CFO of TDS (NYSE: TDS) exercises 116,789 shares; 53,111 for taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Telephone & Data Systems (TDS) Executive Vice President & CFO Vicki L. Villacrez reported compensation-related equity activity in common shares.
She exercised derivative awards for 116,789 common shares, consisting of restricted stock units and performance share units granted in 2023, valued at $40.50 per share.
To cover tax obligations, 53,111 shares were disposed of through tax-withholding transactions, rather than open-market sales, leaving her with a continued direct equity stake in TDS.
Positive
- None.
Negative
- None.
Insider Trade Summary
116,789 shares exercised/converted
Mixed
6 txns
Insider
Villacrez Vicki L
Role
Executive Vice President & CFO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Performance Share Units | 86,956 | $40.50 | $3.52M |
| Exercise | Restricted Stock Units | 29,833 | $40.50 | $1.21M |
| Exercise | Common Shares | 86,956 | $40.50 | $3.52M |
| Tax Withholding | Common Shares | 39,089 | $40.50 | $1.58M |
| Exercise | Common Shares | 29,833 | $40.50 | $1.21M |
| Tax Withholding | Common Shares | 14,022 | $40.50 | $568K |
Holdings After Transaction:
Performance Share Units — 0 shares (Direct, null);
Restricted Stock Units — 0 shares (Direct, null);
Common Shares — 87,410 shares (Direct, null)
Footnotes (1)
- 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. The market was closed on vest date therefore the previous trading day's close, May 15, 2026, was used to value the transaction. Shares withheld to pay taxes on May 17, 2026. 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 shares exercised: 116,789 shares
Tax-withheld shares: 53,111 shares
Valuation price: $40.50 per share
+2 more
5 metrics
Derivative shares exercised
116,789 shares
Total common shares from RSUs and performance share units
Tax-withheld shares
53,111 shares
Shares delivered to satisfy tax obligations
Valuation price
$40.50 per share
Previous trading day’s close on May 15, 2026
RSUs converted
29,833 shares
Restricted stock units settled into common shares
Performance share units converted
86,956 shares
Financial-based performance share units settled into common shares
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
"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.
