AT&T INC. — Director's Dealing 2012

Mar 2, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AT&T INC. (T)
CIK: 0000732717
Period of Report: 2012-02-29

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-02-29	Common Stock	A	630.3236	$30.59	Acquired	32575.6139	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	345875.7683	Direct
Common Stock	8160.665	Indirect
Common Stock	6.1514	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.

F2: Includes 16.6939 shares acquired on 2/1/2012 at a price of $29.4369 through reinvested dividends under dividend reinvestment plan.

F3: Includes .0860 shares acquired on 2/1/2012 at a price of $29.4369 through reinvested dividends under dividend reinvestment plan