Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-09-18

Telephone & Data Systems (TDS)

Telephone & Data Systems's highest-paid named officer for fiscal year 2025, Former President and CEO of Array Laurent Therivel, was paid $9,313,033 (SEC filing 0001051512-26-000024 ↗): executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$9,313,033
Laurent Therivel total, FY2025
—
CEO pay percentile vs peers
—
CEO-to-median pay ratio
94.7%
Say-on-pay support, latest vote

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TDS's next annual pay disclosure, estimated April 7, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Laurent Therivel$590,698$0$7,076,400$0$653,230$284$992,421$9,313,033
Former President and CEO of Array
James Butman444,08102,595,2890343,71010,9212,094,3795,488,380
Former President and CEO of TDS Telecom
Walter Carlson735,579939,9003,084,3250007,7404,767,544
President and CEO of TDS
Kenneth Dixon392,308110,3003,209,3670269,0000131,6674,112,642
President and CEO of TDS Telecom
Vicki Villacrez689,730625,8001,594,1630385,70080792,9283,389,128
Executive Vice President and Chief Financial Officer of TDS
Joseph Hanley548,127347,000981,0360219,000738102,0912,197,992
Senior Vice President, Strategy and Corporate Development of TDS

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Laurent Therivel$9,313,033$7,656,948$10,860,109↑ +1,656,085
James Butman5,488,3803,729,1353,344,427↑ +1,759,245
Walter Carlson4,767,544———
Kenneth Dixon4,112,642———
Vicki Villacrez3,389,1282,546,8271,990,192↑ +842,301
Joseph Hanley2,197,9921,668,3581,542,671↑ +529,634

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

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Companies that benchmark against TDS
1 company names TDS as a compensation peer

Each company listed discloses TDS in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named TDS in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01c

Board of directors

One page per director: the seat, the committees and the fee table, read for one person at a time.

DirectorRoleFY2025 total
Christopher D. O'LearyLead Independent Director$312,936
Dirk S. WoessnerIndependent Director$251,641
George W. OffIndependent Director$273,136
Kimberly D. DixonIndependent Director$282,736
LeRoy T. Carlson JrIndependent Director$231,136
Letitia G. Carlson, M.DDirector$231,136
Napoleon B. Rutledge JrIndependent Director$190,930
Prudence E. CarlsonIndependent Director$231,136
Wade OostermanIndependent Director$274,886
02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Vicki VillacrezPSU2025-02-21————$489,798
James ButmanPSU2025-05-213,51828,147—42,221954,746
James ButmanPSU2025-02-21————685,709
Anthony J. M. CarlsonRSU2025-03-07——351—22,847
Anthony J. M. CarlsonPSU2025-02-19————19,058
LeRoy T. Carlson Jr.PSU2025-05-215,30722,111—37,146750,005
LeRoy T. Carlson Jr.RSU2025-05-21——14,883—500,099
Kenneth S. DixonRSU2025-06-09——63,955—2,224,994
Joseph HanleyPSU2025-05-212,3289,702—16,299329,092
Laurent TherivelPSU2025-02-19————1,140,134
Vicki VillacrezPSU2025-05-213,90716,278—27,347552,150
Anthony J. M. CarlsonPSU2025-05-211721,376—2,06446,674
LeRoy T. Carlson Jr.RSU2025-03-07——1,170—41,433
LeRoy T. Carlson Jr.PSU2025-02-21————4,261,503
Walter C. D. CarlsonPSU2025-05-2112,73653,066—89,1511,799,999
Walter C. D. CarlsonRSU2025-05-21——35,715—1,200,095
Kenneth S. DixonPSU2025-06-091,72913,833—20,750492,178
Joseph HanleyRSU2025-05-21——9,795—329,132
Kenneth S. DixonRSU2025-06-09——13,959—492,195
Joseph HanleyPSU2025-02-21————322,812
James ButmanRSU2025-05-21——28,416—954,834
Anthony J. M. CarlsonRSU2025-05-21——2,085—70,060
Anthony J. M. CarlsonPSU2025-02-19————19,459
Laurent TherivelPSU2025-03-0329,45039,266—68,7162,576,242
Vicki VillacrezRSU2025-05-21——16,434—552,215
Laurent TherivelPSU2025-02-19————783,716
Laurent TherivelRSU2025-03-03——39,267—2,576,308
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Vicki Villacrez$552,215$1,041,948$065.4%
James Butman954,8341,640,455063.2%
Anthony J. M. Carlson92,90785,191047.8%
LeRoy T. Carlson Jr.541,5325,011,508090.2%
Kenneth S. Dixon2,717,189492,178015.3%
Joseph Hanley329,132651,904066.5%
Laurent Therivel2,576,3084,500,092063.6%
Walter C. D. Carlson1,200,0951,799,999060.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
DixonRSU63,955—$2,622,155
DixonRSU10,421—427,261
CarlsonRSU73,761—3,024,201
CarlsonRSU163,146—6,688,986
Joseph HanleyRSU19,966—818,606
CarlsonRSU90,269—3,701,029
CarlsonRSU173,536—7,114,976
James ButmanRSU34,662—1,421,142
James ButmanRSU57,362—2,351,842
Vicki VillacrezRSU11,669—478,429
CarlsonRSU1,170—62,735
Vicki VillacrezRSU191,216—7,839,856
Joseph HanleyRSU6,954—285,114
CarlsonRSU14,883—610,203
Vicki VillacrezRSU26,066—1,068,706
CarlsonRSU35,715—1,464,315
CarlsonPSU4,435—181,835
CarlsonRSU215,114—8,819,674
Vicki VillacrezPSU3,266—133,906
CarlsonRSU1,708—91,583
CarlsonPSU39,934—1,637,294
CarlsonRSU1,016—54,478
James ButmanRSU69,084—2,832,444
Joseph HanleyOption12,42319.15—
James ButmanRSU14,283—585,603
CarlsonRSU712,667—29,219,347
CarlsonOption77,10019.15—
DixonRSU88,335—3,621,735
Vicki VillacrezRSU29,833—1,223,153
CarlsonRSU9,813—486,786
Joseph HanleyPSU3,576—146,616
Joseph HanleyRSU12,124—497,084
James ButmanRSU175,391—7,191,031
Joseph HanleyRSU20,171—827,011
Vicki VillacrezRSU86,874—3,561,834
Vicki VillacrezPSU5,998—245,918
Joseph HanleyRSU58,136—2,383,576
CarlsonRSU38,046—1,559,886
Joseph HanleyPSU1,946—79,786
Vicki VillacrezRSU20,340—833,940
CarlsonRSU1,632—66,925
Vicki VillacrezRSU16,434—673,794
DixonRSU13,959—572,319
CarlsonRSU2,085—85,485
CarlsonOption104,39025.36—
CarlsonRSU15,851—649,891
Joseph HanleyRSU15,534—636,894
CarlsonPSU10,646—436,486
Joseph HanleyRSU9,795—401,595
Vicki VillacrezPSU9,264—379,824
CarlsonRSU1,036—42,476
CarlsonRSU2,419—129,707
CarlsonRSU379—20,322
CarlsonOption33,62430.72—
Joseph HanleyOption7,74825.36—
05

Incentive-plan design — the Compensation Discussion & Analysis

TDS' compensation programs are designed to reward performance on both a short-term and long-term basis and to align management's interest with that of shareholders. The objectives are to support TDS' overall business strategy, attract and retain high-quality leadership, link individual compensation with attainment of individual and business unit objectives, and provide competitive compensation consistent with financial performance.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantCompensation Strategies, Inc.
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-21118,794,7136,649,586283,39894.7%Passed
20252025-05-22111,460,4768,780,750926,08892.7%Passed
20232023-05-18115,575,4827,482,880114,74993.92%Passed
20222022-05-19122,905,8421,261,62881,39098.98%Passed
20212021-05-20118,352,7332,098,327157,13298.26%Passed
20202020-05-21119,523,3041,237,893174,91998.97%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-05-2194.7%a
20252025-05-2292.7%b
20232023-05-1893.92%c

a. Voting standard not stated in the filing.

b. Voting standard not stated in the filing.

c. Approved under the standard stated in the filing — “Will have the same effect as a vote against”.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Christopher D. O'LearyIndependent · Lead Independent Director · Audit · Compensation and Human Resources · Corporate Governance and Nominating Committee · Technology Advisory Group$192,800$120,029——$107$312,936
Kimberly D. DixonIndependent162,600120,029——107282,736
Kenneth S. DixonEmployee director · Newly elected162,600120,029——107282,736
Wade OostermanIndependent154,750120,029——107274,886
George W. OffIndependent · Audit (Chair)153,000120,029——107273,136
Dirk S. WoessnerIndependent · Compensation and Human Resources131,500120,034——107251,641
Prudence E. CarlsonIndependent · CGNC · TAG (Chair)111,000120,029——107231,136
LeRoy T. Carlson JrIndependent · Corporate Governance and Nominating Committee · Technology Advisory Group Committee (Chair)111,000120,029——107231,136
Letitia G. Carlson, M.DNot independent111,000120,029——107231,136
Napoleon B. Rutledge JrIndependent · Audit · Technology Advisory Group134,25056,564——116190,930
Walter C. D. CarlsonEmployee director · Board Chair · CGNC (Chair)13,82083,865——10797,792
Vicki L. VillacrezEmployee director—————0
09

Board fee structure and ownership guideline

Annual cash retainer$110,000
Annual equity retainer$120,000
Per board meeting fee$1,750
Committee chair fees (audit / comp / nom-gov)22,000 / 20,000 / 10,000
Stock ownership guidelinethey are subject to the stock ownership guidelines applicable to directors. See "Corporate Governance—Stock Ownership Guidelines"
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$1,438,320
Equity awards (grant-date value)$1,220,695
All other compensation$1,186
Total cost of the board$2,660,201

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies Telephone & Data Systems names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Telephone & Data Systems.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1T-Mobile U.S. Inc.2025Srinivasan Gopalan$861,539$27,114,078$0$3,623,603$35,439,421
2Comcast Corp.2025Brian Roberts2,600,96223,473,07608,583,17535,148,413
3Verizon Communications, Inc.2025Daniel Schulman375,00032,774,7950937,50034,311,016
4AT&T, Inc.2025John Stankey2,400,00019,500,01206,272,00029,906,872
5Lumen Technologies, Inc.2025Kate Johnson1,354,49318,590,66304,877,48624,936,641
6Optimum Communications, Inc.2025Dennis Mathew1,541,9239,810,60502,760,00015,032,320
7American Tower Corp.2025Steven Vondran1,000,00011,528,74802,280,00014,854,505
8ViaSat Inc.2026Mark Dankberg1,406,53810,305,39002,450,00014,208,178
9Crown Castle International Corp.2025Christian Hillabrant269,23112,147,0360823,52214,154,801
10SBA Communications Corp.2025Brendan Cavanagh955,0008,640,31301,733,08611,358,715
11Cable One, Inc.2025Julia Laulis945,0008,566,8810526,93210,159,056
12Telephone & Data Systems2025Laurent Therivel590,6987,076,4000653,2309,313,033
13Uniti Group, Inc.2025Kenneth Gunderman725,0006,294,83702,158,5149,194,673
14Iridium Communications, Inc.2025Matthew Desch1,047,5097,612,0820330,6209,013,522
15Harmonic, Inc.2025Nimrod Ben-Natan609,0004,927,5620570,0006,163,092
16EchoStar Corp.2025Charles Ergen1,000,0000004,648,665
17ATN International, Inc.2025Brad Martin545,1921,930,7770546,0003,035,458
18IDT Corp.2025Shmuel Jonas495,0000300,00301,479,253
—Consolidated Communications Holdings, Inc.——————not in coverage universe
—Frontier Communications Parent, Inc.——————not in coverage universe
—WideOpenWest, Inc.——————not in coverage universe

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Telephone & Data Systemsnot disclosedPSU 50 · RSU 50not disclosedCompensation Strategies, Inc.
American Tower Corp.114%PSU 70 · RSU 30Yes — Relative TSRMeridian Compensation Partners, LLC
AT&T, Inc.112%PSU 75 · RSU 25Yes — Relative Total Stockholder Return (TSR) Payout ModifierFrederic W. Cook & Co., Inc. (FW Cook)
ATN International, Inc.not disclosedRSU 50 · PSU 50not disclosedCompensia
Cable One, Inc.not disclosedPSU 60 · RSU 40not disclosedPearl Meyer & Partners, LLC
Comcast Corp.110%PSU 100Yes — Relative TSR ModifierKorn Ferry
Consolidated Communications Holdings, Inc.not disclosednot disclosednot disclosednot disclosed
Crown Castle International Corp.139.16%PSU 60 · RSU 40Yes — Relative TSRFW Cook
EchoStar Corp.not disclosednot disclosednot disclosednot disclosed
Frontier Communications Parent, Inc.not disclosednot disclosednot disclosednot disclosed
Harmonic, Inc.not disclosedRSU 60 · MSU 20 · PSU 20Yes — TSR relative to Nasdaq Telecommunications IndexExequity
IDT Corp.Bonuses ranged from 16.9% to 138% of base salary. Management recommended bonuses approximately 12.65% higher than Fiscal 2024.%not disclosednot disclosednot disclosed
Iridium Communications, Inc.not disclosedRSU 50 · PRSU 50not disclosedClearBridge
Lumen Technologies, Inc.136.4%PSU 60 · RSU 40NoCompensia Inc.
Optimum Communications, Inc.not disclosedRSU 50 · CPA 50not disclosedWillis Towers Watson (WTW) and Frederic W. Cook & Co. (FW Cook)
SBA Communications Corp.103.7%not disclosedYes — Relative TSRF.W. Cook & Co., Inc.
T-Mobile U.S. Inc.161%PSU 50 · RSU 50Yes — Relative Total Shareholder Return (RTSR)Mercer
Uniti Group, Inc.132%PSU 50 · RSU 50Yes — Relative Total Shareholder Return (TSR)Pearl Meyer
Verizon Communications, Inc.100%PSU 60 · RSU 40Yes — relative total shareholder return (TSR) position compared with the companies in the S&P 100Meridian Compensation Partners, LLC
ViaSat Inc.121%RSU 50 · PSU 25 · Cash LTI 25Yes — Relative Total Shareholder Return (TSR) vs. Russell 3000 IndexCompensia
WideOpenWest, Inc.not disclosednot disclosednot disclosednot disclosed

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

10d

Frequently asked questions

Who was the highest-paid executive at Telephone & Data Systems in fiscal 2025?
As disclosed, Laurent Therivel (Former President and CEO of Array) was the highest-paid executive at Telephone & Data Systems in fiscal 2025, with total compensation of $9,313,033.
How did shareholders vote on Telephone & Data Systems's executive compensation?
As disclosed, 94.7% of shareholders supported Telephone & Data Systems's executive compensation in the latest say-on-pay vote.
How much does Telephone & Data Systems spend in total on board compensation for fiscal 2025?
As disclosed, Telephone & Data Systems reported total board compensation of $2,660,201 for fiscal 2025.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

11

Source register

Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Laurent TherivelDEF 14A2026-04-080001051512-26-000024Section “Summary Compensation Table” · page 46. As printed: 9,313,033. View filing ↗
2Section 01, James ButmanDEF 14A2026-04-080001051512-26-000024Section “Summary Compensation Table” · page 46. As printed: 5,488,380. View filing ↗
3Section 01, Walter CarlsonDEF 14A2026-04-080001051512-26-000024Section “Summary Compensation Table” · page 46. As printed: 4,767,544. View filing ↗
4Section 01, Kenneth DixonDEF 14A2026-04-080001051512-26-000024Section “Summary Compensation Table” · page 46. As printed: 4,112,642. View filing ↗
5Section 01, Vicki VillacrezDEF 14A2026-04-080001051512-26-000024Section “Summary Compensation Table” · page 46. As printed: 3,389,128. View filing ↗
6Section 01, Joseph HanleyDEF 14A2026-04-080001051512-26-000024Section “Summary Compensation Table” · page 46. As printed: 2,197,992. View filing ↗
7Section 03, Vicki Villacrez PSUDEF 14A2026-04-080001051512-26-000024Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
8Section 03, James Butman PSUDEF 14A2026-04-080001051512-26-000024Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
9Section 03, James Butman PSUDEF 14A2026-04-080001051512-26-000024Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
10Section 03, Anthony J. M. Carlson RSUDEF 14A2026-04-080001051512-26-000024Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
11Section 03, Anthony J. M. Carlson PSUDEF 14A2026-04-080001051512-26-000024Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
12Section 03, LeRoy T. Carlson Jr. PSUDEF 14A2026-04-080001051512-26-000024Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
13Section 03, LeRoy T. Carlson Jr. RSUDEF 14A2026-04-080001051512-26-000024Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
14Section 03, Kenneth S. Dixon RSUDEF 14A2026-04-080001051512-26-000024Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
15Section 03, Joseph Hanley PSUDEF 14A2026-04-080001051512-26-000024Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
16Section 03, Laurent Therivel PSUDEF 14A2026-04-080001051512-26-000024Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
17Section 03, Vicki Villacrez PSUDEF 14A2026-04-080001051512-26-000024Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
18Section 03, Anthony J. M. Carlson PSUDEF 14A2026-04-080001051512-26-000024Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
19Section 03, LeRoy T. Carlson Jr. RSUDEF 14A2026-04-080001051512-26-000024Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
20Section 03, LeRoy T. Carlson Jr. PSUDEF 14A2026-04-080001051512-26-000024Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
21Section 03, Walter C. D. Carlson PSUDEF 14A2026-04-080001051512-26-000024Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
22Section 03, Walter C. D. Carlson RSUDEF 14A2026-04-080001051512-26-000024Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
23Section 03, Kenneth S. Dixon PSUDEF 14A2026-04-080001051512-26-000024Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
24Section 03, Joseph Hanley RSUDEF 14A2026-04-080001051512-26-000024Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
25Section 03, Kenneth S. Dixon RSUDEF 14A2026-04-080001051512-26-000024Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
26Section 03, Joseph Hanley PSUDEF 14A2026-04-080001051512-26-000024Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
27Section 03, James Butman RSUDEF 14A2026-04-080001051512-26-000024Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
28Section 03, Anthony J. M. Carlson RSUDEF 14A2026-04-080001051512-26-000024Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
29Section 03, Anthony J. M. Carlson PSUDEF 14A2026-04-080001051512-26-000024Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
30Section 03, Laurent Therivel PSUDEF 14A2026-04-080001051512-26-000024Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
31Section 03, Vicki Villacrez RSUDEF 14A2026-04-080001051512-26-000024Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
32Section 03, Laurent Therivel PSUDEF 14A2026-04-080001051512-26-000024Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
33Section 03, Laurent Therivel RSUDEF 14A2026-04-080001051512-26-000024Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
34Section 08, Christopher D. O'LearyDEF 14A2026-04-080001051512-26-000024Section “Director Compensation”. As printed: 312,936. View filing ↗
35Section 08, Kimberly D. DixonDEF 14A2026-04-080001051512-26-000024Section “Director Compensation”. As printed: 282,736. View filing ↗
36Section 08, Kenneth S. DixonDEF 14A2026-04-080001051512-26-000024Section “Director Compensation”. As printed: 282,736. View filing ↗
37Section 08, Wade OostermanDEF 14A2026-04-080001051512-26-000024Section “Director Compensation”. As printed: 274,886. View filing ↗
38Section 08, George W. OffDEF 14A2026-04-080001051512-26-000024Section “Director Compensation”. As printed: 273,136. View filing ↗
39Section 08, Dirk S. WoessnerDEF 14A2026-04-080001051512-26-000024Section “Director Compensation”. As printed: 251,641. View filing ↗
40Section 08, Prudence E. CarlsonDEF 14A2026-04-080001051512-26-000024Section “Director Compensation”. As printed: 231,136. View filing ↗
41Section 08, LeRoy T. Carlson JrDEF 14A2026-04-080001051512-26-000024Section “Director Compensation”. As printed: 231,136. View filing ↗
42Section 08, Letitia G. Carlson, M.DDEF 14A2026-04-080001051512-26-000024Section “Director Compensation”. As printed: 231,136. View filing ↗
43Section 08, Napoleon B. Rutledge JrDEF 14A2026-04-080001051512-26-000024Section “Director Compensation”. As printed: 190,930. View filing ↗
44Section 08, Walter C. D. CarlsonDEF 14A2026-04-080001051512-26-000024Section “Director Compensation”. As printed: 97,792. View filing ↗
45Section 08, Vicki L. VillacrezDEF 14A2026-04-080001051512-26-000024Section “Director Compensation”. As printed: 0. View filing ↗
46Section 06, 2026 voteForm 8-K2026-05-260001051512-26-000049Item 5.07 · say-on-pay result. As reported: 94.7% (votes for as printed: 118,794,713). View filing ↗
47Section 06, 2025 voteForm 8-K2025-05-230001051512-25-000035Item 5.07 · say-on-pay result. As reported: 92.7% (votes for as printed: 111,460,476). View filing ↗
48Section 06, 2023 voteForm 8-K2023-05-190001051512-23-000035Item 5.07 · say-on-pay result. As reported: 93.92% (votes for as printed: 115,575,482). View filing ↗
49Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.
50Section 03b vehicle mix (computed)Computed——RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
51Section 09b board cost (computed)Computed——Cash 1,438,320 + equity 1,220,695 + all other 1,186 = 2,660,201, summed across the director compensation table rows.
52T-Mobile U.S. Inc., Section 10b CEO totalDEF 14A2026-04-270001193125-26-181884CEO total compensation as printed in T-Mobile U.S. Inc.'s own proxy. As printed: 35,439,421. View filing ↗
53Comcast Corp., Section 10b CEO totalDEF 14A2026-04-240001193125-26-177138CEO total compensation as printed in Comcast Corp.'s own proxy. As printed: 35,148,413. View filing ↗
54Verizon Communications, Inc., Section 10b CEO totalDEF 14A2026-04-060001308179-26-000210CEO total compensation as printed in Verizon Communications, Inc.'s own proxy. As printed: 34,311,016. View filing ↗
55AT&T, Inc., Section 10b CEO totalDEF 14A2026-03-230001193125-26-119888CEO total compensation as printed in AT&T, Inc.'s own proxy. As printed: 29,906,872. View filing ↗
56Lumen Technologies, Inc., Section 10b CEO totalDEF 14A2026-04-060000018926-26-000024CEO total compensation as printed in Lumen Technologies, Inc.'s own proxy. As printed: 24,936,641. View filing ↗
57Optimum Communications, Inc., Section 10b CEO totalDEF 14A2026-04-300001702780-26-000023CEO total compensation as printed in Optimum Communications, Inc.'s own proxy. As printed: 15,032,320. View filing ↗
58American Tower Corp., Section 10b CEO totalDEF 14A2026-04-080001053507-26-000088CEO total compensation as printed in American Tower Corp.'s own proxy. As printed: 14,854,505. View filing ↗
59ViaSat Inc., Section 10b CEO totalDEF 14A2026-07-270001193125-26-318060CEO total compensation as printed in ViaSat Inc.'s own proxy. As printed: 14,208,178. View filing ↗
60Crown Castle International Corp., Section 10b CEO totalDEF 14A2026-04-060001051470-26-000039CEO total compensation as printed in Crown Castle International Corp.'s own proxy. As printed: 14,154,801. View filing ↗
61SBA Communications Corp., Section 10b CEO totalDEF 14A2026-04-090001193125-26-149656CEO total compensation as printed in SBA Communications Corp.'s own proxy. As printed: 11,358,715. View filing ↗
62Cable One, Inc., Section 10b CEO totalDEF 14A2026-04-070001632127-26-000015CEO total compensation as printed in Cable One, Inc.'s own proxy. As printed: 10,159,056. View filing ↗
63Telephone & Data Systems (subject), Section 10b CEO totalDEF 14A2026-04-080001051512-26-000024CEO total compensation as printed in Telephone & Data Systems's own proxy. As printed: 9,313,033. View filing ↗
64Uniti Group, Inc., Section 10b CEO totalDEF 14A2026-04-210001104659-26-045735CEO total compensation as printed in Uniti Group, Inc.'s own proxy. As printed: 9,194,673. View filing ↗
65Iridium Communications, Inc., Section 10b CEO totalDEF 14A2026-04-020001418819-26-000022CEO total compensation as printed in Iridium Communications, Inc.'s own proxy. As printed: 9,013,522. View filing ↗
66Harmonic, Inc., Section 10b CEO totalDEF 14A2026-04-240001140361-26-016701CEO total compensation as printed in Harmonic, Inc.'s own proxy. As printed: 6,163,092. View filing ↗
67EchoStar Corp., Section 10b CEO totalDEF 14A2026-09-180001104659-26-108960CEO total compensation as printed in EchoStar Corp.'s own proxy. As printed: 4,648,665. View filing ↗
68ATN International, Inc., Section 10b CEO totalDEF 14A2026-04-290001104659-26-050554CEO total compensation as printed in ATN International, Inc.'s own proxy. As printed: 3,035,458. View filing ↗
69IDT Corp., Section 10b CEO totalDEF 14A2025-10-300001493152-25-020225CEO total compensation as printed in IDT Corp.'s own proxy. As printed: 1,479,253. View filing ↗
70Section 10a, Verizon Communications, Inc. reciprocityDEF 14A—0001308179-26-000210Verizon Communications, Inc.'s most recent proxy was read; its disclosed peer group does not include Telephone & Data Systems. View filing ↗
71Section 10a, Cable One, Inc. reciprocityDEF 14A—0001632127-26-000015Cable One, Inc.'s most recent proxy was read; its disclosed peer group does not include Telephone & Data Systems. View filing ↗
72Section 10a, Uniti Group, Inc. reciprocityDEF 14A—0001104659-26-045735Uniti Group, Inc.'s most recent proxy was read; its disclosed peer group does not include Telephone & Data Systems. View filing ↗
73Section 10a, Lumen Technologies, Inc. reciprocityDEF 14A—0000018926-26-000024Lumen Technologies, Inc. names Telephone & Data Systems in its own disclosed peer group (read from its most recent proxy). View filing ↗
74Section 10a, T-Mobile U.S. Inc. reciprocityDEF 14A—0001193125-26-181884T-Mobile U.S. Inc.'s most recent proxy was read; its disclosed peer group does not include Telephone & Data Systems. View filing ↗
75Section 10a, Iridium Communications, Inc. reciprocityDEF 14A—0001418819-26-000022Iridium Communications, Inc.'s most recent proxy was read; its disclosed peer group does not include Telephone & Data Systems. View filing ↗
76Section 10a, ATN International, Inc. reciprocityDEF 14A—0001104659-26-050554ATN International, Inc.'s most recent proxy was read; its disclosed peer group does not include Telephone & Data Systems. View filing ↗
77Section 10a, Optimum Communications, Inc. reciprocityDEF 14A—0001702780-26-000023Optimum Communications, Inc.'s most recent proxy was read; its disclosed peer group does not include Telephone & Data Systems. View filing ↗
78Section 10a, EchoStar Corp. reciprocityDEF 14A—0001104659-26-108960EchoStar Corp.'s most recent proxy was read; its disclosed peer group does not include Telephone & Data Systems. View filing ↗
79Section 10a, SBA Communications Corp. reciprocityDEF 14A—0001193125-26-149656SBA Communications Corp.'s most recent proxy was read; its disclosed peer group does not include Telephone & Data Systems. View filing ↗
80Section 10a, Comcast Corp. reciprocityDEF 14A—0001193125-26-177138Comcast Corp.'s most recent proxy was read; its disclosed peer group does not include Telephone & Data Systems. View filing ↗
81Section 10a, Harmonic, Inc. reciprocityDEF 14A—0001140361-26-016701Harmonic, Inc.'s most recent proxy was read; its disclosed peer group does not include Telephone & Data Systems. View filing ↗
82Section 10a, AT&T, Inc. reciprocityDEF 14A—0001193125-26-119888AT&T, Inc.'s most recent proxy was read; its disclosed peer group does not include Telephone & Data Systems. View filing ↗
83Section 10a, American Tower Corp. reciprocityDEF 14A—0001053507-26-000088American Tower Corp.'s most recent proxy was read; its disclosed peer group does not include Telephone & Data Systems. View filing ↗