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

Rhea-AI Filing Summary

Form 4 filing overview: Director Walter C. D. Carlson reported acquiring additional equity in Array Digital Infrastructure, Inc. (ticker: USM).

• Transaction date: 01 Aug 2025; Form signed 04 Aug 2025.
• Securities: 1,146 common shares.
• Transaction code: A – shares granted under a non-employee director compensation plan (per footnote 1).
• Stated price: $73.50 per share.
• Post-transaction ownership: 44,628 shares held directly.

The filing indicates routine, compensation-related stock issuance rather than an open-market purchase. Nevertheless, the director’s stake rises by roughly 2.6%, modestly increasing board-level alignment with common shareholders. No derivative securities were reported.

Positive

• Director’s stake increases by 1,146 shares, modestly enhancing insider alignment with shareholders.

Negative

• Grant is compensation-related rather than open-market buying, limiting its bullish signaling power.

Insights

Securities Analyst

TL;DR: Routine director stock grant; minor increase in ownership, limited immediate market impact.

The acquisition of 1,146 shares under a director compensation program is standard governance practice and represents only a small fraction of outstanding equity. While it marginally improves insider alignment (ownership now 44,628 shares), the absence of open-market buying or large volume suggests limited signaling value. No derivatives, sales, or unusual patterns were disclosed, so the filing is neutral in valuation terms. Investors may note the continued participation in equity-based compensation but should not view the event as a strong indicator of management’s outlook.

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
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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^*

CARLSON WALTER CD

(Last) (First) (Middle)

30 N. LASALLE ST. STE. 4000

(Street)

CHICAGO IL 60602

(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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/01/2025

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	08/01/2025		A(1)		1,146	A	$73.5	44,628	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. Shares acquired pursuant to a compensation plan for non-employee directors.

Remarks:

	Julie D. Mathews, by power of atty	08/04/2025
	** 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.

FAQ

What insider transaction was reported for USM on August 1, 2025?

Director Walter C. D. Carlson acquired 1,146 common shares via a compensation plan.

How many USM shares does Walter C. D. Carlson own after the transaction?

He now holds 44,628 shares directly.

At what price were the shares reported in the Form 4 filing?

The filing lists a price of $73.50 per share.

Was the acquisition part of a compensation plan or an open-market purchase?

It was granted under a non-employee director compensation plan (Transaction Code A).

Does this Form 4 filing include any derivative security transactions?

No, Table II shows no derivative securities were involved.