TDS Telephone & Data Systems Inc /De/ - 8-K

Item 2.01. Completion of Acquisition or Disposition of Assets

On June 1, 202 6, Array Digital Infrastructure, Inc. (f/k/a United States Cellular Corporation) (“Array”), a subsidiary of Telephone and Data Systems, Inc. (“TDS”), and certain subsidiaries of Array (collectively, “Sellers”) completed the previously announced sale of select spectrum assets to Verizon Communications Inc. (“Verizon”), pursuant to the terms of that certain License Purchase Agreement, dated as of October 17, 2024, between Sellers and Verizon (the “Closing”).

The purchase price received by Array at the Closing was $ 1.0 billi on, paid in cash.

Item 8.01. Other Events

Array Special Dividend

On June 1, 2026, the Board of Directors of Array declared a special cash dividend to holders of Array’s Common Stock (“Common Stock”) and holders of Array’s Series A Common Stock (“Series A Common Stock”) of $11.00 per share payable in cash to the stockholders of record as of June 11, 2026. On June 1, 2026, TDS held 33,005,877 shares of Series A Common Stock and 37,782,826 shares of Common Stock. The payment date in respect of the dividend is scheduled for June 25, 2026.