CARLSON WALTER CD 4

What Happened

• Walter Carlson, President and CEO (also a director) of Telephone & Data Systems, was granted 31,731 restricted stock units (RSUs) on May 20, 2026. The award is reported as an "A" (award/grant) on the Form 4; no per-share price or total dollar value is listed in the filing (N/A).
• This is a compensation award, not an open-market purchase or sale, so it reflects long-term incentive pay rather than an immediate insider buy or sell.

Key Details

• Transaction date: 2026-05-20; Form filed: 2026-05-21 (timely).
• Shares/units granted: 31,731 restricted stock units (derivative instrument); price reported as N/A.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnote: RSUs awarded under TDS' Long Term Incentive Plan. One-third of the RSUs vest on each of the first, second and third anniversaries of the grant date.
• No 10b5-1 plan, tax-withholding, or immediate sale indicated in the filing excerpt.

Context

• RSUs are a form of deferred compensation that convert into company shares (or cash) upon vesting; these units generally cannot be sold until they vest. Because this is an award, it is a routine executive compensation action and should not be interpreted as a direct bullish or bearish personal trade by the insider.