[144] Telephone and Data Systems Inc. SEC Filing

Rhea-AI Filing Summary

Telephone and Data Systems Inc. (TDS) filed a Form 144 reporting a proposed sale of 29,047 shares of common stock through Morgan Stanley Smith Barney, with an aggregate market value of $1,133,453.04. The filing lists an approximate sale date of 08/12/2025 and shows 108,000,000 shares outstanding, meaning the proposed sale equals roughly 0.027% of the outstanding shares.

The securities being sold were acquired through a mix of option exercises and restricted stock vesting on multiple dates, with payment recorded as cash for option exercises and as consideration for services rendered for vested grants. The filing notes no securities sold in the past three months by the seller and includes the standard attestation that the filer has no undisclosed material adverse information.

Insights

Financial Analyst

TL;DR: Small, routine insider liquidity—29,047 shares (~$1.13M) proposed for sale; immaterial relative to 108M outstanding.

The filing documents a planned sale that represents about 0.027% of the company's outstanding common stock, indicating a routine liquidity event rather than a material disposition. The reported holdings were acquired via option exercises and multiple restricted stock vesting dates, with cash and services as payment methods. No prior 3-month sales are reported, and the use of a major broker suggests standard market execution.

Corporate Governance Expert

TL;DR: Compliance-focused filing with standard attestations and disclosures; no red flags from available details.

The Form 144 uses the prescribed disclosures: acquisition chronology, nature of acquisition (exercises and vesting under registered plans), payment methods, broker identity, and the seller's attestation of no undisclosed material adverse information. The mix of grant types and multiple vesting/exercise dates is consistent with compensation-related sales. The document contains the usual criminal-misstatement warning but provides no indication of regulatory or governance issues.

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	29047	1133453.04	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			1598	08/12/2025	Cash
Common	05/24/2020	Restricted stock vesting under a registered plan	Issuer			812	05/24/2020	Services Rendered
Common	05/17/2024	Restricted stock vesting under a registered plan	Issuer			2339	05/17/2024	Services Rendered
Common	05/21/2023	Restricted stock vesting under a registered plan	Issuer			2221	05/21/2023	Services Rendered
Common	05/11/2019	Restricted stock vesting under a registered plan	Issuer			699	05/11/2019	Services Rendered
Common	02/19/2024	Restricted stock vesting under a registered plan	Issuer			709	02/19/2024	Services Rendered
Common	05/22/2022	Restricted stock vesting under a registered plan	Issuer			1505	05/22/2022	Services Rendered
Common	08/12/2025	Exercise of options under a registered plan	Issuer			9560	08/12/2025	Cash
Common	08/12/2025	Exercise of options under a registered plan	Issuer			3041	08/12/2025	Cash
Common	02/20/2023	Restricted stock vesting under a registered plan	Issuer			1405	02/20/2023	Services Rendered
Common	02/10/2022	Restricted stock vesting under a registered plan	Issuer			1000	02/10/2022	Services Rendered
Common	08/12/2025	Exercise of options under a registered plan	Issuer			2653	08/12/2025	Cash
Common	05/23/2021	Restricted stock vesting under a registered plan	Issuer			1505	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 29,047 common shares of Telephone and Data Systems (TDS) with an aggregate market value of $1,133,453.04, via Morgan Stanley.

When is the proposed sale scheduled and how large is it relative to outstanding shares?

The filing lists an approximate sale date of 08/12/2025. The 29,047 shares are about 0.027% of the 108,000,000 shares outstanding shown in the filing.

Who is the broker handling the sale in the TDS Form 144?

The broker named is Morgan Stanley Smith Barney LLC (Executive Financial Services, 1 New York Plaza, 8th Floor, New York, NY 10004).

How were the securities being sold acquired?

The securities were acquired through a mix of exercise of options under registered plans and restricted stock vesting under registered plans on several dates; payment is listed as cash for exercises and services rendered for vested grants.

Were any securities sold in the past three months by the seller?

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