AT&T INC. — Director's Dealing 2011

Apr 4, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AT&T INC. (T)
CIK: 0000732717
Period of Report: 2011-03-31

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-03-31	Common Stock	A	630.1176	$30.60	Acquired	23101.7779	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	308441.4537	Direct
Common Stock	7870.3157	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.