Company: UZF
Filing Date: 2025-07-25
Form Type: 8-K
Source: 0000821130-25-000042
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Company: ARRAY DIGITAL INFRASTRUCTURE, INC.
Filing Date: 2025-07-25
Form: 8-K
Item: Item 5.02
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Item 5.02.

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

OnJuly 24, 2025, the board of directors (Board) of United States Cellular Corporation (UScellular) appointed Douglas W. Chambers as interim President and Chief Executive Officer contingent and effective upon the closing (the Closing) of the transactions contemplated by that certain Securities Purchase Agreement by and among Telephone and Data Systems, Inc. (TDS), UScellular, T-Mobile US, Inc. and USCC Wireless Holdings, LLC dated as of May 24, 2024. Laurent C. Therivel will cease to be President and Chief Executive Officer of UScellular and will separate from UScellular if and when Mr. Chambers’ appointment becomes effective.

Mr. Chambers, age 56, joined UScellular from TDS in 2018 and has served as UScellular’s Executive Vice President, Chief Financial Officer and Treasurer since September 2020, and immediately prior to that he was UScellular’s Senior Vice President, Chief Financial Officer and Treasurer. In this role, Mr. Chambers is responsible for UScellular’s accounting and financial reporting, revenue assurance, financial planning and analysis, credit and collections, treasury, real estate, and supply chain activities.

In connection with his appointment as President and Chief Executive Officer of UScellular, Mr. Chambers and UScellular entered into an Equity Acceleration Agreement (the Equity Acceleration Agreement) on July 24, 2025, pursuant to which, subject to his continued employment through the date on which the Closing occurs, Mr. Chambers’ outstanding equity awards will vest in full immediately following the Closing, based on target performance with respect to Mr. Chambers’ performance-based awards granted in 2025, and be settled within 60 days thereafter. If Mr. Chambers voluntarily resigns his employment with UScellular and its affiliates other than for “ Good Reason” (as defined in the United States Cellular Corporation Long-Term Incentive Plan) prior to January 1, 2026 (or such earlier date specified by UScellular as Mr. Chambers’ termination date) (the Retention Date), or if he fails to satisfactorily meet performance expectations through the Retention Date, then Mr. Chambers will be required to pay to UScellular a cash amount equal to the fair market value of the shares that were subject to the portions of his equity awards that vested pursuant to the