SEC Form 5
FORM 5 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
  
 Form 3 Holdings Reported.
  
 Form 4 Transactions Reported.
1. Name and Address of Reporting Person*
MEYERS KENNETH R
(Last) (First) (Middle)
TDS
30 N. LASALLE ST. STE. 4000
(Street)
CHICAGO IL 60602
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
TELEPHONE & DATA SYSTEMS INC /DE/ [ TDS ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
12/31/2013
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned at end of Issuer's Fiscal Year (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Amount (A) or (D) Price
Common Shares 5,181(4) I By 401K
Common Shares 59,202 D
Common Shares 1,043 I By Wife
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
(A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Option (Right to buy) $59.45 12/15/2007 07/02/2017 Common Shares 52,942 52,942 D
Option (Right to buy) $35.35 (1) 08/26/2018 Common Shares 93,000 93,000 D
Option (Right to buy) $26.95 (3) 05/20/2019 Common Shares 129,400 129,400 D
Option (Right to buy) $26.66 (3) 05/25/2020 Common Shares 132,500 132,500 D
Option (Right to buy) $29.94 (3) 05/13/2021 Common Shares 121,200 121,200 D
Option (Right to buy) $20.79 (5) 05/16/2022 Common Shares 225,300 225,300 D
Option (Right to buy) $22.6 (7) 05/10/2023 Common Shares 177,319 177,319 D
Restricted Stock Units (6) (6) 12/01/2014 Common Shares 26,900 26,900 D
Restricted Stock Units (8) (8) 05/10/2016 Common Shares 29,909 29,909 D
Deferred Compensation (2) 12/31/2013 J(2) 456 (2) (2) Common Shares 26,288 (2) 26,288 D
Explanation of Responses:
1. Granted under the 2004 Long-term Incentive Plan. Options vest over a 3 year period with one-third of the number of shares becoming exercisable on Aug. 26, 2009, one-third becoming exercisable on Aug. 26, 2010 and one-third becoming exercisable on Aug. 26, 2011.
2. Reporting person deferred bonuses pursuant to the Long Term Incentive Plans. The employer match vests ratably 33%, 33% and 34% per year over a 3 year period, a total of 24,741 shares are vested.
3. Granted under the 2004 Long-term Incentive Plan. Options vest over a 3 year period with one-third of the number of shares becoming exercisable on the first anniversary, one-third on the second anniversary and one-third on the third anniversary.
4. Voluntary reporting of shares acquired in the TDS 401K plan. The information is based on a plan statement dated 12/31/13. The number of shares fluctuates and is attributable to the price of the shares on 12/31/13.
5. Granted under the 2011 Long term Incentive Plan. Options vest over a 3 year period with one-third of the number of shares becoming exercisable on the first anniversary, one-third on the second anniversary and one-third on the third anniversary.
6. Restricted stock unit award pursuant to the 2011 Long-Term Incentive Plan. Stock units will become vested on December 1, 2014.
7. Granted under the 2011 Long-Term Incentive Plan. Options vest on the third annual anniversary.
8. Restricted stock unit award pursuant to the 2011 Long Term Incentive Plan. Stock units will become vested on the third annual anniversary.
Remarks:
Julie D. Mathews, by power of atty 01/24/2014
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.