Carlson Prudence E 4

What Happened
Prudence E. Carlson, a director of Telephone & Data Systems, Inc. (TDS), disposed of 5,811 common shares in an open-market/private sale on March 23, 2026. The shares were sold at $42.00 each for total proceeds of $244,062. This was a sale (not a purchase), which is often routine and less indicative of bullish sentiment than an insider buy.

Key Details

• Transaction date and price: 2026-03-23, sold 5,811 shares at $42.00 per share (total $244,062). Transaction code: S (sale).
• Plan/authorization: Sale executed pursuant to a Rule 10b5-1 trading plan (pre-arranged plan).
• Holdings after transaction: The filing does not state a single post-sale total; footnotes say the reporting person and family hold substantial positions that include 57,329 shares accumulated via dividend reinvestment and 693,728 shares held by a family partnership (reporting person is a general partner). The reporting person is also one of four trustees of a voting trust that is the record owner of certain common shares.
• Filing timeliness: Report filed March 24, 2026 (one day after the trade), which is timely under Form 4 reporting rules.

Context
A 10b5-1 plan means the sale was pre-planned and likely scheduled in advance rather than timed to recent company developments. The disclosed sale amount (~$244k) is small relative to the sizable family/partnership holdings noted in the footnotes, so this single sale alone provides limited information about the insider’s view of the company.