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CARLSON WALTER CD reported acquisition or exercise transactions in this Form 4 filing.
TELEPHONE & DATA SYSTEMS INC President and CEO Walter C.D. Carlson received a grant of 31,731 restricted stock units as part of his compensation. These units were awarded under the company’s Long Term Incentive Plan and represent an equivalent number of common shares.
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, creating a three-year vesting schedule. This is a non-cash, equity-based award and no open-market share purchases or sales were reported in this Form 4.
Telephone & Data Systems reported that VP, Controller & CAO Anita J. Kroll received a grant of 3,654 restricted stock units as equity compensation. These units convert into an equal number of common shares. One-third of the units will vest on each of the first, second, and third anniversaries of the grant date, encouraging multi-year retention and alignment with shareholders.
TELEPHONE & DATA SYSTEMS INC senior vice president of strategy and corporate development Joseph R. Hanley exercised stock options and settled related obligations in shares. He exercised options for a total of 20,171 common shares at exercise prices of $25.36 and $19.15 per share under the TDS Long-Term Incentive Plan. To cover the option strike cost and associated taxes, 14,689 shares were withheld at a price of $42.06 per share, as described in the footnotes, resulting in a net increase of 5,482 directly held common shares. Following these transactions, Hanley directly owns 112,145 common shares. The options exercised were originally granted in 2020 and 2021 and vested on the third anniversary of their grant dates.
Telephone & Data Systems Vice Chair Leroy T. Carlson Jr. reported equity award vesting and related share movements, not open-market trading. He exercised a total of 876,490 performance and restricted stock units into common shares at $40.5000 per share value, tied to long-term incentive grants from May 17, 2023.
To cover tax obligations on these vestings, 373,041 common shares were delivered back as a tax-withholding disposition, rather than sold on the market. The filing also details substantial indirect ownership in TDS common shares held through a voting trust, multiple family trusts, a family partnership, a dividend reinvestment plan, and shares held by his spouse and her trust.
Telephone & Data Systems (TDS) VP, Controller & CAO Anita J. Kroll reported compensation-related share activity. On May 17, 2026, she exercised 7,348 restricted stock units and 21,409 financial-based performance share units into common shares at a reference price of $40.50 per share.
To cover tax obligations on these vestings, a total of 10,425 common shares were withheld rather than sold on the open market. The footnotes explain that the performance share units were granted in 2023, measured over three years with dividend equivalents, and that this filing reflects their third and final metric certification and settlement.
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.
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.
Telephone and Data Systems, Inc. (TDS) returned to strong profitability in Q1 2026, driven largely by asset sales and tower growth. Net income attributable to TDS shareholders rose to $144.6 million from $7.5 million a year earlier, and net income from continuing operations reached $179.4 million.
Total operating revenues increased 7% to $309.5 million, as Array’s tower business nearly doubled site rental revenue to $51.0 million following its long-term master license agreement with T-Mobile. TDS Telecom revenues declined 3% to $249.6 million amid legacy voice and video losses, though fiber broadband connections continued to grow.
Results were boosted by a $150.9 million gain on the $1.018 billion sale of certain spectrum licenses to AT&T and $34.2 million of short-term imputed spectrum lease income tied to the prior T-Mobile transaction. Consolidated Adjusted EBITDA from continuing operations rose 49% to $144.5 million, while capital expenditures more than doubled to $136.2 million, mainly for fiber deployment and towers.
Liquidity strengthened, with cash and cash equivalents increasing to $1.37 billion and long-term debt, net, declining to $672.7 million. Array paid a $10.25 per share special dividend (total $885.5 million), of which TDS received $725.6 million. TDS also outlined an ongoing strategic alternatives review and a non-binding proposal to acquire the Array shares it does not already own.
Telephone and Data Systems, Inc. (TDS) reported a sharp turnaround to profitability in first quarter 2026, driven by spectrum license sales. Total operating revenues from continuing operations were $309.5 million, up 7% from $290.4 million a year earlier.
Net income from continuing operations attributable to TDS shareholders was $146.6 million, versus a loss of $5.9 million, with diluted earnings per share from continuing operations of $1.11 compared to a loss of $0.20. Results include a $150.9 million book gain from the $1,018.0 million sale of certain 3.45 GHz and 700 MHz wireless spectrum licenses.
TDS Telecom revenues declined 3% to $249.6 million, while Array revenues grew 93% to $52.0 million as site rental revenues rose 92%. Both TDS Telecom and Array reaffirmed their unchanged full-year 2026 guidance ranges, and TDS delivered a non-binding proposal to acquire all Array common shares it does not already own.
Telephone and Data Systems, Inc. (TDS) is the subject of this amended Schedule 13D, which updates the position of a Delaware Voting Trust that holds TDS shares. The Trustees may be deemed to beneficially own 13,517,699 TDS shares, or about 11.9% of TDS’s outstanding capital stock, including 6,304,105 Common Shares and 7,213,594 Series A Common Shares that are convertible into Common Shares. Because the Series A stock carries ten votes per share and represents most of that class, the Voting Trust controls roughly 56.8% of TDS’s aggregate voting power and can elect a majority of directors. The filing also notes that on May 7, 2026, TDS delivered a non-binding proposal to acquire all Array Digital Infrastructure, Inc. common shares it does not already own, and the Trustees state they intend to maintain the ability to keep or dispose of voting control of both TDS and, if still public, Array.