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AT&T INC. Director's Dealing 2011

Mar 2, 2011

29786_dirs_2011-03-02_0e140044-f8ae-4f44-b877-e253c491454e.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: 2011-02-28

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

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2011-02-28 Common Stock A 679.4078 $28.38 Acquired 30990.7836 Indirect

Holdings (Non-Derivative)

Security Shares Ownership
Common Stock 302904.4537 Direct
Common Stock 7766.5026 Indirect
Common Stock 5.8259 Indirect
Common Stock 675.242 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.

F2: Includes 10.7296 shares acquired on 2/1/2011 at a price of $27.6516 through reinvested dividends under dividend reinvestment plan.

F3: Includes 314.4290 shares acquired on 2/2/2011 at a price of $27.8204 through reinvested dividends under broker-administered dividend reinvestment plan.

F4: Includes .0847 shares acquired on 2/1/2011 at a price of $27.6516 through reinvested dividends under dividend reinvestment plan.

F5: Includes 10.2777 shares acquired on 2/2/2011 at a price of $27.8204 through reinvested dividends under broker-administered dividend reinvestment plan.