AT&T Form 4: Director acquires 3,665.509 DSUs at $24.75

Rhea-AI Filing Summary

AT&T Inc. (T) director reported acquiring 3,665.509 deferred stock units (DSUs) on 10/31/2025 at $24.75 under the Non‑Employee Director Stock and Deferral Plan. After this, 330,589.2847 DSUs are held indirectly by a benefit plan, and 98,100 AT&T common shares are held directly. DSUs are paid in cash after the director leaves the board, equal to the value of one AT&T share at payout.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

ROSE MATTHEW K

(Last) (First) (Middle)

208 S. AKARD STREET

(Street)

DALLAS TX 75202

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
AT&T INC. [ T ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
10/31/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock								98,100	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Deferred Stock Units	(1)	10/31/2025		A		3,665.509		(1)	(1)	Common Stock	3,665.509	$24.75	330,589.2847	I	By Benefit Plan

Explanation of Responses:

1. Deferred stock units acquired pursuant to the AT&T Inc. Non-Employee Director Stock and Deferral Plan. After the reporting person ceases to be a director, each unit is paid out in cash equal to the value of one share of AT&T common stock at times elected by the director.

	/s/ Johnell C. Holland, Attorney-in-fact	11/04/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

What did AT&T (T) disclose in this Form 4?

A director acquired 3,665.509 deferred stock units on 10/31/2025 at $24.75 under AT&T’s Non‑Employee Director Stock and Deferral Plan.

How many DSUs does the director hold after the transaction at AT&T (T)?

Following the transaction, the director held 330,589.2847 DSUs indirectly via a benefit plan.

How many AT&T (T) common shares does the director hold?

The filing lists 98,100 AT&T common shares held directly.

How are the AT&T (T) deferred stock units settled?

Per the plan, each DSU is paid out in cash after the person ceases to be a director, equal to the value of one AT&T common share.

What was the transaction code and date for the AT&T (T) DSUs?

Transaction code A (acquisition), dated 10/31/2025, with an indicated price of $24.75.

What is the ownership form for the AT&T (T) DSUs?

The DSUs are reported as Indirect (I), with the nature of ownership listed as By Benefit Plan.