AT&T INC. — Director's Dealing 2023

Jan 30, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AT&T INC. (T)
CIK: 0000732717
Period of Report: 2023-01-26

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-01-26	Common Stock	A	148911	—	Acquired	279306.9578	Indirect
2023-01-26	Common Stock	F	58596.4785	$20.00	Disposed	220710.4793	Indirect
2023-01-26	Common Stock	D	59608.5215	$20.00	Disposed	161101.9578	Indirect
2023-01-26	Common Stock	D	30706	—	Disposed	130395.9578	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-01-26	Restricted Stock Units (2023)	$	A	112500	Acquired		Common Stock (112500)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	5206.3678	Indirect
Common Stock	229637	Direct

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 30,706 shares owned indirectly by benefit plan to direct ownership due to distribution of performance shares.

F6: Based on a 401(k) plan statement dated 12/30/2022.

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 1/15/2024, 1/15/2025, and 1/15/2026. Vesting (but not distribution) is accelerated on retirement eligibility.