Form 4: TDS Executive Joseph R. Hanley Reports Stock Transactions

Joseph R. Hanley, SVP-Strategy & Corp Dev at Telephone & Data Systems Inc., reported transactions involving performance share units and restricted stock units.

Summary

• Joseph R. Hanley, SVP-Strategy & Corp Dev at Telephone & Data Systems Inc., reported transactions on May 17, 2026.
• These transactions involved the acquisition of 58,191 performance share units and 19,966 restricted stock units.
• The performance share units were granted on May 17, 2023, and vested after a three-year period, with dividend equivalents accumulating quarterly.
• The third and final metric for performance share units was certified on February 25, 2026, adjusting shares for performance and time-based vesting.
• Restricted stock units were awarded on May 17, 2023, under the 2022 Long Term Incentive Plan, with one-third vesting annually over three years.
• The reported transaction represents the settlement of the third and final vesting of these restricted stock units.
• Shares totaling 23,122 and 8,845 were withheld to cover taxes on May 17, 2026.
• The valuation for these transactions used the previous trading day's close of $40.5 on May 15, 2026, as the market was closed on the vest date.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it primarily reports on routine executive stock transactions and vesting events without indicating significant positive or negative developments for the company.

Positives

• Vesting of performance share units and restricted stock units indicates achievement of performance and time-based goals.
• The accumulation of dividend equivalents on performance share units suggests a return on these awards.
• The settlement of the final vesting tranches for both performance share units and restricted stock units signifies the completion of award cycles.

Negatives

• A significant number of shares (23,122 + 8,845 = 31,967) were withheld to pay taxes, reducing the net shares received by the reporting person.
• The valuation of the transaction was based on the previous day's closing price due to a market holiday, which could differ from the actual market value on the vest date.

Future Outlook

This filing does not contain forward-looking statements or guidance regarding future financial performance or strategic direction.

Industry Context

StockSavvy.ai notes that Form 4 filings are standard disclosures for executives and directors regarding their company's stock transactions, providing transparency into insider activity. The details of performance share units and restricted stock units reflect common executive compensation structures in the telecommunications and data services industry.

Corporate Governance

Stakeholder Impact

• Shareholders: Increased transparency into insider stock transactions.
• Employees: The vesting of awards for an executive may reflect company performance, potentially aligning with broader employee incentives.
• Management: Demonstrates adherence to regulatory disclosure requirements.

Next Steps

• The reporting person will continue to hold beneficial ownership of Telephone & Data Systems Inc. common shares.
• Future transactions by Joseph R. Hanley will be subject to further Form 4 filings if they occur.

Key Dates

Keywords

Form 4, SEC Filing, Insider Trading, Stock Options, Restricted Stock Units, Performance Share Units, Telephone & Data Systems Inc., TDS, Executive Compensation, Beneficial Ownership