AT&T INC. — Director's Dealing 2018

Dec 4, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AT&T INC. (T)
CIK: 0000732717
Period of Report: 2018-10-31

Reporting Person: STEPHENSON RANDALL L (Director, Chairman, CEO and President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-10-31	Common Stock	G	239715.84	—	Disposed	856128	Indirect
2018-11-30	Common Stock	A	1959.027	$31.24	Acquired	400495.6125	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	6357.0816	Indirect
Common Stock	916807	Direct

Footnotes

F1: Represents 4 separate gifts of limited partnership interests in the LP to two trusts for the benefit of the reporting person's children. Each gift represents a 7% interest in the LP. However, because the reporting person controls the general partner of the LP, the reporting person is reporting the limited partnership's ownership of the issuer securities in the aggregate. The reporting person disclaims beneficial ownership of AT&T Inc. common stock held by the LP except to the extent of his pecuniary interest therein.

F2: Shares owned by a limited partnership. The general partner of the LP is a limited liability company, of which the reporting person and his spouse are the sole members and which is managed by the reporting person. The five limited partners of the LP are the reporting person, his spouse, and three trusts.

F3: 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.