AT&T INC. — Director's Dealing 2016

May 3, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AT&T INC. (T)
CIK: 0000732717
Period of Report: 2016-04-29

Reporting Person: Donovan John (CSO&Group Pres-AT&T Tech & Ops)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-04-29	Common Stock	A	720.9704	$38.82	Acquired	2804.4639	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3959.8051	Indirect
Common Stock	186966	Direct
Common Stock	54118	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.