Form 8-K

8-K — ARRAY DIGITAL INFRASTRUCTURE, INC.

Accession: 0000821130-26-000040

Filed: 2026-06-01

Period: 2026-06-01

CIK: 0000821130

SIC: 4812 (RADIO TELEPHONE COMMUNICATIONS)

Item: Completion of Acquisition or Disposition of Assets

Item: Other Events

Item: Financial Statements and Exhibits

Documents

8-K — ad-20260601.htm (Primary)

EX-99.1 (ad8-k2026verizonex991.htm)

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8-K

8-K (Primary)

Filename: ad-20260601.htm · Sequence: 1

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 1, 2026

ARRAY DIGITAL INFRASTRUCTURE, INC.

(Exact name of registrant as specified in its charter)

Delaware 001-09712 62-1147325

(State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer Identification No.)

500 West Madison Street, Suite 810 , Chicago, Illinois 60661

(Address of principal executive offices and zip code)

Registrant's telephone number, including area code: (866) 573-4544

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol Name of each exchange on which registered

Common Shares, $1 par value AD New York Stock Exchange

6.25% Senior Notes due 2069 UZD New York Stock Exchange

5.50% Senior Notes due 2070 UZE New York Stock Exchange

5.50% Senior Notes due 2070 UZF New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

☐

Emerging growth company

☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Item 2.01. Completion of Acquisition or Disposition of Assets

On June 1, 2026, Array Digital Infrastructure, Inc. (f/k/a United States Cellular Corporation) (“Array”) and certain subsidiaries of Array 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, by and among Array, certain subsidiaries of Array named therein and Verizon (the “Closing”).

The purchase price received by Array at the Closing was $1.0 billion, 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 and holders of Array’s Series A Common Stock of $11.00 per share payable in cash to the stockholders of record as of June 11, 2026. The payment date in respect of the dividend is scheduled for June 25, 2026.

Press Release

On June 1, 2026, Array issued a press release announcing the Closing and related matters. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated into this Item 8.01 in this Current Report on Form 8-K by reference.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits

Exhibit Number Description of Exhibits

99.1

Press Release, dated June 1, 2026.

104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

ARRAY DIGITAL INFRASTRUCTURE, INC.

Date: June 1, 2026 By: /s/ Vicki L. Villacrez

Vicki L. Villacrez

Executive Vice President, Chief Financial Officer and Treasurer

EX-99.1

Filename: ad8-k2026verizonex991.htm · Sequence: 2

Document

Exhibit 99.1

Array completes sale of select spectrum assets to Verizon for $1.0 billion

Board declares special dividend of $11.00 per share

CHICAGO (June 1, 2026) – Array Digital Infrastructure, Inc. (NYSE: AD) (ArraySM) today announced the successful closing of the previously announced agreement with Verizon (NYSE: VZ) to sell a portion of the Company’s retained spectrum licenses for total consideration of $1.0 billion.

Additionally, certain spectrum sales to T-Mobile totaling $168M, primarily related to 700MHz and 600MHz, were completed in May.

These transactions further the objective announced on May 28, 2024, to opportunistically monetize remaining spectrum following the sale of the T-Mobile wireless operation which closed on August 1, 2025.

Considering the closing of the Verizon and other transactions alongside current cash on hand, the Array Board of Directors has declared a special cash dividend of $11.00 per Common Share and Series A Common Share. The special dividend is payable on June 25, 2026, to shareholders of record on June 11, 2026. While future dividend declarations are subject to the Board’s discretion, the Company at this time does not anticipate that any additional dividends will be paid during 2026.

“We have made significant progress in our spectrum monetization efforts and are pleased with the value realized in this sale,” said Anthony Carlson, Array President and CEO. “Further, as we have done with prior asset sale proceeds, we are returning value to our shareholders in the form of a special dividend.”

The declaration of this special dividend is unrelated to the special committee of the Array Board of Directors’ evaluation of the non-binding proposal, dated May 7, 2026, from Telephone and Data Systems, Inc. (NYSE: TDS) (“TDS”) to acquire all of the outstanding common shares of Array not currently owned by TDS, which was previously announced on May 8, 2026, and the special committee has not made any decision with respect to such proposal at this time.

Note

Array currently expects that when 1099-DIVs are issued for 2026, this special dividend will be largely designated as an ordinary and qualified dividend, subject to the shareholder’s holding period requirements.

Advisors

Citigroup Global Markets Inc. served as lead financial advisor and Centerview Partners LLC served as financial advisor to Telephone and Data Systems, Inc. (TDS) in connection with the Verizon transaction. TD Securities (USA) LLC and Wells Fargo also served as financial advisors to TDS. Wilkinson Barker Knauer, LLP served as lead transactional and FCC regulatory counsel to both TDS and Array. In addition, Clifford Chance LLP served as regulatory advisor to both TDS and Array and Sidley Austin LLP served as legal advisor to TDS. PJT Partners LP served as financial advisor and Cravath, Swaine & Moore LLP served as legal advisor to the independent directors of Array.

About Array

Array Digital Infrastructure, Inc. is a leading owner and operator of shared wireless communications infrastructure in the United States. With over 4,400 cell towers in locations from coast to coast, Array enables the deployment of 5G and other wireless technologies throughout the country. Headquartered in Chicago, Array is approximately 82% owned by TDS.

Contacts

Karen Samples, Corporate Finance and Investor Relations Senior Manager

karen.samples@tdsinc.com

John Toomey, TDS Treasurer and Vice President – Corporate Relations

john.toomey@tdsinc.com

For more information about Array, visit: investors.arrayinc.com

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: All information set forth in this news release, except historical and factual information, represents forward-looking statements. The forward-looking statements include the statement regarding Array’s expectation regarding the designation of the special dividend on 1099-DIV. This statement relies on the company’s current assumptions and involves uncertainties that could cause a different result. The ultimate designation of the special dividend depends on several factors including Array’s 2026 taxable income and the amount and timing of any additional special dividends issued by Array in 2026. The forward-looking statements also include the statement that the Company at this time does not anticipate that any additional dividends will be paid during 2026. The amount and timing of any dividends is subject to business, economic and other relevant factors.

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