TDS vice chair exercises, sells 77,100 shares
TDS’s Vice Chair exercised vested options and sold the resulting shares, while retaining large indirect holdings through family entities and a Voting Trust.
Rhea-AI Filing Summary
Telephone & Data Systems Inc. (TDS) reported that Vice Chair and director Leroy T. Carlson Jr. exercised stock options for 77,100 Common Shares on September 11, 2026 at an exercise price of $19.15 per share granted under the Long-Term Incentive Plan, and the options were fully vested.
On the same date, he acquired 77,100 Common Shares through this exercise and then sold 77,100 Common Shares in multiple transactions at a weighted-average price of $37.454149 per share, with sale prices ranging from $37.37 to $37.70; no Rule 10b5-1 trading plan is reported. After these transactions, he continues to hold significant indirect Common Share positions through his wife, several family trusts, and a Voting Trust, including 1,813,360 Common Shares reported as held by a Voting Trust in which he and family members have a pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
Exercise and Sale: 77,100 shares ($1.49M approx. pre-tax spread)
Exercise and Sale
10 txns
Insider
CARLSON LEROY T JR
Role
Vice Chair
Sold
77,100 shs ($2.96M)
Approx. gross sale proceeds
$2.96M
Approx. exercise cost
$1.48M
Approx. pre-tax spread
$1.49M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Option (Right to Buy) F4 | 77,100 | $0.00 | $0.00 |
| Exercise | Common Shares F1 | 77,100 | $19.15 | $1.48M |
| Sale | Common Shares F2 | 77,100 | $38.4541 | $2.96M |
| holding | Common Shares | -- | -- | -- |
| holding | Common Shares | -- | -- | -- |
| holding | Common Shares | -- | -- | -- |
| holding | Common Shares | -- | -- | -- |
| holding | Common Shares | -- | -- | -- |
| holding | Common | -- | -- | -- |
| holding | Common Shares F3 | -- | -- | -- |
Holdings After Transaction:
Option (Right to Buy) — 0 contracts (Direct);
Common Shares — 480,360 shares (Direct);
Common Shares — 140,000 shares (Indirect, By Wife);
Common Shares — 78,521.322 shares (Indirect, By Wife 2026 Trust);
Common Shares — 500,000 shares (Indirect, By 2026 Trust);
Common Shares — 85,149.928 shares (Indirect, By Wife 2003 Trust);
Common Shares — 211,758 shares (Indirect, By Trust);
Common — 78,943 shares (Indirect, By Trust);
Common Shares — 1,813,360 shares (Indirect, By Voting Trust)
Footnotes (4)
- F1. These figures reflect an additional 227,190 shares that were previously transferred from Reporting Person's GRAT in a transaction that was exempt from Section 16 pursuant to Rule 16a-13 under the Exchange Act.
- F2. Reporting person sold Common Shares at an average price of $37.454149 of which the Common Shares were sold in multiple transactions at prices ranging from $37.37 and $37.70. The reporting person undertakes to provide to the SEC, the Issuer and any security holder, the full information regarding the number of shares and the prices at which the shares were sold.
- F3. Reporting person is a member of the Voting Trust which separately files on Forms 4 for the issuer. The Common Shares reported are held by reporting person and his family members that have a pecuniary interest in such shares. Includes 693,778 Common Shares held by a family partnership of which reporting person is a general partner, of which 23,780 has been accumulated in dividend reinvestment. This number also includes Common Shares that the reporting person accumulates in the dividend reinvestment plan.
- F4. Granted under the Long-Term Incentive Plan. Stock options were vested.
Key Figures
Options Exercised: 77,100 shares
Exercise Price: $19.15 per share
Shares Sold: 77,100 shares
+5 more
8 metrics
Options Exercised
77,100 shares
Option (Right to Buy) for Common Shares exercised on September 11, 2026
Exercise Price
$19.15 per share
Exercise price of options for 77,100 Common Shares
Shares Sold
77,100 shares
Common Shares sold following option exercise on September 11, 2026
Weighted-Average Sale Price
$37.454149 per share
Common Shares sold in multiple transactions, with prices from $37.37 to $37.70
Voting Trust Holdings
1,813,360 Common Shares
Indirect holdings reported as held by a Voting Trust in which the reporting person and family members have a pecuniary interest
Family Partnership Holdings within Voting Trust
693,778 Common Shares
Portion of Voting Trust holdings held by a family partnership, including shares accumulated through dividend reinvestment
Dividend Reinvestment Accumulation
23,780 Common Shares
Common Shares accumulated in dividend reinvestment within the family partnership/Voting Trust holdings
Previously Transferred GRAT Shares
227,190 shares
Shares previously transferred from the reporting person’s GRAT in a transaction exempt under Rule 16a-13
Key Terms
Long-Term Incentive Plan, Rule 16a-13, GRAT, dividend reinvestment plan, +1 more
5 terms
Long-Term Incentive Plan financial
"Granted under the Long-Term Incentive Plan. Stock options were vested."
A long-term incentive plan is a company program that pays executives or employees with stock, options, or cash tied to multi-year performance goals, where the rewards become theirs only after meeting conditions over time. Think of it as a delayed bonus or retirement-style reward that aligns employees’ interests with shareholders by encouraging them to boost long-term value; investors watch these plans because they affect pay costs, share dilution and management incentives.
Rule 16a-13 regulatory
"transaction that was exempt from Section 16 pursuant to Rule 16a-13 under"
GRAT financial
"previously transferred from Reporting Person's GRAT in a transaction"
dividend reinvestment plan financial
"This number also includes Common Shares that the reporting person accumulates in the dividend reinvestment plan."
A dividend reinvestment plan lets shareholders automatically use cash dividends to buy more shares of the same company instead of receiving the money. It matters to investors because it turns regular payouts into a steady way to grow ownership and take advantage of compound returns—like having your savings automatically buy additional slices of a pie over time—while often reducing transaction costs and smoothing purchase timing.
Voting Trust financial
"Reporting person is a member of the Voting Trust which separately files"
A voting trust is an arrangement where shareholders temporarily transfer their voting rights to one or more trusted individuals (trustees) who vote on company matters on their behalf. It matters to investors because it consolidates decision-making power—like handing the car keys to a single driver for a journey—which can stabilize leadership or push through strategic plans but also reduces individual shareholders’ direct influence and can affect the company’s direction and stock value.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did TDS Vice Chair Leroy T. Carlson Jr. report on this Form 4 for TDS?
He reported exercising options for 77,100 Common Shares of TDS at an exercise price of $19.15 per share on September 11, 2026 and selling 77,100 Common Shares that same day in multiple transactions at a weighted-average price of $37.454149 per share.
What options did Leroy T. Carlson Jr. exercise in this TDS Form 4 filing?
He exercised an Option (Right to Buy) for 77,100 Common Shares of TDS at an exercise price of $19.15 per share. The option was granted under the Long-Term Incentive Plan and was fully vested; following the exercise, 0 options from this grant remained outstanding.
Does the TDS Form 4 indicate a Rule 10b5-1 trading plan for these transactions?
No. The filing’s Rule 10b5-1 checkbox is not marked as being under such a plan, and the footnotes do not state that the transactions were made pursuant to a Rule 10b5-1 trading plan.
What exempt transfer is mentioned in the TDS Form 4 footnotes?
A footnote states that figures reflect an additional 227,190 shares previously transferred from the reporting person’s GRAT in a transaction exempt from Section 16 under Rule 16a-13 of the Exchange Act.
AI-generated analysis. How Rhea-AI works. Not financial advice.
