TDS Voting Trust Reports 11.9% Stake and Proposes Acquisition of Array Digital Infrastructure

This Amendment No. 12 to Schedule 13D is filed by the Trustees of the Telephone & Data Systems Inc. Voting Trust 1989. As of May 7, 2026, the Voting Trust reports beneficial ownership of 13,517,699 shares, representing 11.9% of the Issuer's outstanding capital stock and approximately 56.8% of the aggregate voting power. The filing primarily concerns a non-binding proposal delivered by the Issuer (TDS) to the board of Array Digital Infrastructure, Inc. (formerly United States Cellular Corporation) to acquire all outstanding common shares of Array not already owned by TDS. The proposed merger would involve an exchange ratio of 0.86 TDS Common Shares for each Array Common Share, contingent on certain spectrum license sales and a pre-closing dividend of $10.40 per share by Array. The Voting Trust maintains control over TDS through its holding of approximately 95.6% of Series A Common Shares. The Trustees intend to maintain voting control of the Issuer and, by extension, Array, while pursuing the proposed consolidation to streamline corporate governance and enhance capital structure flexibility.