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AT&T INC. Director's Dealing 2011

May 3, 2011

29786_dirs_2011-05-03_52da5e9f-c8da-4ec2-a666-2183085396a8.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: 2011-04-29

Reporting Person: COUGHLIN CATHERINE M (Sr.EVP & Global Mktg. Officer)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2011-04-26 Common Stock G 5000 Disposed 62053 Indirect
2011-04-29 Common Stock A 638.2231 $31.12 Acquired 38120.7932 Indirect

Holdings (Non-Derivative)

Security Shares Ownership
Common Stock 1.4898 Direct
Common Stock 1622.4366 Indirect

Footnotes

F1: Represents shares purchased by the reporting person with automatic deductions from payroll 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.