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[Form 4] United States Cellular Corporation 5.500% Senior Notes due 2070 Insider Trading Activity

Filing Impact
(Very High)
Filing Sentiment
(Very Negative)
Form Type
4

Rhea-AI Filing Summary

Douglas W. Chambers, a director and the interim President and CEO of Array Digital Infrastructure, Inc. (USM), reported the sale of 93,300 common shares on 08/12/2025. The reported sale was coded as an open-market sale and executed at an average price of approximately $75.77 per share (detailed as 65,395 shares at an average $75.76 and 27,905 shares at an average $75.7952, with trade prices ranging $75.62–$76.18). After the transactions, the reporting person beneficially owned 17,600 shares in a direct capacity. The filing is signed by an attorney-in-fact on behalf of the reporting person.

Positive

  • None.

Negative

  • None.

Insights

TL;DR: A senior executive sold a meaningful block of shares, reducing direct ownership to 17,600 shares.

The report documents an open-market disposition by the company's interim CEO and director, indicating partial monetization of holdings rather than a full exit. Sales occurred in multiple transactions at prices between $75.62 and $76.18, producing an average price near $75.77. For governance observers, insider sales by a sitting CEO warrant attention for timing and disclosure clarity, but the filing states the sales and supplies average price breakdowns. The filing does not state any contemporaneous purchases or a trading plan (Rule 10b5-1) authorizing these dispositions, so readers should not infer an automatic-defense plan from this document alone.

TL;DR: Material volume sold; remaining direct stake is small relative to transactions reported.

The reporting person disposed of 93,300 common shares via multiple transactions at roughly $75.77 per share and retained 17,600 shares. The disclosed average prices and price range provide clear execution detail. From a market-impact perspective, the sale size and the average execution price are relevant for short-term trading interest but the filing contains no information on whether the sales were part of a pre-arranged plan or driven by liquidity needs. No derivative activity or other holdings are reported on this Form 4.

Insider Chambers Douglas W
Role Interim President and CEO
Sold 93,300 shs ($7.07M)
Type Security Shares Price Value
Sale Common Shares 93,300 $75.77 $7.07M
Holdings After Transaction: Common Shares — 17,600 shares (Direct)
Footnotes (1)
  1. F1. The reporting person sold 65,395 Common Shares at an average price of $75.76 and 27,905 Common Shares at an average price of $75.7952 in which shares were sold in multiple transactions at prices ranging from $75.62 and $76.18. 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.

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

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Form 4 Insider Transactions: What Each Field Means →
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*
Chambers Douglas W
(Last) (First) (Middle)
500 W. MADISON STREET, SUITE 810
(Street)
CHICAGO IL 60661
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
ARRAY DIGITAL INFRASTRUCTURE, INC. [ USM ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
X Officer (give title below) Other (specify below)
Interim President and CEO
3. Date of Earliest Transaction (Month/Day/Year)
08/12/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
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)
Code V Amount (A) or (D) Price
Common Shares 08/12/2025 S 93,300 D $75.77(1) 17,600 D
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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
1. The reporting person sold 65,395 Common Shares at an average price of $75.76 and 27,905 Common Shares at an average price of $75.7952 in which shares were sold in multiple transactions at prices ranging from $75.62 and $76.18. 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.
Remarks:
Julie D Mathews, by power of atty 08/14/2025
** 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.

Source: View Original Filing on SEC EDGAR