TDS grants 20,892 RSUs to subsidiary CEO Dixon

Dixon Kenneth S. reported acquisition or exercise transactions in this Form 4 filing.

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Form Type

Rhea-AI Filing Summary

Dixon Kenneth S. reported acquisition or exercise transactions in this Form 4 filing.

Telephone & Data Systems granted Kenneth S. Dixon, a director and President & CEO of a subsidiary, 20,892 restricted stock units tied to TDS common shares. These equity awards were made under TDS' Long Term Incentive Plan as part of his compensation.

According to the award terms, one-third of the restricted stock units will vest on each of the first, second, and third anniversaries of the grant date. After this grant, Dixon holds 20,892 restricted stock units directly, reflecting a routine, non-cash incentive meant to align his interests with shareholders over time.

Insider Trade Summary

Grant/Award: 20,892 shares

Grant/Award 1 txn

Insider Dixon Kenneth S.

Role President & CEO, subsidiary

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	20,892	$0.00	$0.00

Holdings After Transaction: Restricted Stock Units — 20,892 contracts (Direct)

Footnotes (1)

F1. Restricted stock units awarded 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.

Key Figures

RSUs granted: 20,892 units Grant price: $0.0000 per unit Underlying shares: 20,892 common shares +2 more

5 metrics

RSUs granted 20,892 units Restricted stock units awarded on May 20, 2026

Grant price $0.0000 per unit Equity award, non-cash compensation

Underlying shares 20,892 common shares Shares underlying the restricted stock units

Holdings after grant 20,892 RSUs Total restricted stock units following transaction

Vesting schedule 1/3 per year over 3 years On first, second, and third anniversaries of grant date

Key Terms

Restricted Stock Units, Long Term Incentive Plan, vest, Grant Date, +1 more

5 terms

Restricted Stock Units financial

"Restricted Stock Units awarded 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 awarded 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.

vest financial

"One-third of the restricted stock units will vest on the first, second and third annual anniversaries"

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

Grant Date financial

"third annual anniversaries of the Grant Date."

The grant date is the day a company formally gives an employee or contractor the right to receive stock-based compensation, such as stock options or restricted shares. It matters to investors because it fixes key terms—like the price, the start of the ownership clock, and when the award will affect the company’s financial statements and share count—so it can influence dilution, reported expenses, and potential future selling pressure.

Form 4 regulatory

"INSIDER FILING DATA (Form 4):"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

FAQ

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

What did Kenneth S. Dixon report in the latest TDS (TDS) Form 4 filing?

Kenneth S. Dixon reported receiving 20,892 restricted stock units as compensation. The award relates to TDS common shares and was granted under the company’s Long Term Incentive Plan, increasing his directly held equity-based incentives.

How many TDS restricted stock units were granted to Kenneth S. Dixon?

Kenneth S. Dixon received 20,892 restricted stock units. Each unit represents a right to receive one TDS common share upon vesting, giving him additional long-term equity exposure tied to the company’s performance and continued service.

What are the vesting terms of Kenneth S. Dixon’s new TDS restricted stock units?

One-third of the 20,892 restricted stock units will vest on each of the first, second, and third anniversaries of the grant date. This three-year vesting schedule encourages retention and aligns Dixon’s incentives with longer-term shareholder value.

Was Kenneth S. Dixon’s TDS Form 4 transaction a market buy or sell?

The Form 4 shows a grant of restricted stock units, not a market trade. The transaction is coded as an acquisition (award) at zero price, reflecting equity-based compensation rather than an open-market purchase or sale of TDS shares.

What role does Kenneth S. Dixon hold at Telephone & Data Systems (TDS)?

Kenneth S. Dixon is listed as both a director and an officer, serving as President & CEO of a TDS subsidiary. The restricted stock unit grant forms part of his compensation package and links his pay to TDS common share performance.

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

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Accepted by SEC EDGAR 05/21/2026 - 06:41 PM EDT

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^*

Dixon Kenneth S.

(Last)

(First)

(Middle)

525 JUNCTION ROAD

(Street)

MADISON

WISCONSIN

53717

(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)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	President & CEO, subsidiary

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/20/2026

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)

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⁾	05/20/2026		A		20,892		⁽¹⁾	⁽¹⁾	Common Shares	20,892	⁽¹⁾	20,892	D

Explanation of Responses:

1. Restricted stock units awarded 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.

Remarks:

	John M. Toomey, by power of atty.	05/21/2026
	** 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