CARLSON LEROY T JR, PRES, reported a transaction classified as withholding at TELEPHONE & DATA SYSTEMS INC /DE/ involving 91908.000000 shares for an estimated $3488827.68. Reported holdings after the transaction were 130812.000000 shares. A 10b5-1 reference was not detected in the stored filing text.
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President and CEO
On May 19, 2022, the reporting person was granted financial-based performance share units that would be measured over a three year time period. The payout could be
increased to 200% of target or reduced to 0% based on achievement of the key metrics. The performance share units have been accumulating quarterly dividend
equivalents. Based on company performance over the three year period ending on December 31, 2024, the Compensation Human Resources Committee certified on
February 21, 2025 that the reporting person was entitled to 85.0% of his target opportunity. The Performance Shares were certified and are now adjusted for performance
and vested immediately on February 21, 2025. Each performance share unit represents the contingent right to receive one common share.
Shares withheld to pay taxes
Reporting person is one of four trustees of a trust which separately files on Form 4 for the issuer. The Common Shares reported are held by reporting person
and his family members that have a pecuniary interest in such securities. Includes 693,620 Common Shares held by a family partnership of which reporting
person is a general partner.
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