AT&T INC. — Director's Dealing 2022

Feb 1, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AT&T INC. (T)
CIK: 0000732717
Period of Report: 2022-01-27

Reporting Person: McElfresh Jeffery S. (CEO, AT&T Communications, LLC)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-01-27	Common Stock	A	78037.9	—	Acquired	148134.6483	Indirect
2022-01-27	Common Stock	F	28874.023	$24.12	Disposed	119260.6253	Indirect
2022-01-27	Common Stock	D	32448.877	$24.12	Disposed	86811.7483	Indirect
2022-01-27	Common Stock	D	16715	—	Disposed	70096.7483	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2022-01-27	Restricted Stock Units (2022)	$	A	103648	Acquired		Common Stock (103648)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	112707	Direct
Common Stock	4265.2653	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 16,715 shares owned indirectly by benefit plan to direct ownership due to distribution of performance shares.

F6: Based on a 401(k) plan statement dated as of 12/31/2021.

F7: 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.