CARLSON LEROY T JR 4

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.