AT&T director awarded deferred stock units

AT&T Inc. director William E. Kennard received an award of deferred stock units as compensation.

Rhea-AI Filing Summary

AT&T Inc. director William E. Kennard received an award of deferred stock units as compensation. On this Form 4, he acquired about 1,424 deferred stock units tied to AT&T common stock, held indirectly through a benefit plan.

Following this grant, his indirect holdings under the plan total roughly 135,484 deferred stock units. According to the plan terms, after he 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 he previously elected.

Insider Trade Summary

Grant/Award: 1,423.7205 shares

Grant/Award 1 txn

Insider Kennard William E

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Deferred Stock Units	1,423.7205	$26.13	$37K

Holdings After Transaction: Deferred Stock Units — 135,484.3184 contracts (Indirect, By Benefit Plan)

Footnotes (1)

1. F1. 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.

Key Figures

Deferred stock units granted: 1,424 units Reference price per unit: $26.13 per unit Deferred stock units held after grant: 135,484 units +1 more

4 metrics

Deferred stock units granted 1,424 units Grant/award acquisition coded 'A'

Reference price per unit $26.13 per unit Value used for this deferred stock unit award

Deferred stock units held after grant 135,484 units Total indirect holdings by benefit plan after transaction

Conversion price $0.00 Deferred stock units carry no exercise price

Key Terms

Deferred Stock Units, Grant, award, or other acquisition, Non-Employee Director Stock and Deferral Plan, Indirect ownership

4 terms

Deferred Stock Units financial

"security_title: "Deferred Stock Units" and footnote describing payout terms"

Deferred stock units are promises from a company to give an employee shares of stock at a future date, often after certain conditions are met or after leaving the company. They function like a form of delayed compensation, allowing employees to earn shares over time. For investors, they represent potential future ownership in the company, but do not provide immediate voting rights or dividends until the shares are actually received.

Grant, award, or other acquisition financial

"transaction_code_description: "Grant, award, or other acquisition""

Non-Employee Director Stock and Deferral Plan financial

"acquired pursuant to the AT&T Inc. Non-Employee Director Stock and Deferral Plan"

Indirect ownership financial

"direct_or_indirect: "I" and nature_of_ownership: "By Benefit Plan""

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did AT&T (T) director William E. Kennard report on this Form 4?

William E. Kennard reported an acquisition of deferred stock units as compensation. He received about 1,424 units tied to AT&T common stock, held indirectly through a benefit plan, increasing his total deferred stock unit holdings under the plan to roughly 135,484 units.

Is William E. Kennard buying or selling AT&T (T) shares in this filing?

The filing shows a compensation-related award, not an open-market trade. Kennard acquired deferred stock units coded as a grant or award, increasing his indirect position under a benefit plan, with no reported open-market buying or selling of AT&T common stock.

How many deferred stock units does William E. Kennard now hold at AT&T (T)?

After this transaction, Kennard holds roughly 135,484 deferred stock units indirectly. These units are maintained under an AT&T non-employee director stock and deferral plan, separate from any directly held AT&T common shares that may exist outside this specific reporting structure.

How are William E. Kennard’s AT&T (T) deferred stock units settled?

The deferred stock units are settled in cash after Kennard ceases to be a director. Each unit pays an amount equal to the value of one share of AT&T common stock, at times he elected under the non-employee director stock and deferral plan.

What does the indirect ownership by benefit plan mean for AT&T (T) director Kennard?

Indirect ownership by benefit plan means the deferred stock units are held through a company plan rather than directly. They represent a deferred cash-based interest linked to AT&T’s common stock value, awarded as part of non-employee director compensation, not direct share purchases.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/04/2026 - 04:08 PM Learn about SEC filing dates

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Kennard William E

(Last) (First) (Middle)

208 S. AKARD STREET

(Street)

DALLAS TEXAS 75202

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/30/2026

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

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

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

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

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)	04/30/2026		A		1,423.7205		(1)	(1)	Common Stock	1,423.7205	$26.13	135,484.3184	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	05/04/2026
	** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)