AT&T INC. — Director's Dealing 2021

Feb 1, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AT&T INC. (T)
CIK: 0000732717
Period of Report: 2021-01-28

Reporting Person: Lee Lori M (CEO-AT&T LatAm&GlobalMktgOfcr)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-01-28	Common Stock	A	57149.15	—	Acquired	64445.1311	Indirect
2021-01-28	Common Stock	F	21145.1855	$28.80	Disposed	43299.9456	Indirect
2021-01-28	Common Stock	D	23762.9645	$28.80	Disposed	19536.9811	Indirect
2021-01-28	Common Stock	D	12241	—	Disposed	7295.9811	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-01-28	Restricted Stock Units (2021)	$	A	34939	Acquired		Common Stock (34939)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	7159.1019	Indirect
Common Stock	26467	Direct
Common Stock	153045	Indirect

Footnotes

F1: Total performance shares distributed.

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 portion of the performance shares distributed in cash, after taxes.

F5: Reflects transfer of 12,241 shares owned indirectly by benefit plan to direct ownership due to distribution of performance shares.

F6: Restricted stock units acquired pursuant to the 2018 Incentive Plan. Each unit will convert into one share of issuer's common stock. One-third of the units vests and distributes on each of 1/15/2022, 1/15/2023, and 1/15/2024. Vesting (but not distribution) is accelerated on retirement eligibility.