TDS (NYSE: TDS) VP settles RSUs; 1,277 shares withheld for tax

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Telephone & Data Systems (TDS) vice president, controller and chief accounting officer Anita J. Kroll reported routine equity compensation activity. On June 11, 2026, 2,716 restricted stock units vested and were settled into an equal number of common shares under TDS' Long Term Incentive Plan. As part of this vesting, 1,277 common shares were withheld to pay taxes. After these transactions, Kroll directly owned 20,546 common shares.

Insider Trade Summary

0 shares exercised/converted

Mixed 3 txns

Insider Kroll Anita J

Role VP, Controller & CAO

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	0	$0.00	--
Exercise	Common Shares	2,716	$40.03	$109K
Tax Withholding	Common Shares	1,277	$40.03	$51K

Holdings After Transaction: Restricted Stock Units — 2,716 shares (Direct, null); Common Shares — 21,823 shares (Direct, null)

Footnotes (1)

Restricted stock units were awarded on June 11, 2024, pursuant to TDS' Long Term Incentive Plan. One-third of the restricted stock units will vest on the first, second and third annual anniversaries of the Grant Date. This transaction represents settlement of the second vesting. Each restricted stock unit ("RSU") represents the right to receive one common share. Shares withheld to pay taxes.

Key Figures

Shares withheld for taxes: 1,277 shares at $40.03 RSUs vested and settled: 2,716 restricted stock units Shares held after transactions: 20,546 common shares +1 more

4 metrics

Shares withheld for taxes 1,277 shares at $40.03 Tax-withholding disposition on June 11, 2026

RSUs vested and settled 2,716 restricted stock units Second vesting under Long Term Incentive Plan

Shares held after transactions 20,546 common shares Direct ownership following June 11, 2026 activity

Transaction price reference $40.03 per share Price used for June 11, 2026 Form 4 entries

Key Terms

Restricted stock units, Long Term Incentive Plan, tax-withholding disposition, derivative security

4 terms

Restricted stock units financial

"Restricted stock units were awarded on June 11, 2024, pursuant to TDS' Long Term Incentive Plan."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

Long Term Incentive Plan financial

"Restricted stock units were awarded on June 11, 2024, pursuant to TDS' Long Term Incentive Plan."

A long term incentive plan is a company program that awards executives and key employees bonuses—often in stock, options, or cash—only if the business meets multi-year performance goals. It links management pay to company results—like tying a coach’s bonus to a team’s multi-season record—so investors monitor it for how leaders are motivated, potential share dilution, and signals about the company’s long-term priorities.

tax-withholding disposition financial

"Payment of exercise price or tax liability by delivering securities"

A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.

derivative security financial

"Exercise or conversion of derivative security"

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

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Form 4 Insider Transactions: What Each Field Means →

06/15/2026 - 07:11 AM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Kroll Anita J

(Last)

(First)

(Middle)

30 N. LASALLE STREET, SUITE 4000

(Street)

CHICAGO

ILLINOIS

60602

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
TELEPHONE & DATA SYSTEMS INC /DE/ [ TDS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	VP, Controller & CAO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/11/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Shares	06/11/2026		M⁽¹⁾		2,716	A	$40.03	21,823	D
Common Shares	06/11/2026		F⁽²⁾		1,277	D	$40.03	20,546	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Units	⁽¹⁾	06/11/2026		M			0	⁽¹⁾	⁽¹⁾	Common Shares	2,716	$0	2,716	D

Explanation of Responses:

1. Restricted stock units were awarded on June 11, 2024, pursuant to TDS' Long Term Incentive Plan. One-third of the restricted stock units will vest on the first, second and third annual anniversaries of the Grant Date. This transaction represents settlement of the second vesting. Each restricted stock unit ("RSU") represents the right to receive one common share.

2. Shares withheld to pay taxes.

Remarks:

	John M. Toomey, by power of atty.	06/15/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did TDS executive Anita J. Kroll report on this Form 4?

Anita J. Kroll reported vesting of 2,716 restricted stock units into common shares and the withholding of 1,277 shares to cover taxes. These entries reflect equity compensation settlement rather than open-market buying or selling activity.

Were the TDS Form 4 transactions open-market buys or sells of common shares?

No, the transactions were not open-market buys or sells. They involved the exercise and settlement of restricted stock units and a tax-withholding disposition, where 1,277 shares were withheld to satisfy tax obligations on the vested equity.

How many TDS common shares did Anita J. Kroll hold after the reported transactions?

After the reported equity compensation transactions, Anita J. Kroll directly held 20,546 TDS common shares. This post-transaction balance reflects the net result of RSU vesting and shares withheld for tax payments on June 11, 2026.

What do the 2,716 restricted stock units in the TDS filing represent?

The 2,716 restricted stock units represent equity awarded under TDS' Long Term Incentive Plan, granted June 11, 2024. Each RSU converts into one common share upon vesting, and this filing records settlement of the second vesting tranche of that award.

Why were 1,277 TDS shares withheld in Anita J. Kroll’s Form 4?

The 1,277 TDS shares were withheld to pay taxes due on the RSU vesting. Instead of Kroll paying cash, the company retained part of the vested shares to satisfy her tax liability associated with the equity award.

What is the significance of transaction codes M and F in the TDS Form 4?

Code M indicates exercise or conversion of a derivative security, here RSUs converting into common shares. Code F reflects shares disposed to pay taxes, meaning a tax-withholding disposition rather than an open-market sale of TDS stock.