AT&T INC. — Director's Dealing 2010

Jan 5, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AT&T INC. (T)
CIK: 0000732717
Period of Report: 2009-12-31

Reporting Person: WILKINS RAYFORD JR (CEO-AT&T Diversified Bus.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-12-31	Common Stock	A	663.5748	$28.03	Acquired	27907.8519	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	246189.7193	Direct
Common Stock	7208.361	Indirect
Common Stock	5.4106	Indirect
Common Stock	624.8366	Indirect

Footnotes

F1: Automatic purchase of shares by the reporting person with payroll deductions and, to a limited extent, company matching contributions, in the form of deferred stock units settled only in stock on a 1-for-1 basis as provided for in the plan.