AT&T INC. — Director's Dealing 2019

May 24, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AT&T INC. (T)
CIK: 0000732717
Period of Report: 2019-05-23

Reporting Person: STEPHENS JOHN JOSEPH (Sr. Exec. VP and CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-05-23	Common Stock	M	16973	$24.63	Acquired	451157	Direct
2019-05-23	Common Stock	F	14534	$32.28	Disposed	436623	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-05-23	Employee Stock Option (Right to Buy) - SPDP	$24.63	M	16973	Disposed	2019-06-15	Common Stock (16973)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	6143.5208	Indirect
Common Stock	148056.6819	Indirect
Common Stock	163302	Indirect