Telephone and Data Systems (TDS) officer (VP, Controller & CAO) reported open‑market sales of Common Shares. On 11/10/2025, the reporting person sold 16,217 shares at an average price of $39.0182. On 11/11/2025, they sold 870 shares at an average price of $39.1579. Following these transactions, the filing shows 0 shares directly owned.
The transactions are coded “S” for sales, and prices reflect multiple trades within stated ranges on each date.
Telephone and Data Systems (TDS) filed its Q3 2025 report highlighting a transformative divestiture and mixed operating trends. On August 1, Array Digital Infrastructure (82%-owned) closed the sale of its wireless operations and select spectrum to T-Mobile for $4,293.8 million after adjustments, including $2,628.8 million in cash and $1,665.0 million of debt assumed via exchange. An estimated $20.2 million purchase price true‑up is recorded. T-Mobile also received short‑term spectrum access at no cost for up to one year, generating $30.4 million of imputed lease income.
The new Master License Agreement boosted Array’s tower business: Q3 site rental revenue rose 79% to $45.8 million, lifting Array’s total revenue 83% to $47.1 million. Consolidated Adjusted EBITDA from continuing operations increased 53% to $168.7 million, though total operating revenues declined 6% to $308.5 million. TDS Telecom revenue fell 3% to $255.1 million as legacy services declined, while fiber expansion continued.
TDS repaid multiple term loans, while Array exchanged $1,680.1 million of notes and later carried $363.9 million of senior notes; Array borrowed $325.0 million under a new CoBank term loan. TDS repurchased 1,077,564 shares for $40.7 million. Shares outstanding as of September 30 were 108.0 million Common and 7.5 million Series A.
Telephone and Data Systems, Inc. furnished a current report to note that it has released financial results for the period ended September 30, 2025. The company states that it issued an earnings news release on November 7, 2025, and that this release is included as Exhibit 99.1 to the report.
The information about results of operations and financial condition is furnished under Item 2.02 and is not treated as filed for liability purposes under the Securities Exchange Act. The filing also lists an exhibit containing the earnings press release and an exhibit for the cover page XBRL data, both tied to this reporting of the latest operating results.
Telephone and Data Systems Inc. (TDS) Form 144 shows an insider sale notice for common stock. The filing reports a planned sale of 71,359 shares through Morgan Stanley Smith Barney on 08/28/2025, with an aggregate market value of $2,858,498.82. The shares to be sold were acquired the same day, 08/28/2025, by exercise of options under a registered plan and paid in cash. The filing also discloses that James W. Butman sold a total of 201,990 shares during 08/19/2025–08/27/2025, generating gross proceeds of approximately $7,950,838.98. The filer certifies no undisclosed material adverse information.
Telephone and Data Systems Inc. (TDS) Form 144 notifies the proposed sale of 84,882 common shares through Morgan Stanley Smith Barney LLC on the NYSE, with an aggregate market value of $3,370,256.79. The filing states these shares were acquired on 08/27/2025 by exercise of options under a registered plan and paid for in cash on the same date. The filer also reports six share sales by the same person in August 2025 totaling 117,108 shares for gross proceeds of $4,580,582.19. The notice includes the standard representation that the seller is not aware of unpublished material adverse information.
Form 144 notice for Telephone and Data Systems, Inc. (TDS): An insider sold common stock after exercising options under a registered plan. The filing shows 23,681 shares proposed for sale through Morgan Stanley Smith Barney with an aggregate market value of $928,034.71. The shares were acquired and are to be sold on 08/26/2025 with cash payment for the exercise.
The filing also discloses multiple recent open-market sales by the same person, James W. Butman, totaling 93,427 shares sold between 08/19/2025 and 08/25/2025 with combined gross proceeds reported across those sales. The number of shares to be sold represents a very small fraction of the company’s 108,000,000 outstanding shares. The filer certifies no undisclosed material adverse information.
Telephone and Data Systems Inc. (TDS) Form 144 notice reports a proposed sale of 15,475 common shares through Morgan Stanley Smith Barney with an aggregate market value of $603,876.28 and the issuer's outstanding shares listed as 180,000,000. The shares were acquired on 08/25/2025 by exercise of options under a registered plan and paid for in cash on the same date. The filing also discloses four recent sales by James W Butman on 08/19–08/22/2025 totaling 77,952 shares for combined gross proceeds of $3,019,670.20. The filer certifies no undisclosed material adverse information.
Form 144 notice for Telephone and Data Systems Inc. (TDS) shows a proposed sale of 10,520 common shares through Morgan Stanley Smith Barney (NYC) with an aggregate market value of $410,554.57, scheduled approximately on 08/22/2025. The filing states the shares were acquired on 08/22/2025 by exercise of options under a registered plan and paid in cash on that date. The filer, listed in recent transactions as James W Butman, reported sales of 26,470, 25,962, and 15,000 common shares on 08/21/2025, 08/20/2025, and 08/19/2025 respectively, generating gross proceeds of $1,036,324.32, $1,016,061.81, and $585,730.50. The filing does not provide the filer’s relationship to the issuer.
Carlson Leroy T. Jr., Vice Chair and director of Telephone & Data Systems, Inc. (TDS), reported multiple transfers of common stock on August 19–20, 2025. The filings show distributions from a Grantor Retained Annuity Trust (GRAT) and gifts: 161,749 shares were distributed from the reporting person’s GRAT as an annuity payment and 64,543 shares were distributed from the reporting person’s spouse’s GRAT as an annuity payment, each transfer described as exempt from Section 16 under Rule 16a-13. The Form 4 also records additional gift transfers (code G) and resulting beneficial ownership figures after the transactions, including reported post-transaction holdings such as 311,364, 369,373, 531,122 and other stated totals across direct and indirect ownership forms. The Form 4 is signed by Julie D. Mathews by power of attorney on behalf of the reporting person.
Telephone and Data Systems, Inc. fully repaid all outstanding borrowings and other obligations under three major credit agreements and terminated those facilities on August 19, 2025. The terminated agreements included its amended and restated credit agreement with CoBank, ACB, a senior secured credit agreement with Wells Fargo National Association, and a credit agreement with Oaktree Fund Administration, LLC.
TDS incurred a $9 million termination penalty tied to ending the credit agreement with Oaktree Fund Administration, LLC. The actions reduce reliance on these specific lender arrangements and eliminate related indebtedness, while adding a one-time cash cost from the penalty.