Form 4: TDS President and CEO Carlson Jr. Reports Stock Transactions Following RSU Vesting

Leroy T. Carlson Jr., President and CEO of Telephone & Data Systems Inc., reports acquisition and disposal of common shares and Series A common shares related to restricted stock unit vesting and tax withholding.

Summary

• Leroy T. Carlson Jr., President and CEO of Telephone & Data Systems Inc. (TDS), filed a Form 4 detailing changes in beneficial ownership.
• The transactions primarily involve the vesting of restricted stock units (RSUs) and the subsequent withholding of shares to cover tax obligations.
• On May 17, 2024, 163,146 common shares were acquired through RSU vesting, with an equal number of RSUs settled.
• 72,274 shares were disposed of on May 17, 2024, at a price of $20.80 to cover taxes related to the RSU vesting.
• On May 19, 2024, 136,827 common shares were acquired through RSU vesting, with an equal number of RSUs settled.
• 57,399 shares were disposed of on May 19, 2024, at a price of $20.80 to cover taxes related to the RSU vesting.
• Additional transactions on April 16, 2024, involved the acquisition of 78,756.3674 common shares and 18,064.7053 Series A common shares, and 47,993.9516 common shares and 53,730.2128 Series A common shares.
• Carlson Jr. also indirectly owns shares through a voting trust, his wife, and other trusts.
• As of the latest transactions, Carlson Jr. directly owns 393,056 common shares and indirectly owns a significant number of common shares and Series A common shares through various entities.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment, as it simply reports factual information.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders and their holdings in the company's stock.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the increased number of shares in the market from RSU vesting, offset by the shares withheld for taxes.

Key Dates