AT&T INC. — Director's Dealing 2010

Mar 12, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AT&T INC. (T)
CIK: 0000732717
Period of Report: 2010-03-10

Reporting Person: CALLAWAY JAMES W (Sr.Exec.VP-Exec. Oprs.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-03-10	Common Stock	F	787.5866	$25.52	Disposed	262.397	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	45425	Direct
Common Stock	32130.205	Indirect
Common Stock	204932	Indirect

Footnotes

F1: Represents mandatory tax withholding of shares.

F2: Reflects transfer of 1,461 shares owned indirectly in benefit plan to direct ownership.