TDS executive exercises awards, pays taxes in stock
Telephone & Data Systems (TDS) senior vice president Joseph R. Hanley exercised equity awards and used shares to cover taxes.
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Form Type
4
Rhea-AI Filing Summary
Telephone & Data Systems (TDS) senior vice president Joseph R. Hanley exercised equity awards and used shares to cover taxes. On May 17, 2026, he converted previously granted restricted stock units and performance share units into a total of 78,157 common shares valued at $40.50 per share. The filing shows 31,967 shares were withheld to satisfy tax obligations, so these dispositions were not open‑market sales.
Insider Trade Summary
78,157 shares exercised/converted
Exercise
6 txns
Insider
Hanley Joseph R
Role
SVP-Strategy & Corp Dev
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Performance Share Units | 58,191 | $40.50 | $2.36M |
| Exercise | Restricted Stock Units | 19,966 | $40.50 | $809K |
| Exercise | Common Shares | 58,191 | $40.50 | $2.36M |
| Exercise Price or Tax Liability | Common Shares | 23,122 | $40.50 | $936K |
| Exercise | Common Shares | 19,966 | $40.50 | $809K |
| Exercise Price or Tax Liability | Common Shares | 8,845 | $40.50 | $358K |
Holdings After Transaction:
Performance Share Units — 0 contracts (Direct);
Restricted Stock Units — 0 contracts (Direct);
Common Shares — 106,663 shares (Direct)
Footnotes (4)
- F1. On May 17, 2023, the reporting person was granted financial-based performance share units that would be measured over a three year time period. The performance share units have been accumulating quarterly dividend equivalents. The Compensation Human Resources Committee certified the third and final metric on February 25, 2026 and performance shares became adjusted for performance and time based. Each performance share unit represents the contingent right to receive one common share.
- F2. The market was closed on vest date therefore the previous trading day's close, May 15, 2026, was used to value the transaction.
- F3. Shares withheld to pay taxes on May 17, 2026.
- F4. Restricted stock units were awarded on May 17, 2023, pursuant to the 2022 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 third and final vesting. Each restricted stock unit represents the contingent right to receive one common share.
Key Figures
Derivative exercises: 78,157 shares
Tax-withholding shares: 31,967 shares
Reference share price: $40.50 per share
+2 more
5 metrics
Derivative exercises
78,157 shares
Total shares from equity award exercises on May 17, 2026
Tax-withholding shares
31,967 shares
Shares withheld to pay taxes on May 17, 2026
Reference share price
$40.50 per share
Valuation used when market was closed around vest date
Exercise transactions
2 transactions
Non-derivative common share entries classified as exercises (code M)
Tax-withholding transactions
2 transactions
Non-derivative common share entries classified as tax withholding (code F)
Key Terms
performance share units, restricted stock units, tax-withholding disposition, Long Term Incentive Plan, +1 more
5 terms
restricted stock units financial
"Restricted stock units were awarded on May 17, 2023, pursuant to the 2022 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.
tax-withholding disposition financial
"transaction_action": "tax-withholding disposition", "transaction_code_description": "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.
Long Term Incentive Plan financial
"Restricted stock units were awarded on May 17, 2023, pursuant to the 2022 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.
dividend equivalents financial
"The performance share units have been accumulating quarterly dividend equivalents"
Payments tied to employee or contractor equity awards that mirror the cash dividends paid on the company’s stock; they give the holder the same economic benefit as owning the shares without transferring actual shares—often paid in cash or additional award units when the award becomes payable. Investors care because these payments affect a company’s compensation costs, cash flow and potential share dilution, and they signal how management is being rewarded and aligned with shareholders.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider activity did TDS executive Joseph R. Hanley report?
Joseph R. Hanley reported exercising equity awards into common shares and using some shares for taxes. He converted restricted stock units and performance share units into 78,157 TDS common shares, with 31,967 shares withheld to satisfy related tax obligations, not sold on the open market.
What types of equity awards did the TDS SVP exercise or settle?
The TDS senior vice president settled restricted stock units and financial-based performance share units. These awards, originally granted in May 2023 under a long-term incentive plan, converted into common shares once vesting conditions and performance metrics were certified by the Compensation Human Resources Committee.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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