Form 4: Deutsche Telekom Sells TMUS Shares Under 10b5-1 Plan

Deutsche Telekom AG and its subsidiaries sold 139,680 shares of T-Mobile US common stock in early July 2025, pursuant to a pre-arranged 10b5-1 trading plan.

Summary

• Deutsche Telekom AG, along with its wholly-owned subsidiaries T-Mobile Global Holding GmbH, T-Mobile Global Zwischenholding GmbH, and Deutsche Telekom Holding B.V., reported sales of T-Mobile US, Inc. (TMUS) common stock.
• A total of 139,680 shares were sold across multiple transactions on July 7 and July 8, 2025.
• The sales were executed at weighted average prices ranging from $234.325 to $239.7112 per share.
• The transactions were conducted under a Rule 10b5-1 trading plan adopted on March 13, 2025.
• Following these transactions, the reporting persons collectively beneficially own 647,591,004 shares of T-Mobile US common stock.
• The total value of the shares sold is approximately $33.07 million based on the weighted average prices.

Sentiment

Score: 5

Explanation: The sentiment is neutral. While a major shareholder selling shares could be perceived negatively, the fact that these sales were conducted under a pre-arranged 10b5-1 plan mitigates any negative implications, suggesting a planned portfolio adjustment rather than a reaction to adverse company-specific news.

Positives

• The sales were conducted under a pre-arranged 10b5-1 trading plan, indicating a systematic and non-discretionary divestment strategy rather than a reaction to immediate market conditions.

Negatives

• A significant shareholder, Deutsche Telekom AG, reduced its direct beneficial ownership in T-Mobile US by 139,680 shares.

Future Outlook

The filing does not contain specific forward-looking statements or guidance regarding T-Mobile US's future performance or strategic direction. It primarily reports past transactions by a major shareholder.

Management Comments

• The reporting persons disclaim beneficial ownership in the securities reported on this Form 4 except to the extent of their pecuniary interest, if any, therein.
• Deutsche Telekom disclaims beneficial ownership in any Common Stock held by Project 6 or Project 9 if such Common Stock is not subject to the Proxy Agreement.

Industry Context

This filing reflects a routine, pre-planned adjustment in the equity holdings of a major strategic investor (Deutsche Telekom) in a leading U.S. wireless carrier (T-Mobile US). Such planned sales are common for large institutional holders managing their portfolio exposure and do not necessarily indicate a change in the company's fundamental outlook or broader industry trends.

Stakeholder Impact

• Shareholders: The sale represents a minor reduction in the overall holdings of a significant institutional investor, which is unlikely to have a material impact on the company's stock price or long-term strategy, especially given the pre-planned nature of the transactions.
• Employees, Customers, Suppliers, Creditors: No direct impact is indicated by this filing.

Key Dates

Keywords

Deutsche Telekom, T-Mobile US, TMUS, Form 4, Insider Sale, 10b5-1 Plan, Equity Sales, Telecommunications, Wireless Carrier