AT&T INC. - Director's Dealing 2012

SEC Form 3 — Initial Statement of Beneficial Ownership

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

Reporting Person: Geisse Andrew M (Sr Exec VP ATT Bus & Home Sol)

Security	Exercise Price	Expiration	Underlying	Ownership
Employee Stock Option (Right to Buy) - SPDP	$37.23	2017-02-15	Common Stock (748)	Direct
Employee Stock Option (Right to Buy) - SPDP	$40.28	2017-06-15	Common Stock (739)	Direct
Employee Stock Option (Right to Buy) - SPDP	$37.88	2018-02-15	Common Stock (1078)	Direct
Employee Stock Option (Right to Buy) - SPDP	$36.17	2018-06-16	Common Stock (823)	Direct
Employee Stock Option (Right to Buy) - SPDP	$23.22	2019-02-17	Common Stock (1622)	Direct
Employee Stock Option (Right to Buy) - SPDP	$24.63	2019-06-15	Common Stock (1312)	Direct
Employee Stock Option (Right to Buy) - SPDP	$25.32	2020-02-16	Common Stock (1853)	Direct
Employee Stock Option (Right to Buy) - SPDP	$25.54	2020-06-15	Common Stock (1317)	Direct
Employee Stock Option (Right to Buy) - SPDP	$28.24	2021-02-15	Common Stock (1871)	Direct
Employee Stock Option (Right to Buy) - SSP	$36.96	2012-02-01	Common Stock (2495)	Direct
Employee Stock Option (Right to Buy) - SSP	$33.15	2012-06-01	Common Stock (1334)	Direct
Restricted Stock Units	$0		Common Stock (15253)	Direct
Restricted Stock Units	$0		Common Stock (8374)	Direct
Restricted Stock Units	$0		Common Stock (8373)	Direct
Restricted Stock Units (2012)	$0		Common Stock (14525)	Direct

F1: Units vest on 1/27/2015. Vesting (but not distribution) is accelerated on retirement eligibility.

F2: Units vest 1/2 on 1/28/2013 and 1/2 on 1/28/2014. Vesting (but not distribution) is accelerated on retirement eligibility.

F3: Units vest on 01/26/2016. Vesting (but not distribution) is accelerated on retirement eligibility.