Villacrez Vicki L 4

What Happened Vicki L. Villacrez, Executive Vice President, Chief Financial Officer and a director of Telephone & Data Systems, Inc. (TDS), received a grant of 13,476 restricted stock units (RSUs) on 2026-05-20. This was recorded on the Form 4 as an award/derivative grant (transaction code A); no per-share price or cash value is reported in the filing.

Key Details

• Transaction date: 2026-05-20 (Form 4 filed 2026-05-21 — filed promptly the next day).
• Transaction type/code: Award of RSUs (A); reported as a derivative acquisition (no price per share).
• Shares involved: 13,476 restricted stock units granted.
• Vesting: Footnote states one-third of the RSUs vest on each of the first, second and third anniversaries of the grant date (3-year annual vesting).
• Shares owned after transaction: Not specified in the provided filing excerpt.

Context RSU grants are a form of compensation/retention and do not represent immediately tradable common shares until they vest. Because these awards vest over three years, they are intended to align executive incentives with longer-term company performance; they are not an open-market purchase or sale signaling an immediate change in holdings. The filing appears timely (next-day submission).