February 19, 2024 · Form 4 insider transaction
CARLSON LEROY T JR bought 454,003 shares of Telephone and Data Systems, Inc. at $0.00 per share, a transaction worth N/A. The trade was recorded as grant or award and disclosed on an SEC Form 4, filed 2 days after the transaction.
On May 17, 2023, the reporting person was granted financial-based performance share units based on the performance of three key metrics. The payout could be increased to 160% of target or reduced to 0% on achievement of the key metrics. Based on company performance at December 31, 2023, the Compensation Human Resources Committee certified on February 19, 2024 two of the three metrics at 84.4%. The Performance Shares representing the two metrics were certified and are now adjusted for performance and are time-based and will vest on May 17, 2026. The final metric is measured over a three year time period and will not be measured until December 31, 2025. The performance share units have been accumulating quarterly dividend equivalents. Each performance share unit represents the contingent right to receive one common share.