What does it mean that Anita J. Kroll’s TDS units were granted at $0.00 per share?

A $0.00 per share grant price means Anita J. Kroll pays no cash to receive the restricted stock units. They are compensation provided by TDS under its Long Term Incentive Plan and convert into common shares as vesting conditions are satisfied over time.

TDS (TDS) VP Anita Kroll granted 3,654 restricted stock units as equity pay

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Telephone & Data Systems reported that VP, Controller & CAO Anita J. Kroll received a grant of 3,654 restricted stock units as equity compensation. These units convert into an equal number of common shares. One-third of the units will vest on each of the first, second, and third anniversaries of the grant date, encouraging multi-year retention and alignment with shareholders.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Kroll Anita J

Role VP, Controller & CAO

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	3,654	$0.00	--

Holdings After Transaction: Restricted Stock Units — 3,654 shares (Direct, null)

Footnotes (1)

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Key Figures

RSU grant size: 3,654 units Grant price: $0.00 per unit Underlying common shares: 3,654 shares +1 more

4 metrics

RSU grant size 3,654 units Restricted stock units granted to Anita J. Kroll

Grant price $0.00 per unit Compensation grant under Long Term Incentive Plan

Underlying common shares 3,654 shares Common shares underlying granted restricted stock units

Holdings after grant 3,654 units Total restricted stock units following this transaction

Key Terms

Restricted Stock Units, Long Term Incentive Plan, vest

3 terms

Restricted Stock Units financial

"Restricted Stock Units awarded pursuant to TDS' Long Term Incentive Plan."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

Long Term Incentive Plan financial

"Restricted stock units awarded pursuant to TDS' Long Term Incentive Plan."

A long term incentive plan is a company program that awards executives and key employees bonuses—often in stock, options, or cash—only if the business meets multi-year performance goals. It links management pay to company results—like tying a coach’s bonus to a team’s multi-season record—so investors monitor it for how leaders are motivated, potential share dilution, and signals about the company’s long-term priorities.

vest financial

"One-third of the restricted stock units will vest on the first, second and third annual anniversaries of the Grant Date."

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

Form 4 Insider Transactions: What Each Field Means →

05/21/2026 - 06:37 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Kroll Anita J

(Last)

(First)

(Middle)

30 N. LASALLE STREET, SUITE 4000

(Street)

CHICAGO

ILLINOIS

60602

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
TELEPHONE & DATA SYSTEMS INC /DE/ [ TDS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	VP, Controller & CAO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/20/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Units	⁽¹⁾	05/20/2026		A		3,654		⁽¹⁾	⁽¹⁾	Common Shares	3,654	⁽¹⁾	3,654	D

Explanation of Responses:

1. Restricted stock units awarded pursuant to TDS' Long Term Incentive Plan. One-third of the restricted stock units will vest on the first, second and third annual anniversaries of the Grant Date.

Remarks:

	John M. Toomey, by power of atty.	05/21/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did TDS executive Anita J. Kroll report in this Form 4 filing?

Anita J. Kroll reported receiving 3,654 restricted stock units from Telephone & Data Systems. These equity awards are part of her compensation and will convert into common shares as they vest over three years, aligning her interests with long-term company performance.

How many restricted stock units did TDS grant to Anita J. Kroll?

TDS granted Anita J. Kroll 3,654 restricted stock units. Each unit represents a right to receive one common share in the future, subject to vesting conditions tied to specific anniversaries of the grant date over a three-year period.

What is the vesting schedule of Anita J. Kroll’s TDS restricted stock units?

The 3,654 restricted stock units vest in three equal annual installments. One-third vests on the first anniversary of the grant date, another third on the second anniversary, and the final third on the third anniversary, promoting ongoing executive retention.

Did Anita J. Kroll buy or sell TDS shares in this Form 4?

No open-market buy or sell occurred in this Form 4. Anita J. Kroll reported an equity award of 3,654 restricted stock units granted at no cash cost, reflecting compensation rather than a discretionary market transaction in Telephone & Data Systems stock.

How many TDS restricted stock units does Anita J. Kroll hold after this transaction?

After this transaction, Anita J. Kroll holds 3,654 restricted stock units. These represent her total reported RSU position in this filing and will settle into an equal number of Telephone & Data Systems common shares as they vest over three annual anniversaries.