TDS Reports Director Changes and Compensation Updates
Ticker: TDS-PV · Form: 8-K · Filed: Jan 27, 2025 · CIK: 1051512
| Field | Detail |
|---|---|
| Company | Telephone & Data Systems Inc /De/ (TDS-PV) |
| Form Type | 8-K |
| Filed Date | Jan 27, 2025 |
| Risk Level | low |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $19 million, $850,000, $3,000,000, $700,000, $1,250,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: corporate-governance, officer-changes, director-changes
Related Tickers: TDS
TL;DR
TDS board shakeup: Director out, new ones in, pay plans adjusted. #CorpGov
AI Summary
On January 24, 2025, Telephone and Data Systems, Inc. (TDS) filed an 8-K report detailing several key events. These include the departure of director Steven J. Shutter, the election of new directors, and changes in officer compensation arrangements. The filing also addresses amendments to the company's articles of incorporation and bylaws, along with financial statements and exhibits.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or governance, impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — The filing primarily concerns routine corporate governance matters and does not indicate any immediate financial distress or significant operational changes.
Key Players & Entities
- Telephone and Data Systems, Inc. (company) — Registrant
- Steven J. Shutter (person) — Departing Director
- January 24, 2025 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of incorporation
- 30 NORTH LASALLE STREET STE 4000 CHICAGO IL 60602 (address) — Business and Mail Address
FAQ
Who has departed from the board of directors at Telephone and Data Systems, Inc.?
Steven J. Shutter has departed from the board of directors.
What is the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is January 24, 2025.
What are the main items covered in this 8-K filing?
The filing covers the departure of directors, election of directors, appointment of officers, compensatory arrangements, amendments to articles of incorporation/bylaws, and financial statements/exhibits.
In which state was Telephone and Data Systems, Inc. incorporated?
Telephone and Data Systems, Inc. was incorporated in Delaware.
What is the business address of Telephone and Data Systems, Inc.?
The business address is 30 NORTH LASALLE STREET, STE 4000, CHICAGO, IL 60602.
Filing Stats: 1,506 words · 6 min read · ~5 pages · Grade level 10.4 · Accepted 2025-01-27 16:13:07
Key Financial Figures
- $19 million — l expenses from Sidley of approximately $19 million in 2024. Prior to the effective date
- $850,000 — ntitled to (i) an annual base salary of $850,000, (ii) eligibility for an annual cash bo
- $3,000,000 — m incentive target opportunity equal to $3,000,000, subject to the discretion of the Compe
- $700,000 — ntitled to (i) an annual base salary of $700,000, (ii) continued eligibility for an annu
- $1,250,000 — m incentive target opportunity equal to $1,250,000, subject to the discretion of the Compe
Filing Documents
- tds-20250124.htm (8-K) — 45KB
- tds8-k2025amendedbylawsex31.htm (EX-3.1) — 256KB
- tds8-k2025ex991.htm (EX-99.1) — 8KB
- image.jpg (GRAPHIC) — 13KB
- tds-20250124_g1.jpg (GRAPHIC) — 19KB
- 0001051512-25-000005.txt ( ) — 603KB
- tds-20250124.xsd (EX-101.SCH) — 3KB
- tds-20250124_def.xml (EX-101.DEF) — 16KB
- tds-20250124_lab.xml (EX-101.LAB) — 30KB
- tds-20250124_pre.xml (EX-101.PRE) — 17KB
- tds-20250124_htm.xml (XML) — 5KB
03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year On January 24, 2025, the Board of Directors of TDS adopted an amendment (the "Amendment") to the Bylaws of TDS, as amended and restated as of December 13, 2024, which became effective immediately. The Amendment to Section 2.19 provides that the Chair of the Board of Directors may, but need not be, an officer or employee of the company. The foregoing description of the Amendment is not complete and is qualified in its entirety by reference to the Amended and Restated Bylaws, which are attached hereto as Exhibit 3.1 and incorporated by reference herein.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits (d) The following exhibits are being filed herewith: Exhibit Number Description of Exhibits 3.1 Amended and Restated Bylaws, as Amended January 24, 2025. 99.1 Press Release Dated January 27, 2025. 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. TELEPHONE AND DATA SYSTEMS, INC. Date: January 27, 2025 By: /s/ Vicki L. Villacrez Vicki L. Villacrez Executive Vice President and Chief Financial Officer