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: Lee Lori M (Sr.EVP & Global Mktg. Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-02-01	Common Stock	A	39062.75	—	Acquired	47625.6414	Indirect
2018-02-01	Common Stock	F	15371.1922	$39.16	Disposed	32254.4492	Indirect
2018-02-01	Common Stock	D	23691.5578	$39.16	Disposed	8562.8914	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-02-01	Restricted Stock Units (2018)	$	A	20052	Acquired		Restricted Stock Units (20052)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	4804.6017	Indirect
Common Stock	18151	Direct
Common Stock	65626	Indirect

Footnotes

F1: Distribution of performance shares.

F2: Each performance share is equivalent in value to a share of common stock.

F3: Mandatory tax withholding on distribution of performance shares.

F4: Represents performance shares distributed in cash, after taxes.

F5: 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