AT&T INC. — Director's Dealing 2016

Jan 28, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AT&T INC. (T)
CIK: 0000732717
Period of Report: 2016-01-26

Reporting Person: BLASE WILLIAM A JR (Sr. Exec. VP-Human Resources)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-01-26	Common Stock	M	43989	—	Acquired	229547	Direct
2016-01-26	Common Stock	F	13300	$35.40	Disposed	216247	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-01-26	Restricted Stock Units (2012)	$	M	43989	Disposed		Common Stock (43989)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	5947.7535	Indirect
Common Stock	81324.9672	Indirect
Common Stock	63228	Indirect

Footnotes

F1: Restricted stock units acquired pursuant to the 2011 Incentive Plan. Each unit will convert into one share of issuer's common stock. Units vest and distribute on 1/26/2016. Vesting (but not distribution) is accelerated on retirement eligibility.

F2: Mandatory tax withholding on distribution of Restricted Stock Units.