Hanley Joseph R 4

What Happened

• Joseph R. Hanley, SVP — Strategy & Corporate Development at Telephone & Data Systems, received 3,265 shares upon settlement of vested restricted stock units (RSUs) on May 21, 2026. The gross value shown for the settlement was $134,518 (3,265 shares × $41.20).
• To cover tax withholding, 1,447 shares were withheld (disposed) with a value of $59,616, leaving a net receipt of 1,818 shares valued at about $74,902. This was an RSU vesting/settlement (award conversion), not an open-market purchase or speculative sale.

Key Details

• Transaction date: May 21, 2026. Price used for valuation: $41.20 per share.
• Gross shares settled (conversion of derivative/RSUs): 3,265 shares; Shares withheld for taxes: 1,447; Net shares retained: 1,818.
• Gross settlement value: $134,518; Tax-withheld value: $59,616; Net value retained: ~$74,902.
• Footnotes: F1 — These RSUs were granted May 21, 2025 under TDS’ Long Term Incentive Plan and vested under a 1/3 annual schedule; this transaction represents the first anniversary vesting. F2 — Shares were withheld to pay taxes.
• Filing: Report filed May 26, 2026 for a May 21, 2026 transaction (filed 5 days after the transaction), which appears later than the usual two-business-day Form 4 filing window.

Context

• This was a routine equity award settlement (RSU vesting). The withholding of shares to cover taxes is standard and does not represent an open-market sale; it’s a tax-satisfaction disposition.
• For retail investors, award settlements like this are informational about compensation and insider ownership changes but do not necessarily signal a change in insider sentiment about the stock.