Telephone & Data Systems insider plans $2.9M sale

TELEPHONE & DATA SYSTEMS INC (TDS) received a notice that Leroy T. Carlson Jr. plans to sell 77,100 shares of common stock under Rule 144 through Morgan Stanley Smith Barney.

Rhea-AI Filing Summary

TELEPHONE & DATA SYSTEMS INC (TDS) received a notice that Leroy T. Carlson Jr. plans to sell 77,100 shares of common stock under Rule 144 through Morgan Stanley Smith Barney. The shares relate to a stock option exercise and have an indicated aggregate market value of $2,888,482.11, with the proposed sale date of September 11, 2026 on the NYSE.

Key Figures

Shares to be sold: 77,100 shares Aggregate market value: $2,888,482.11 Shares outstanding: 107,600,000 shares +1 more

4 metrics

Shares to be sold 77,100 shares Common stock covered by the Rule 144 notice

Aggregate market value $2,888,482.11 Value of the 77,100 TDS shares proposed to be sold

Shares outstanding 107,600,000 shares TDS common shares outstanding as referenced in the notice

Proposed sale date September 11, 2026 Planned date for the Rule 144 sale on the NYSE

Key Terms

Rule 144, aggregate market value, Stock Option Exercise

3 terms

Rule 144 regulatory

"See the definition of "person" in paragraph (a) of Rule 144."

Rule 144 is a U.S. securities regulation that sets conditions under which restricted or insider-held shares can be legally resold to the public, such as required holding periods, availability of public information, limits on how much can be sold at once, and certain filing requirements. For investors it matters because it determines when previously locked-up shares can enter the market — like a release valve that can increase supply, affect share price, and signal insider intent.

aggregate market value financial

"77100 | 2888482.11 | 107600000 | 09/11/2026"

Aggregate market value is the combined price you would pay to buy all outstanding shares of a company or all companies in a group at current market prices — essentially the sum of each stock’s market capitalization. It matters to investors because it shows the overall size and weight of an investment or sector (like the total cost to buy every piece of a puzzle), helps compare scale across companies or markets, and influences index composition and risk exposure.

Stock Option Exercise financial

"Common | 09/11/2026 | Stock Option Exercise | Issuer"

A stock option exercise is the act of using a previously granted right to buy shares of a company's stock at a specific, predetermined price by paying that price and receiving the shares. It matters to investors because exercising changes who owns the shares (which can dilute existing ownership), can trigger taxable events and shift potential gains or losses, and affects voting power and the company’s outstanding share count—like turning a voucher into an actual product that becomes part of circulating supply.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did TDS disclose in this Form 144 filing?

TDS disclosed that Leroy T. Carlson Jr. filed a Rule 144 notice to sell 77,100 shares of TDS common stock, arising from a stock option exercise, to be sold through Morgan Stanley Smith Barney on or about September 11, 2026 on the NYSE.

How many TDS (TDS) shares are covered by Leroy T. Carlson Jr.’s planned sale?

The planned Rule 144 sale covers 77,100 shares of TELEPHONE & DATA SYSTEMS INC common stock, as indicated in the notice of proposed sale.

What is the aggregate market value of the TDS shares in this Form 144?

The Form 144 states an aggregate market value of $2,888,482.11 for the 77,100 TDS common shares proposed to be sold under Rule 144.

When is the proposed sale date for the TDS shares in this Rule 144 notice?

The notice lists a proposed sale date of September 11, 2026 for the 77,100 TDS common shares to be sold on the NYSE.

How many TDS shares were outstanding according to this Form 144?

The Form 144 reports 107,600,000 shares of TELEPHONE & DATA SYSTEMS INC common stock outstanding, providing context for the size of the 77,100-share proposed sale.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/11/2026 - 04:42 PM EDT Accepted by SEC EDGAR 09/11/2026 - 04:42 PM EDT Learn about SEC filing dates

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	0000901731
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	TELEPHONE AND DATA SYSTEMS, INC.
SEC File Number	001-14157
Address of Issuer	30 North LaSalle Street, Suite 4000 Chicago ILLINOIS 60602
Phone	(312) 630-1900
Name of Person for Whose Account the Securities are To Be Sold	LEROY T. CARLSON JR.
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	Officer
Relationship to Issuer	Director

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	77100	2888482.11	107600000	09/11/2026	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	09/11/2026	Stock Option Exercise	Issuer			77100	09/11/2026	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	09/11/2026
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	/s/ Leroy Carlson
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)