Form 4: United States Cellular Corp Executive Kevin Lowell Reports Vesting of Restricted and Performance Stock Units

EVP and Chief People Officer of United States Cellular Corp, Kevin Lowell, reports the vesting of restricted stock units (RSUs) and performance stock units (PSUs) on April 5, 2024.

Summary

• On April 5, 2024, Kevin Lowell, EVP and Chief People Officer of United States Cellular Corp, reported transactions involving common shares.
• These transactions include the vesting of 8,689 Restricted Stock Units (RSUs) and 7,821 Performance Stock Units (PSUs) granted on April 5, 2021, under the company's Long-Term Incentive Plan.
• The vesting of RSUs occurred on the third anniversary of the grant date.
• The PSUs were adjusted based on company performance and certified by the Long-Term Incentive Compensation Committee on February 14, 2024, before becoming time-based.
• Additionally, 5,173 shares were withheld to cover taxes related to the vesting of the RSUs and PSUs at a price of $35.5 per share.
• Following these transactions, Lowell directly owns 37,597 common shares of United States Cellular Corp.

Sentiment

Score: 5

Explanation: This is a neutral disclosure of stock vesting, a routine part of executive compensation. It doesn't inherently indicate positive or negative sentiment.

Positives

• The vesting of RSUs and PSUs indicates that the executive is meeting the requirements of their compensation plan.
• The vesting of PSUs suggests that the company has met certain performance targets, as the PSUs were adjusted based on company performance.

Negatives

• The withholding of 5,173 shares to cover taxes reduces the number of shares the executive ultimately receives.

Industry Context

This filing is a routine disclosure related to executive compensation and is typical for publicly traded companies. It provides transparency into the equity-based compensation of key executives.

Stakeholder Impact

• The vesting of stock units aligns the executive's interests with those of the shareholders, as the value of the units is tied to the company's stock performance.

Key Dates