# EDGAR Filing Document

**Accession Number:** 0000901731
**File Stem:** 0001120437-23-000027
**Filing Date:** 2023-2
**Character Count:** 8461
**Document Hash:** d8d93f6392606e829074d382c327be02
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001120437-23-000027.hdr.sgml**: 20230202

**ACCESSION NUMBER**: 0001120437-23-000027

**CONFORMED SUBMISSION TYPE**: 5

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230202

**DATE AS OF CHANGE**: 20230202

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** CARLSON LEROY T JR
- **CENTRAL INDEX KEY:** 0000901731

**FILING VALUES:**
- **FORM TYPE:** 5
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-14157
- **FILM NUMBER:** 23578857

**MAIL ADDRESS:**
- **STREET 1:** C/O TDS
- **STREET 2:** 30 N. LASALLE ST #4000
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60602
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TELEPHONE & DATA SYSTEMS INC /DE/
- **CENTRAL INDEX KEY:** 0001051512
- **STANDARD INDUSTRIAL CLASSIFICATION:** TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813]
- **IRS NUMBER:** 362669023
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 30 NORTH LASALLE STREET
- **STREET 2:** STE 4000
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60602
- **BUSINESS PHONE:** 3126301900

**MAIL ADDRESS:**
- **STREET 1:** 30 NORTH LASALLE STREET
- **STREET 2:** STE 4000
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60602

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

## FORM 5

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] 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**<sup>*</sup><br>CARLSON LEROY T JR<br><sub>(Last) (First) (Middle)</sub><br>30 N. LASALLE ST., STE. 4000<br><sub>(Street)</sub><br>CHICAGO, IL 60602<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2022-12-31 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [ ] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_President and CEO_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>TELEPHONE & DATA SYSTEMS INC /DE/ [ TDS ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Common Shares | 2022-10-16 |  | G |  | 10000 | D | $0 | 117029<sup>(1)</sup> | D |  |
| Common Shares | 2022-10-31 |  | G |  | 14000 | D | $0 | 103029 | D |  |
| Common Shares | 2022-12-06 |  | G |  | 103029 | D | $0 | 0<sup>(1)</sup> | D |  |
| Common Shares |  |  |  |  |  |  |  | 211758<sup>(2)</sup> | I | By Trust |
| Common |  |  |  |  |  |  |  | 78943<sup>(2)</sup> | I | By Trust |
| Common Shares | 2022-10-16 |  | G |  | 10000 | A | $0 | 10518 | I | By wife |
| Common Shares | 2022-11-07 |  | G |  | 2586 | D | $0 | 7932 | I | By wife |
| Common Shares | 2022-12-06 |  | G |  | 103029 | A | $0 | 110961 | I | By wife |
| Common Shares |  |  |  |  |  |  |  | 23493<sup>(3)</sup> | I | By 401(k) |
| Common Shares |  |  |  |  |  |  |  | 1759584<sup>(1)(4)</sup> | I | By Voting Trust |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| Series A Common Shares | <sup>(5)</sup> |  |  |  |  |  |  | <sup>(5)</sup> | <sup>(5)</sup> | Common Shares | 1918692.0 |  | 1918692<sup>(1)(6)</sup> | I | By Voting Trust |
| Deferred Compensation | <sup>(7)</sup> |  |  |  |  |  |  | <sup>(7)</sup> | <sup>(7)</sup> | Common Shares | 81757.0 |  | 81757<sup>(7)</sup> | D |  |
| Series A Common Shares | <sup>(5)</sup> |  |  |  |  |  |  | <sup>(5)</sup> | <sup>(5)</sup> | Common Shares | 11424.0 |  | 11424<sup>(2)</sup> | I | By Trust |
| Series A Common Shares | <sup>(5)</sup> |  |  |  |  |  |  | <sup>(5)</sup> | <sup>(5)</sup> | Common Shares | 11746.0 |  | 11746<sup>(2)</sup> | I | By Trust |
| Series A Common Shares | <sup>(5)</sup> |  |  |  |  |  |  | <sup>(5)</sup> | <sup>(5)</sup> | Common Shares | 297.0 |  | 297 | I | By Wife |

---

### Footnotes:

(1) Effective 12/31/22, reporting person is no longer including shares held by grown children no longer sharing his household in his ownership totals.

(2) Voluntary report of shares held in trust, the trustee of which is a third party and beneficiaries include reporting person's spouse and descendants

(3) The information is based on a plan statement dated 12/31/22.  The number of shares fluctuates and is attributable to the price of the shares on 12/31/22.

(4) Reporting person is one of four trustees of a trust which is also a reporting person. The shares reported are held by respective reporting person and his family members that have a pecuniary interest in such securities.  Includes 691,720 Common Shares  held by a family partnership of which reporting person is a general partner.

(5) Series A Common shares are convertible, on a share-for-share basis, into common shares.

(6) Reporting person is one of four trustees of a trust which is also a reporting person. The shares reported are held by respective reporting person and his family members that have a pecuniary interest in such securities. Includes 753,934 Series A Common Shares held by a family partnership of which reporting person is a general partner.

(7) Reporting person deferred bonuses pursuant to the TDS Long Term Incentive Plans.  Employer matches vest ratably at a rate of 33%, 33%, 34% over three years.  A total of 78,879 common share units were vested at 12/31/22.

**Signature:** Julie D. Mathews, by power of atty  
**Date:** 2023-02-02

### Remarks:

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.**