AT&T INC. — Director's Dealing 2022

Dec 2, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AT&T INC. (T)
CIK: 0000732717
Period of Report: 2022-11-30

Reporting Person: McElfresh Jeffery S. (Chief Operating Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-11-30	Common Stock	A	1244.8132	$19.28	Acquired	129092.3184	Indirect
2022-11-30	Common Stock	M	4717	—	Acquired	131860	Direct
2022-11-30	Common Stock	F	4717	$19.28	Disposed	127143	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2022-11-30	Restricted Stock Units (2022)	$	M	4717	Disposed		Common Stock (4717)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	5206.9467	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: Reflects an anti-dilution adjustment made in connection with the WarnerMedia/Discovery transaction pursuant to the terms of the 2018 Incentive Plan.

F3: 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 1/15/2023, 1/15/2024, and 1/15/2025. Vesting (but not distribution) is accelerated on retirement eligibility.

F4: Mandatory tax withholding on vested Restricted Stock Units.

F5: Based on a 401(k) plan statement dated 10/31/2022.