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: Donovan John (CEO-AT&T Communications, LLC)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-01-31	Common Stock	A	1467.4159	$30.06	Acquired	16076.2871	Indirect
2019-01-31	Common Stock	M	3528	—	Acquired	231880	Direct
2019-01-31	Common Stock	F	3528	$30.06	Disposed	228352	Direct
2019-01-31	Common Stock	A	44919.8	—	Acquired	60996.0871	Indirect
2019-01-31	Common Stock	F	17733.6131	$30.06	Disposed	43262.474	Indirect
2019-01-31	Common Stock	D	27186.1869	$30.06	Disposed	16076.2871	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-01-31	Restricted Stock Units (2019)	$	A	94602	Acquired		Common Stock (94602)	Direct
2019-01-31	Restricted Stock Units (2019)	$	M	3528	Disposed		Common Stock (3528)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	5459.3507	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: Restricted stock units acquired pursuant to the 2018 Incentive Plan. Each unit will convert into one share of issuer's common stock. Units vest and distribute on 1/15/2023. Vesting (but not distribution) is accelerated on retirement eligibility.

F3: Mandatory tax withholding on vesting of Restricted Stock Units due to retirement eligibility.

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.