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
X Officer (give title below) Other (specify below)
Executive Vice President & CFO
3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
12/31/2009
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 12/31/2009 J 498.98 A (7) 2,157.75 I By 401K plan
Special Common Shares 12/31/2009 J 13.78 A (7) 840.85 I By 401k plan
Common Shares 850.6322 D
Special Common Shares 03/31/2009 J(1) 60.3985 A $20.1025 8,452.8006 D
Special Common Shares 06/30/2009 J(1) 340.8669 A $22.066 8,452.8006 D
Special Common Shares 09/30/2009 J(1) 255.5518 A $25.228 8,452.8006 D
Special Common Shares 12/31/2009 J(1) 236.3541 A $25.67 8,452.8006 D
Common Shares 500 I By Wife
Special Common Shares 500 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 Special Common Shares 52,942 52,942 D
Option (Right to buy) $35.35 (2) 08/26/2018 Special Common Shares 93,000 93,000 D
Option (Right to buy) $26.95 (5) 05/20/2019 Special Common Shares 129,400 129,400 D
Restricted Stock Units (3) (3) 08/26/2018 Special Common Shares 13,448 13,448 D
Restricted Stock Units (6) (6) 05/21/2019 Special Common Shares 17,622 17,622 D
Option (Right to buy) $20.1025 03/31/2009 J(1) 60.3985 03/31/2009 03/31/2009 Special Common Shares 60.3985 (1) 0 D
Option (Right to buy) $22.066 06/30/2009 J(1) 340.8669 06/30/2009 06/30/2009 Special Common Shares 340.8669 (1) 0 D
Option (Right to buy) $25.228 09/30/2009 J(1) 255.5518 09/30/2009 09/30/2009 Special Common Shares 255.5518 (1) 0 D
Option (Right to buy) $25.67 12/31/2009 J(1) 236.3541 12/31/2009 12/31/2009 Special Common Shares 236.3541 (1) 0 D
Deferred Compensation (4) 12/31/2009 J(4) 86.309 (4) (4) Special Common Shares 7,417.2 (4) 7,417.2 D
Explanation of Responses:
1. Disposition of option and acquisition of stock under the Telephone and Data Systems, Inc. Employee Stock Purchase Plan.
2. 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.
3. Restricted stock unit award pursuant to the Long Term Incentive Plan. Stock units will become vested on December 15, 2010.
4. Reporting person deferred bonuses pursuant to the Long Term Incentive Plan. The employer match vests ratably 33%, 33% and 34% per year over a 3 year period, a total of 6629.609 shares are vested.
5. 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.
6. Resticted stock unit award pursuant to the Long-term Incentive Plan. Stock units will become vested on December 15, 2011.
7. Voluntary reporting of shares acquired in 2009 in the TDS 401K plan. The information is based on a plan statement dated 12/31/09. The number of shares fluctuates and is attributable to the price of the shares on 12/31/09
Remarks:
Julie D. Mathews, by power of atty 01/20/2010
** 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.
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