<SEC-DOCUMENT>0001950047-25-005980.txt : 20250818
<SEC-HEADER>0001950047-25-005980.hdr.sgml : 20250818
<ACCEPTANCE-DATETIME>20250818162806
ACCESSION NUMBER:		0001950047-25-005980
CONFORMED SUBMISSION TYPE:	144
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250818
DATE AS OF CHANGE:		20250818

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TELEPHONE & DATA SYSTEMS INC /DE/
		CENTRAL INDEX KEY:			0001051512
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813]
		ORGANIZATION NAME:           	06 Technology
		EIN:				362669023
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		144
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	001-14157
		FILM NUMBER:		251228245

	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

REPORTING-OWNER:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Villacrez Vicki L
		CENTRAL INDEX KEY:			0001926297
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		144

	MAIL ADDRESS:	
		STREET 1:		30 N. LASALLE STREET, SUITE 4000
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60602
</SEC-HEADER>
<DOCUMENT>
<TYPE>144
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
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    <headerData>
        <submissionType>144</submissionType>
        <filerInfo>
            <filer>
                <filerCredentials>
                    <cik>0001926297</cik>
                    <ccc>XXXXXXXX</ccc>
                </filerCredentials>
            </filer>
            <liveTestFlag>LIVE</liveTestFlag>



        </filerInfo>
    </headerData>
    <formData>
        <issuerInfo>
            <issuerCik>0001051512</issuerCik>
            <issuerName>TELEPHONE AND DATA SYSTEMS, INC.</issuerName>
            <secFileNumber>001-14157</secFileNumber>
            <issuerAddress>
                <ns2:street1>30 North LaSalle Street, Suite 4000</ns2:street1>
                <ns2:city>Chicago</ns2:city>
                <ns2:stateOrCountry>IL</ns2:stateOrCountry>
                <ns2:zipCode>60602</ns2:zipCode>
            </issuerAddress>
            <issuerContactPhone>(312) 630-1900</issuerContactPhone>
            <nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>VICKI VILLACREZ</nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
            <relationshipsToIssuer>
                <relationshipToIssuer>Officer</relationshipToIssuer>
                <relationshipToIssuer>Director</relationshipToIssuer>
            </relationshipsToIssuer>
        </issuerInfo>
        <securitiesInformation>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <brokerOrMarketmakerDetails>
                <name>Morgan Stanley Smith Barney LLC Executive Financial Services</name>
                <address>
                    <ns2:street1>1 New York Plaza</ns2:street1>
                    <ns2:street2>8th Floor</ns2:street2>
                    <ns2:city>New York</ns2:city>
                    <ns2:stateOrCountry>NY</ns2:stateOrCountry>
                    <ns2:zipCode>10004</ns2:zipCode>
                </address>
            </brokerOrMarketmakerDetails>
            <noOfUnitsSold>26334</noOfUnitsSold>
            <aggregateMarketValue>1027476.31</aggregateMarketValue>
            <noOfUnitsOutstanding>108000000</noOfUnitsOutstanding>
            <approxSaleDate>08/18/2025</approxSaleDate>
            <securitiesExchangeName>NYSE</securitiesExchangeName>
        </securitiesInformation>
        <securitiesToBeSold>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <acquiredDate>06/11/2025</acquiredDate>
            <natureOfAcquisitionTransaction>Restricted stock vesting under a registered plan</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>Issuer</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>5390</amountOfSecuritiesAcquired>
            <paymentDate>06/11/2025</paymentDate>
            <natureOfPayment>Services Rendered</natureOfPayment>
        </securitiesToBeSold>
        <securitiesToBeSold>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <acquiredDate>05/18/2025</acquiredDate>
            <natureOfAcquisitionTransaction>Restricted stock vesting under a registered plan</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>Issuer</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>15307</amountOfSecuritiesAcquired>
            <paymentDate>05/18/2025</paymentDate>
            <natureOfPayment>Services Rendered</natureOfPayment>
        </securitiesToBeSold>
        <securitiesToBeSold>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <acquiredDate>05/17/2025</acquiredDate>
            <natureOfAcquisitionTransaction>Restricted stock vesting under a registered plan</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>Issuer</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>5637</amountOfSecuritiesAcquired>
            <paymentDate>05/17/2025</paymentDate>
            <natureOfPayment>Services Rendered</natureOfPayment>
        </securitiesToBeSold>
        <nothingToReportFlagOnSecuritiesSoldInPast3Months>N</nothingToReportFlagOnSecuritiesSoldInPast3Months>
        <securitiesSoldInPast3Months>
            <sellerDetails>
                <name>VICKI VILLACREZ</name>
                <address>
                    <ns2:street1>30 North LaSalle Street, Suite 4000</ns2:street1>
                    <ns2:city>Chicago</ns2:city>
                    <ns2:stateOrCountry>IL</ns2:stateOrCountry>
                    <ns2:zipCode>60602</ns2:zipCode>
                </address>
            </sellerDetails>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <saleDate>08/15/2025</saleDate>
            <amountOfSecuritiesSold>3559</amountOfSecuritiesSold>
            <grossProceeds>137235.75</grossProceeds>
        </securitiesSoldInPast3Months>
        <securitiesSoldInPast3Months>
            <sellerDetails>
                <name>VICKI VILLACREZ</name>
                <address>
                    <ns2:street1>30 North LaSalle Street, Suite 4000</ns2:street1>
                    <ns2:city>Chicago</ns2:city>
                    <ns2:stateOrCountry>IL</ns2:stateOrCountry>
                    <ns2:zipCode>60602</ns2:zipCode>
                </address>
            </sellerDetails>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <saleDate>08/15/2025</saleDate>
            <amountOfSecuritiesSold>391</amountOfSecuritiesSold>
            <grossProceeds>15077.04</grossProceeds>
        </securitiesSoldInPast3Months>
        <securitiesSoldInPast3Months>
            <sellerDetails>
                <name>VICKI VILLACREZ</name>
                <address>
                    <ns2:street1>30 North LaSalle Street, Suite 4000</ns2:street1>
                    <ns2:city>Chicago</ns2:city>
                    <ns2:stateOrCountry>IL</ns2:stateOrCountry>
                    <ns2:zipCode>60602</ns2:zipCode>
                </address>
            </sellerDetails>
            <securitiesClassTitle>Common</securitiesClassTitle>
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            <amountOfSecuritiesSold>19901</amountOfSecuritiesSold>
            <grossProceeds>767386.54</grossProceeds>
        </securitiesSoldInPast3Months>
        <securitiesSoldInPast3Months>
            <sellerDetails>
                <name>VICKI VILLACREZ</name>
                <address>
                    <ns2:street1>30 North LaSalle Street, Suite 4000</ns2:street1>
                    <ns2:city>Chicago</ns2:city>
                    <ns2:stateOrCountry>IL</ns2:stateOrCountry>
                    <ns2:zipCode>60602</ns2:zipCode>
                </address>
            </sellerDetails>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <saleDate>08/15/2025</saleDate>
            <amountOfSecuritiesSold>2894</amountOfSecuritiesSold>
            <grossProceeds>111593.22</grossProceeds>
        </securitiesSoldInPast3Months>
        <securitiesSoldInPast3Months>
            <sellerDetails>
                <name>VICKI VILLACREZ</name>
                <address>
                    <ns2:street1>30 North LaSalle Street, Suite 4000</ns2:street1>
                    <ns2:city>Chicago</ns2:city>
                    <ns2:stateOrCountry>IL</ns2:stateOrCountry>
                    <ns2:zipCode>60602</ns2:zipCode>
                </address>
            </sellerDetails>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <saleDate>08/15/2025</saleDate>
            <amountOfSecuritiesSold>16481</amountOfSecuritiesSold>
            <grossProceeds>635510.66</grossProceeds>
        </securitiesSoldInPast3Months>
        <securitiesSoldInPast3Months>
            <sellerDetails>
                <name>VICKI VILLACREZ</name>
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                    <ns2:city>Chicago</ns2:city>
                    <ns2:stateOrCountry>IL</ns2:stateOrCountry>
                    <ns2:zipCode>60602</ns2:zipCode>
                </address>
            </sellerDetails>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <saleDate>08/15/2025</saleDate>
            <amountOfSecuritiesSold>847</amountOfSecuritiesSold>
            <grossProceeds>32660.49</grossProceeds>
        </securitiesSoldInPast3Months>
        <securitiesSoldInPast3Months>
            <sellerDetails>
                <name>VICKI VILLACREZ</name>
                <address>
                    <ns2:street1>30 North LaSalle Street, Suite 4000</ns2:street1>
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                    <ns2:stateOrCountry>IL</ns2:stateOrCountry>
                    <ns2:zipCode>60602</ns2:zipCode>
                </address>
            </sellerDetails>
            <securitiesClassTitle>Common</securitiesClassTitle>
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            <amountOfSecuritiesSold>10174</amountOfSecuritiesSold>
            <grossProceeds>392311.47</grossProceeds>
        </securitiesSoldInPast3Months>
        <securitiesSoldInPast3Months>
            <sellerDetails>
                <name>VICKI VILLACREZ</name>
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                    <ns2:stateOrCountry>IL</ns2:stateOrCountry>
                    <ns2:zipCode>60602</ns2:zipCode>
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            </sellerDetails>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <saleDate>08/15/2025</saleDate>
            <amountOfSecuritiesSold>4205</amountOfSecuritiesSold>
            <grossProceeds>161971.13</grossProceeds>
        </securitiesSoldInPast3Months>
        <securitiesSoldInPast3Months>
            <sellerDetails>
                <name>VICKI VILLACREZ</name>
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                    <ns2:street1>30 North LaSalle Street, Suite 4000</ns2:street1>
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                    <ns2:stateOrCountry>IL</ns2:stateOrCountry>
                    <ns2:zipCode>60602</ns2:zipCode>
                </address>
            </sellerDetails>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <saleDate>08/13/2025</saleDate>
            <amountOfSecuritiesSold>1868</amountOfSecuritiesSold>
            <grossProceeds>72633.44</grossProceeds>
        </securitiesSoldInPast3Months>
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                    <ns2:stateOrCountry>IL</ns2:stateOrCountry>
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            <securitiesClassTitle>Common</securitiesClassTitle>
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            <grossProceeds>96274.31</grossProceeds>
        </securitiesSoldInPast3Months>
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                    <ns2:stateOrCountry>IL</ns2:stateOrCountry>
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                    <ns2:zipCode>60602</ns2:zipCode>
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            <sellerDetails>
                <name>VICKI VILLACREZ</name>
                <address>
                    <ns2:street1>30 North LaSalle Street, Suite 4000</ns2:street1>
                    <ns2:city>Chicago</ns2:city>
                    <ns2:stateOrCountry>IL</ns2:stateOrCountry>
                    <ns2:zipCode>60602</ns2:zipCode>
                </address>
            </sellerDetails>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <saleDate>08/13/2025</saleDate>
            <amountOfSecuritiesSold>2805</amountOfSecuritiesSold>
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        </securitiesSoldInPast3Months>
        <securitiesSoldInPast3Months>
            <sellerDetails>
                <name>VICKI VILLACREZ</name>
                <address>
                    <ns2:street1>30 North LaSalle Street, Suite 4000</ns2:street1>
                    <ns2:city>Chicago</ns2:city>
                    <ns2:stateOrCountry>IL</ns2:stateOrCountry>
                    <ns2:zipCode>60602</ns2:zipCode>
                </address>
            </sellerDetails>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <saleDate>08/13/2025</saleDate>
            <amountOfSecuritiesSold>54940</amountOfSecuritiesSold>
            <grossProceeds>2136111.15</grossProceeds>
        </securitiesSoldInPast3Months>
        <noticeSignature>
            <noticeDate>08/18/2025</noticeDate>
            <planAdoptionDates/>
            <signature>/s/ Vicki L Villacrez</signature>
        </noticeSignature>
    </formData>
</edgarSubmission>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
