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

Deutsche Telekom AG and its subsidiaries reported the sale of 128,852 shares of T-Mobile US, Inc. common stock over two days in September 2025, pursuant to a pre-arranged 10b5-1 trading plan.

Summary

• Deutsche Telekom AG and its wholly-owned subsidiaries, T-Mobile Global Holding GmbH, T-Mobile Global Zwischenholding GmbH, and Deutsche Telekom Holding B.V., collectively sold 128,852 shares of T-Mobile US, Inc. common stock.
• The sales occurred on September 22, 2025, and September 23, 2025.
• These transactions were executed under a Rule 10b5-1 trading plan adopted on June 12, 2025.
• The shares were sold at weighted average prices ranging from approximately $235.51 to $240.25 per share.
• Following these transactions, the reporting persons beneficially own 634,434,770 shares of T-Mobile US, Inc. common stock.
• The reporting persons are identified as Directors and 10% Owners of T-Mobile US, Inc.

Sentiment

Score: 5

Explanation: The filing reports a routine insider sale executed under a pre-arranged 10b5-1 plan, which is a neutral event. While it's a reduction in stake by a major owner, the planned nature mitigates negative sentiment.

Negatives

• A significant shareholder, Deutsche Telekom AG, reduced its stake in T-Mobile US, Inc. by 128,852 shares.

Future Outlook

NA

Management Comments

• Each Reporting Person may be deemed to be a director-by-deputization by virtue of the fact that each of Timotheus Hoettges, Chief Executive Officer of DT, Dr. Christian P. Illek, Board Member for Finance of DT, Raphael Kubler, Senior Vice President of the Corporate Operating Office of DT and Managing Director of Deutsche Telekom Holding B.V., Thorsten Langheim, Board Member for USA and Group Development of DT, and Dominique Leroy, Board Member for Europe of DT, serve on the board of directors of the Issuer.
• Each Reporting Person disclaims beneficial ownership in the securities reported on this Form 4 except to the extent of its pecuniary interest, if any, therein, and this report shall not be deemed to be an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

Industry Context

This is a routine insider transaction for a major telecommunications company, T-Mobile US, by its significant shareholder, Deutsche Telekom. Such planned sales are common for large institutional investors managing their portfolio exposure.

Related Party Transactions

• Deutsche Telekom AG and its wholly-owned subsidiaries (T-Mobile Global Holding GmbH, T-Mobile Global Zwischenholding GmbH, Deutsche Telekom Holding B.V.) are 10% owners and have directors serving on the Issuer's board, making these share sales related-party transactions.

Stakeholder Impact

• Shareholders may observe a slight reduction in the ownership stake of a major institutional investor, Deutsche Telekom AG, which could be interpreted in various ways depending on market sentiment, though the planned nature of the sale under a 10b5-1 plan suggests a routine portfolio adjustment.

Key Dates

Recommendation

The filing details a pre-scheduled sale of T-Mobile US shares by Deutsche Telekom AG and its subsidiaries under a 10b5-1 plan. This is a routine, planned transaction by a significant shareholder and does not indicate a change in the company's fundamental outlook or performance. Therefore, it provides no new information that would warrant a change from a 'hold' recommendation, assuming the investor's existing thesis remains intact.

Keywords

T-Mobile US, TMUS, Deutsche Telekom, Insider Sale, Form 4, 10b5-1 Plan, Share Sale, Telecommunications, Equity Transaction