AT&T INC. — Director's Dealing 2012

Feb 2, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AT&T INC. (T)
CIK: 0000732717
Period of Report: 2012-01-31

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-01-31	Common Stock	A	1117.7047	$29.41	Acquired	31945.2903	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	345861.0744	Direct
Common Stock	8059.7595	Indirect
Common Stock	6.0654	Indirect
Common Stock	704.7338	Indirect

Footnotes

F1: Represents deferred stock units purchased by the reporting person with automatic payroll deductions and partial company matching contributions. Deferred stock units are settled only in stock on a 1-for-1 basis.