Villacrez Vicki L 4

What Happened

• Vicki L. Villacrez, Executive Vice President & CFO (and a director) of Telephone & Data Systems, converted performance-based awards and settled vested restricted stock units on May 17, 2026. She acquired 116,789 common shares at a valuation of $40.50 per share (total value ≈ $4,729,955).
• To cover tax and exercise obligations, 53,111 shares were withheld (disposed) at $40.50 per share, equal to ≈ $2,150,996 in value. The filing shows the awards/derivatives were converted/settled as part of the vesting/payment process.

Key Details

• Transaction date: May 17, 2026. Valuation price used: $40.50 per share (market was closed on vest date; prior close 5/15/2026 used).
• Shares acquired (net from awards/convert): 116,789 shares (86,956 + 29,833) valued ≈ $4,729,955.
• Shares withheld to satisfy taxes/exercise price: 53,111 shares (39,089 + 14,022) valued ≈ $2,150,996.
• Footnotes: F1 — performance share units granted May 17, 2023, certified for performance on Feb 25, 2026; F4 — RSUs awarded May 17, 2023, representing final vesting settlement; F3 — shares were withheld to pay taxes; F2 — prior trading day's close used for valuation because market was closed on vest date.
• Shares owned after the transaction: not specified in the provided filing excerpt.
• Filing date: May 19, 2026 (appears to be filed within the standard two-business-day window; no late filing indicated).

Context

• These entries reflect award settlement and conversion of derivative awards (performance share units and final RSU vesting), not open-market purchases or discretionary sales. The withholding of shares to cover taxes is a routine cashless settlement method and does not necessarily indicate a separate sale on the open market.
• For retail investors, award vesting and related withholding are common compensation mechanics and primarily reflect the planned payout of previously granted equity rather than a new trade decision.