US Cellular 2015 Annual Report Download - page 105

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NOTE 16 COMMON SHAREHOLDERS’ EQUITY
Common Stock
As of December 31, 2015, Series A Common Shares were convertible, on a share for share basis, into Common Shares
and 7,211,260 Common Shares were reserved for possible issuance upon conversion of Series A Common Shares.
The following table summarizes the number of Common and Series A Common Shares issued and repurchased.
Common Series A
Common Treasury Common
Shares Shares Shares
(Shares in thousands)
Balance at December 31, 2012 ........................... 125,512 24,641 7,160
Repurchase of shares ............................... – 339 –
Conversion of Series A Common Shares ................... 33 – (33)
Dividend reinvestment, incentive and compensation plans ......... – (1,026) 39
Balance at December 31, 2013 ........................... 125,545 23,954 7,166
Repurchase of shares ............................... – 1,542 –
Conversion of Series A Common Shares ................... 25 – (25)
Dividend reinvestment, incentive and compensation plans ......... – (646) 38
Balance at December 31, 2014 ........................... 125,570 24,850 7,179
Conversion of Series A Common Shares ................... 1 – (1)
Dividend reinvestment, incentive and compensation plans ......... – (1,034) 33
Balance at December 31, 2015 ........................... 125,571 23,816 7,211
Tax-Deferred Savings Plan
TDS has reserved 90,341 Common Shares at December 31, 2015, for issuance under the TDS Tax-Deferred Savings
Plan, a qualified profit-sharing plan pursuant to Sections 401(a) and 401(k) of the Internal Revenue Code. Participating
employees have the option of investing their contributions and TDS’ contributions in a TDS Common Share fund, a U.S.
Cellular Common Share fund or certain unaffiliated funds.
Common Share Repurchases
TDS and U.S. Cellular Share Repurchases
On August 2, 2013, the Board of Directors of TDS authorized a $250 million stock repurchase program for the purchase
of TDS Common Shares from time to time pursuant to open market purchases, block transactions, private purchases or
otherwise, depending on market conditions. This authorization does not have an expiration date.
On November 17, 2009, the Board of Directors of U.S. Cellular authorized the repurchase of up to 1,300,000 Common
Shares on an annual basis beginning in 2009 and continuing each year thereafter, on a cumulative basis. These
purchases will be made pursuant to open market purchases, block purchases, private purchases, or otherwise,
depending on market prices and other conditions. This authorization does not have an expiration date.
97
TELEPHONE AND DATA SYSTEMS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS