Company: UZF
Filing Date: 2025-01-15
Form Type: 8-K
Source: 0000821130-25-000009
Chunk: 0

Company: ARRAY DIGITAL INFRASTRUCTURE, INC.
Filing Date: 2025-01-15
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

This Current Report on Form 8-K is being filed by United States Cellular Corporation (UScellular) to describe and file as an Exhibit the UScellular 2025 Annual Incentive Plan (the 2025 Plan) with respect to "named executive officers" of UScellular as specified in paragraph (e) of Item 5.02 of Form 8-K.

As of January 13, 2025, the 2025 Plan was approved both by UScellular’s Chair and by UScellular’s President and Chief Executive Officer (CEO). T he 2025 Plan covers all UScellular officers, including the President and CEO. The UScellular Chair does not participate in the 2025 Plan.

The purpose of the 2025 Plan is to motivate and reward associates for performance that drives achievement of UScellular's business goals.

The Plan has the following two performance components for officers:

  Plan Component              Component Weighting  
  Company Performance         80% (1)              
  Individual Performance      20%                  

(1) 70% weighted on UScellular company performance as measured against financial metrics and 10% weighted on the UScellular Chair's assessment of UScellular's performance.

The Plan company performance is measured by performance against the following financial metrics with the following weightings:

  Company Performance Metric               Metric Weighting  
  Consolidated Total Service Revenues                   30%  
  Consolidated Operating Cash Flow                      40%  
  Consolidated Capital Expenditures                     10%  
  Postpaid Handset Net Additions                        20%  

Under the provisions of the 2025 Plan, no bonus is due unless an officer remains employed through the bonus payout date except that an officer who separates due to retirement or death is eligible for a pro-rated bonus. The President and CEO may approve a bonus, or a pro-rated bonus, for an officer who is not employed through the bonus payout date.

The foregoing description is qualified by reference to the 2025 Plan which is attached hereto as Exhibit 10.1 and incorporated by reference herein.

Item 9.01. Financial Statements and Exhibits