Form 4: TDS Executive James Butman Reports Stock Transactions Following RSU Vesting

James W. Butman, President & CEO of a subsidiary of Telephone & Data Systems Inc, reports the vesting and subsequent transactions of restricted stock units (RSUs).

Summary

• On May 17, 2024, James W. Butman, President & CEO of a subsidiary of Telephone & Data Systems Inc, had 57,362 restricted stock units (RSUs) vest, which were awarded on May 17, 2023, under the 2022 Long Term Incentive Plan.
• These RSUs represent the right to receive one common share of the Issuer upon vesting.
• Following the vesting, Butman acquired 57,362 common shares.
• Additionally, 22,869 shares were withheld to cover taxes at a price of $20.8 per share, resulting in a decrease in direct holdings.
• On May 19, 2024, 32,961 restricted stock units vested, awarded under the 2020 Long Term Incentive Plan, resulting in the acquisition of 32,961 common shares.
• 14,718 shares were withheld to cover taxes at a price of $20.8 per share, further decreasing direct holdings.
• After these transactions, Butman directly owns 188,998 common shares.

Sentiment

Score: 5

Explanation: This is a routine regulatory filing related to executive compensation. It doesn't indicate any significant positive or negative sentiment.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates the vesting of previously granted equity compensation.

Comparison to Industry Standards

• Equity compensation is a standard practice across the telecommunications industry to align management's interests with those of shareholders.
• Companies like Verizon and AT&T also utilize restricted stock units as part of their executive compensation packages.
• The vesting schedules and terms of these RSUs are generally comparable to industry norms.

Stakeholder Impact

• The vesting of RSUs and subsequent tax withholding have a minor dilutive effect on existing shareholders.
• The transactions reflect the compensation structure for the company's executives.

Key Dates