AT&T INC. — Director's Dealing 2019

Feb 4, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AT&T INC. (T)
CIK: 0000732717
Period of Report: 2019-01-31

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-01-31	Common Stock	A	8819.241	$30.06	Acquired	411459.2123	Indirect
2019-01-31	Common Stock	M	30472	$23.22	Acquired	1087637	Direct
2019-01-31	Common Stock	F	26603	$29.37	Disposed	1061034	Direct
2019-01-31	Common Stock	A	165775.76	—	Acquired	577234.9723	Indirect
2019-01-31	Common Stock	F	65232.7616	$30.06	Disposed	512002.2107	Indirect
2019-01-31	Common Stock	D	100542.9984	$30.06	Disposed	411459.2123	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-01-31	Employee Stock Option (Right to Buy) - SPDP	$23.22	M	30472	Disposed	2019-02-17	Common Stock (30472)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	6360.8497	Indirect
Common Stock	856128	Indirect

Footnotes

F1: 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.

F2: Distribution of performance shares.

F3: Each performance share is equivalent in value to a share of common stock.

F4: Mandatory tax withholding on distribution of performance shares.

F5: Represents performance shares distributed in cash, after taxes.