Form 4: United States Cellular Corp CEO Receives Stock and Performance Share Units

Laurent C. Therivel, President and CEO of United States Cellular Corp, was granted restricted stock units and performance share units on March 3, 2025.

Summary

• On March 3, 2025, Laurent C. Therivel, the President and CEO of United States Cellular Corp, received an award of 39,267 restricted stock units under the company's Long-Term Incentive Plan.
• These restricted stock units will vest in equal installments on the first, second, and third anniversaries of the grant date.
• Therivel also received 29,450 performance share units, representing 75% of the target opportunity as of the grant date, based on the achievement of certain performance measures.
• The actual amount of performance shares may be adjusted upwards based on the final determination of the performance measures, which will be reported in a subsequent Form 4 filing.

Sentiment

Score: 7

Explanation: The document indicates standard executive compensation practices, which is generally viewed neutrally to positively as it aligns management incentives with shareholder value.

Positives

• The grant of restricted stock units and performance share units aligns the CEO's interests with those of the shareholders.
• The vesting schedule of the restricted stock units encourages long-term commitment from the CEO.
• The performance-based nature of the performance share units incentivizes the CEO to achieve specific performance targets.

Future Outlook

The actual amount of performance shares may be adjusted upwards based on the final determination of the performance measures, which will be reported in a subsequent Form 4 filing.

Industry Context

Executive compensation packages often include a mix of salary, stock options, restricted stock units, and performance-based incentives to attract and retain top talent and align their interests with those of the shareholders.

Stakeholder Impact

• Shareholders: The grant of equity-based compensation aligns the CEO's interests with those of the shareholders, incentivizing value creation.
• Employees: The Long-Term Incentive Plan, under which the restricted stock units were awarded, may also apply to other employees, potentially boosting morale and retention.

Next Steps

• The reporting person will file a Form 4 at such time to report the additional award above 75% of the target opportunity if the actual amount of performance shares is determined to be greater than 75% of the target opportunity based on the final determination of the performance measures.

Key Dates