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AT&T INC. Director's Dealing 2010

Nov 3, 2010

29786_dirs_2010-11-03_974f2f74-83ea-4bcb-b7be-bd23f812f47b.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AT&T INC. (T)
CIK: 0000732717
Period of Report: 2010-11-01

Reporting Person: KELLY JAMES P (Director)

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2010-11-01 Phantom Deferral Shares $0.0000 A 40.2831 Acquired Common Stock (40.2831) Indirect

Holdings (Non-Derivative)

Security Shares Ownership
Common Stock 5967.0000 Direct

Footnotes

F1: Dividend equivalents reinvested pursuant to various BellSouth Corporation director deferral plans. Upon distribution, each unit is converted into the equivalent value in cash of one share of AT&T common stock.