registered plan	Issuer			148	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
ANITA KROLL 30 North LaSalle Street, Suite 4000 Chicago IL 60602	Common	08/13/2025	400	15684.00
ANITA KROLL 30 North LaSalle Street, Suite 4000 Chicago IL 60602	Common	08/13/2025	307	12003.70
ANITA KROLL 30 North LaSalle Street, Suite 4000 Chicago IL 60602	Common	08/13/2025	93	3636.30
ANITA KROLL 30 North LaSalle Street, Suite 4000 Chicago IL 60602	Common	08/12/2025	699	27271.14
ANITA KROLL 30 North LaSalle Street, Suite 4000 Chicago IL 60602	Common	08/12/2025	812	31679.77
ANITA KROLL 30 North LaSalle Street, Suite 4000 Chicago IL 60602	Common	08/12/2025	1505	58716.82
ANITA KROLL 30 North LaSalle Street, Suite 4000 Chicago IL 60602	Common	08/12/2025	1000	39014.50
ANITA KROLL 30 North LaSalle Street, Suite 4000 Chicago IL 60602	Common	08/12/2025	1505	58716.82
ANITA KROLL 30 North LaSalle Street, Suite 4000 Chicago IL 60602	Common	08/12/2025	1405	54815.37
ANITA KROLL 30 North LaSalle Street, Suite 4000 Chicago IL 60602	Common	08/12/2025	2221	86651.20
ANITA KROLL 30 North LaSalle Street, Suite 4000 Chicago IL 60602	Common	08/12/2025	709	27661.28
ANITA KROLL 30 North LaSalle Street, Suite 4000 Chicago IL 60602	Common	08/12/2025	2339	91254.92
ANITA KROLL 30 North LaSalle Street, Suite 4000 Chicago IL 60602	Common	08/12/2025	2653	103536.77
ANITA KROLL 30 North LaSalle Street, Suite 4000 Chicago IL 60602	Common	08/12/2025	3041	118678.98
ANITA KROLL 30 North LaSalle Street, Suite 4000 Chicago IL 60602	Common	08/12/2025	9560	373091.43
ANITA KROLL 30 North LaSalle Street, Suite 4000 Chicago IL 60602	Common	08/12/2025	1598	62364.03

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 Form 144 filed for TDS on 08/20/2025 disclose?

The notice discloses a proposed sale of 8,608 common shares valued at $336,496.67, to be sold on or about 08/20/2025 through Morgan Stanley Smith Barney LLC on the NYSE.

Where did the securities being sold originate?

The filing lists acquisitions from restricted stock vesting (05/17/2024 and 05/19/2024) attributed to services rendered and from exercise of options under a registered plan (08/20/2025) paid in cash.

Are there recent related sales reported in the filing?

Yes. The filing reports multiple sales by Anita Kroll on 08/12/2025 and 08/13/2025, with individual share amounts and gross proceeds listed.

Which broker and exchange are named for the proposed sale?

Broker: Morgan Stanley Smith Barney LLC; Exchange: NYSE.

Does the filing state the seller knows of any undisclosed material information?

By signature representation, the person selling certifies they do not know any material adverse nonpublic information regarding the issuer.