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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement, Noncash Expense [Abstract]

Stock-based compensation

The following table summarizes stock-based compensation expense recognized during 2024, 2023 and 2022:

Year Ended December 31,			2024						2023						2022
(Dollars in millions)
Stock option awards			$	—					$	—					$	1
Restricted stock unit awards			41						32						28
Performance share unit awards			28						7						11
Awards under Non-Employee Director compensation plan			2						2						2
Total stock-based compensation, before income taxes			71						41						42
Income tax benefit			(18)						(10)						(11)
Total stock-based compensation expense, net of income taxes			$	53					$	31					$	31

Stock-based compensation, allocation by financial statement line item

The following table provides a summary of the classification of stock-based compensation expense included in the Consolidated Statement of Operations for the years ended:

December 31,			2024						2023						2022
(Dollars in millions)
Selling, general and administrative expense			$	63					$	36					$	36
Cost of services expense			8						5						6
Total stock-based compensation expense			$	71					$	41					$	42

Summary of nonvested restricted stock units

A summary of TDS nonvested restricted stock units and changes during 2024 is presented in the table below:

Common Restricted Stock Units			Number						Weighted Average Grant Date Fair Value
Nonvested at December 31, 2023			3,635,000						$	9.76
Granted			717,000						$	20.12
Vested			(1,357,000)						$	12.87
Forfeited			(319,000)						$	11.50
Nonvested at December 31, 2024			2,676,000						$	11.75

A summary of UScellular nonvested restricted stock units and changes during 2024 is presented in the table below:

Common Restricted Stock Units			Number						Weighted Average Grant Date Fair Value
Nonvested at December 31, 2023			2,548,000						$	27.26
Granted			728,000						$	35.67
Vested			(782,000)						$	31.98
Forfeited			(56,000)						$	27.68
Nonvested at December 31, 2024			2,438,000						$	29.01

Summary of nonvested performance share units

A summary of TDS nonvested performance share units and changes during 2024 is presented in the table below:

Common Performance Share Units			Number						Weighted Average Grant Date Fair Value
Nonvested at December 31, 2023			2,201,000						$	12.17
Granted			468,000						$	20.26
Vested			(192,000)						$	23.61
Change in units based on approved performance factors			69,000						$	23.76
Forfeited			(500,000)						$	16.80
Accumulated dividend equivalents			31,000						$	11.22
Nonvested at December 31, 2024			2,077,000						$	12.48

A summary of UScellular’s nonvested performance share units and changes during 2024 is presented in the table below:

Common Performance Share Units			Number						Weighted Average Grant Date Fair Value
Nonvested at December 31, 2023			1,457,000						$	27.37
Granted			409,000						$	36.59
Vested			(263,000)						$	20.06
Change in units based on approved performance factors			114,000						$	23.06
Forfeited			(109,000)						$	21.35
Nonvested at December 31, 2024			1,608,000						$	31.91

Summary of stock options

A summary of TDS stock options and changes during 2024 is presented in the tables and narrative below.

Common Share Options			Number of Options						Weighted Average Exercise Prices						Aggregate Intrinsic Value (in millions)						Weighted Average Remaining Contractual Life (in years)
Outstanding at December 31, 2023			2,517,000						$	26.72
Exercised			(357,000)						$	25.69
Forfeited			(4,000)						$	25.36
Expired			(543,000)						$	26.88
Outstanding at December 31, 2024			1,613,000						$	26.90					$	12					2.9
(1,613,000 exercisable)									$	26.90					$	12					2.9

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