Form 4: Telephone & Data Systems Inc. Executive James W. Butman Reports Stock Transactions
SEC Form 4
James W. Butman, a Director and President & CEO of a subsidiary of Telephone & Data Systems Inc., reports the vesting and subsequent tax withholding of shares related to restricted stock units.
Summary
- On May 17, 2025, James W. Butman settled 57,362 restricted stock units, acquiring 57,362 common shares.
- Simultaneously, 25,613 shares were disposed of at a price of $34.93 to cover tax obligations related to the vesting.
- On May 18, 2025, Butman settled 45,498 restricted stock units, acquiring 45,498 common shares.
- Additionally, 20,315 shares were disposed of at a price of $34.93 to cover tax obligations related to the vesting.
- Following these transactions, Butman directly owns 291,098 common shares.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions by an executive, with no inherent positive or negative sentiment.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units that vest over time, aligning executive interests with long-term shareholder value.
- Tax withholding practices on vesting shares are standard across publicly traded companies to ensure compliance with tax regulations.
- Similar filings can be observed for executives at comparable companies like Verizon (VZ) and AT&T (T) when they receive or dispose of company stock.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect standard executive compensation practices.
- Employees may be indirectly affected through the company's overall financial performance and executive alignment with company goals.
Key Dates
| Date | Description |
|---|---|
| 05/17/2023 | Restricted stock units were awarded pursuant to the 2022 Long Term Incentive Plan. |
| 05/16/2025 | Previous trading day's close used to value the transaction as the market was closed on the vest date. |
| 05/17/2025 | Settlement of restricted stock units and withholding of shares for taxes. |
| 05/18/2025 | Restricted stock units vested and shares withheld to pay taxes. |
| 05/20/2025 | Date of Form 4 signature by Julie D. Mathews, by power of attorney. |
Keywords
Form 4, Beneficial Ownership, Restricted Stock Units, Common Shares, TDS, Telephone & Data Systems Inc., Butman James W, Vesting, Tax Withholding
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