AT&T (NYSE: T) COO adds deferred stock units via benefit and 401(k) plans

Rhea-AI Filing Summary

AT&T Inc. Chief Operating Officer filed a Form 4 reporting routine acquisitions of company equity through benefit plans. On 12/31/2025, the reporting person acquired 704.508 deferred stock units of AT&T common stock at $24.84 per unit, funded by automatic payroll deductions with partial company matching. These deferred stock units are settled only in stock on a 1-for-1 basis.

After this transaction, the reporting person beneficially owned 170,751.037 shares indirectly through a benefit plan, 8,852.6759 shares indirectly through a 401(k) plan based on a statement dated 10/31/2025, and 557,461 shares directly.

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^*

McElfresh Jeffery S.

(Last) (First) (Middle)

208 S. AKARD ST.

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
12/31/2025

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	12/31/2025		A(1)		704.508	A	$24.84	170,751.037	I	By Benefit Plan
Common Stock								8,852.6759(2)	I	By 401(k)
Common Stock								557,461	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

Explanation of Responses:

1. 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.

2. Based on a 401(k) plan statement dated 10/31/2025.

	/s/ Johnell C. Holland, Attorney-in-fact	01/05/2026
	** 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.

FAQ

What insider transaction did AT&T (T) report in this Form 4?

The Form 4 shows AT&T Inc.'s Chief Operating Officer acquired 704.508 deferred stock units of AT&T common stock on 12/31/2025 through a company benefit plan.

At what price were the AT&T deferred stock units acquired by the COO?

The reporting person acquired the deferred stock units at a price of $24.84 per unit of AT&T common stock.

How many AT&T shares does the COO beneficially own after this transaction?

Following the reported transaction, the COO beneficially owned 170,751.037 shares indirectly via a benefit plan, 8,852.6759 shares indirectly via a 401(k) plan, and 557,461 shares directly.

What are the deferred stock units reported by the AT&T COO?

The filing explains the units represent deferred stock units purchased with automatic payroll deductions and partial company matching contributions, and they are settled only in stock on a 1-for-1 basis.

How was the AT&T COO’s 401(k) share balance determined?

The 8,852.6759 shares reported as indirectly owned through a 401(k) plan are based on a 401(k) plan statement dated 10/31/2025.

Is this AT&T Form 4 filed by one or multiple reporting persons?

The Form 4 is indicated as filed by one reporting person, the Chief Operating Officer of AT&T Inc.