AT&T INC. — Director's Dealing 2018

Feb 5, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AT&T INC. (T)
CIK: 0000732717
Period of Report: 2018-02-01

Reporting Person: Quinn Robert W. Jr. (Sr.EVP-External & Leg. Affairs)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-02-01	Common Stock	M	369	—	Acquired	31844.0188	Direct
2018-02-01	Common Stock	F	369	$39.16	Disposed	31475.0188	Direct
2018-02-01	Common Stock	A	6152.64	—	Acquired	21883.4463	Indirect
2018-02-01	Common Stock	F	1921.9108	$39.16	Disposed	19961.5355	Indirect
2018-02-01	Common Stock	D	4230.7292	$39.16	Disposed	15730.8063	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-02-01	Restricted Stock Units (2018)	$	A	8491	Acquired		Restricted Stock Units (8491)	Direct
2018-02-01	Restricted Stock Units (2018)	$	M	369	Disposed		Restricted Stock Units (369)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	6131.6593	Indirect
Common Stock	270	Indirect

Footnotes

F1: Restricted stock units acquired pursuant to the 2016 Incentive Plan. Each unit will convert into one share of issuer's common stock. Units vest and distribute on 1/27/2022. Vesting (but not distribution) is accelerated on retirement eligibility

F2: Mandatory tax withholding on vesting of Restricted Stock Units due to retirement eligibility.

F3: Includes 359.9562 shares acquired on 2/1/2018 at a price of $37.9130 through reinvested dividends under dividend reinvestment plan.

F4: Distribution of performance shares.

F5: Each performance share is equivalent in value to a share of common stock.

F6: Mandatory tax withholding on distribution of performance shares.

F7: Represents performance shares distributed in cash, after taxes.