AT&T INC. — Director's Dealing 2011

Mar 14, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AT&T INC. (T)
CIK: 0000732717
Period of Report: 2011-03-10

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-03-10	Common Stock	F	2982.1233	$28.61	Disposed	22471.6603	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	308441.4537	Direct
Common Stock	7766.5026	Indirect
Common Stock	5.8259	Indirect
Common Stock	675.242	Indirect

Footnotes

F1: Mandatory tax withholding of shares.

F2: Reflects transfer of 5,537 shares indirectly held in benefit plan to direct ownership.