[Form 4] AT&T INC. Insider Trading Activity

Rhea-AI Filing Summary

Sabrina Sanders, listed as SVP-ChiefActngOfcr&Controller of AT&T Inc. (T), reported an internal acquisition on 09/30/2025. The filing shows an acquisition of 110.482 deferred stock units at a reported price of $28.24. The deferred stock units were purchased via automatic payroll deductions with partial company matching and are settled only in stock on a 1-for-1 basis.

The Form 4 also discloses other reported holdings tied to benefit plans: 2,420.955 shares shown as indirect ownership by a benefit plan, 5,035.6176 shares indicated from a 401(k) plan (based on a statement dated 08/31/2025), and 153,257 shares listed as direct ownership. The form is signed by an attorney-in-fact on 10/02/2025.

Positive

• 110.482 deferred stock units purchased with payroll deductions (settle 1-for-1 in stock)
• Disclosure includes a 401(k) plan statement dated 08/31/2025 supporting holdings
• Form 4 is signed and dated (10/02/2025), meeting filing formalities

Negative

• None.

Insights

Corporate Governance Analyst

Officer acquired 110.482 deferred stock units, settled 1-for-1 in AT&T common stock.

The 09/30/2025 transaction shows an officer-level payroll-based purchase of deferred stock units at $28.24. Because these units settle only in stock, they increase the officer's future equity exposure rather than provide immediate cash.

Disclosure of separate plan balances—2,420.955 indirect plan shares, 5,035.6176 from a 401(k) statement dated 08/31/2025, and 153,257 direct shares—helps reconcile total reported beneficial ownership across accounts.

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
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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).

1. Name and Address of Reporting Person^*

Sabrina Sanders 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)
	SVP-ChiefActngOfcr&Controller

3. Date of Earliest Transaction (Month/Day/Year)
09/30/2025

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	09/30/2025		A(1)		110.482	A	$28.24	2,420.955	I	By Benefit Plan
Common Stock								5,035.6176(2)	I	By 401(k)
Common Stock								153,257	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 8/31/2025.

	/s/ Bryan Hough, Attorney-in-fact	10/02/2025
	** 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.
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 did AT&T insider Sabrina Sanders purchase on 09/30/2025 (T)?

She acquired 110.482 deferred stock units on 09/30/2025 at a reported price of $28.24.

How are the deferred stock units settled for Sabrina Sanders?

The filing states deferred stock units are settled only in stock on a 1-for-1 basis.

What other holdings does the Form 4 report for Sabrina Sanders (T)?

The Form 4 lists 2,420.955 shares as indirect (benefit plan), 5,035.6176 as 401(k) plan holdings, and 153,257 as direct shares.

What date supports the 401(k) balance reported on the Form 4?

The 401(k) balance is based on a plan statement dated 08/31/2025.

When was the Form 4 signed and filed?

The signature by attorney-in-fact is dated 10/02/2025.