CARLSON LEROY T JR 4

4 · TELEPHONE & DATA SYSTEMS INC /DE/ · Filed Jun 15, 2026

AI-generated summary of this filing

Updated Jun 15, 2026

TDS Vice Chair Leroy Carlson Receives 45,135 Shares (RSU Settlement)

What Happened

Leroy T. Carlson Jr., Vice Chair and Director of Telephone & Data Systems (TDS), had 45,135 restricted stock units settle on June 11, 2026. The shares are recorded at $40.03 each (total value ~$1,806,754). To cover tax withholding, 18,935 of those shares were surrendered (valued ~$757,968), leaving a net of 26,200 shares retained. A separate zero-share derivative line in the filing has no economic effect.

Key Details

Transaction date: 2026-06-11; filing date: 2026-06-15 (timely, within required period).
Settlement price: $40.03 per share.
Gross shares issued: 45,135 ( ~$1.81M ); shares withheld for taxes: 18,935 ( ~$758k ); net shares retained: 26,200.
Footnotes:
- F1: These were restricted stock units (RSUs) granted June 11, 2024; this represents the second annual vesting installment (one-third per year).
- F2: Shares were withheld to pay taxes.
- F3/F4: Reporting person holds substantial additional shares via dividend reinvestment and family entities (e.g., 312,242 via DRIP; 693,751 in a family partnership; plus 30,538 in DRIP — see filing for detail).
No indication of a 10b5-1 sale plan or a late filing.

Context

This was an RSU vesting/settlement (an award being converted to shares), not an open-market purchase or discretionary sale. The withholding of shares to pay taxes is a common cashless settlement practice and does not by itself indicate a bullish or bearish signal.

Form 4

Period: 2026-06-11

DirectorVice Chair

Transactions

Exercise/Conversion
Common Shares
[F1]
2026-06-11$40.03/sh+45,135$1,806,754→ 916,704 total
Tax Payment
Common Shares
[F2]
2026-06-11$40.03/sh−18,935$757,968→ 897,769 total
Exercise/Conversion
Restricted Stock Units
[F1]
2026-06-11−0→ 45,134 total
→ Common Shares (45,135 underlying)

Holdings

Footnotes (4)

[F1]Restricted stock units were awarded on June 11, 2024, pursuant to TDS' Long Term Incentive Plan. One-third of the restricted stock units will vest on the first, second and third annual anniversaries of the Grant Date. This transaction represents settlement of the second vesting. Each restricted stock unit ("RSU") represents the right to receive one common share.
[F2]Shares withheld to pay taxes.
[F3]Includes 312,242 Common Shares held through dividend reinvestment.
[F4]Reporting person is a member of a voting trust which is record owner of these Common Shares and which files its holdings on a form 4. The shares reported are held by respective reporting person and their family members that have a pecuniary interest in such securities. Includes 693,751 Common Shares held by a family partnership of which reporting person is a general partner, of which 23,754 has been accumulated in dividend reinvestment. Reporting person also holds 30,538 Common Shares in the dividend reinvestment plan.

Signature

John M. Toomey, by power of atty.|2026-06-15

1 file