AT&T (T) CFO Pascal Desroches granted 121,297 deferred stock units via plan

Rhea-AI Filing Summary

AT&T Inc. Sr. Exec VP and CFO Pascal Desroches reported an acquisition of common stock-based units through a company benefit plan. On March 31, 2026, he received 121,297.575 deferred stock units at a reference price of $28.99 per unit, classified as an indirect holding by a benefit plan.

The filing explains these deferred stock units were purchased with automatic payroll deductions and partial company matching contributions and are settled only in stock on a 1-for-1 basis. The report also lists updated holdings, including indirect shares held through a 401(k) plan and a limited partnership, and direct ownership of common stock.

Insights

Equity compensation analyst

Routine deferred stock award increases CFO’s equity alignment with AT&T.

The filing shows Pascal Desroches, AT&T’s Sr. Exec VP and CFO, acquiring 121,297.575 deferred stock units via a benefit plan at a reference price of $28.99. Code A indicates a grant or award, not an open-market purchase.

The footnote notes these units come from automatic payroll deductions plus partial company matching and settle only in stock on a 1-for-1 basis. This structure ties a portion of the CFO’s compensation directly to AT&T’s share performance, which is typical for senior executives.

The same report lists substantial direct and indirect common stock holdings, including shares held via a 401(k) and a limited partnership, providing a snapshot of the CFO’s overall equity exposure. As a compensation-related grant, it is generally viewed as a routine, neutral development rather than a strong trading signal.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider Desroches Pascal

Role Sr. Exec VP and CFO

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	121,297.575	$28.99	$3.52M
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 124,282.543 shares (Indirect, By Benefit Plan); Common Stock — 724,500 shares (Direct)

Footnotes (1)

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. Based on a 401(k) plan statement dated 2/28/2026.

Key Figures

Deferred stock units granted: 121,297.575 units Reference price per unit: $28.99 per unit Benefit plan holdings after grant: 124,282.543 shares/units +3 more

6 metrics

Deferred stock units granted 121,297.575 units Grant/award acquisition on March 31, 2026

Reference price per unit $28.99 per unit Deferred stock unit acquisition price

Benefit plan holdings after grant 124,282.543 shares/units Indirect ownership by benefit plan after transaction

401(k) plan holdings 7,271.4136 shares Indirect ownership by 401(k) as of plan statement

Direct common stock holding 724,500.0000 shares Directly owned common stock position reported

Limited partnership holding 352,000.0000 shares Indirect common stock ownership by LP

Key Terms

deferred stock units, automatic payroll deductions, partial company matching contributions, 401(k) plan, +2 more

6 terms

deferred stock units financial

"Represents deferred stock units purchased by the reporting person with automatic payroll deductions"

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.

automatic payroll deductions financial

"purchased by the reporting person with automatic payroll deductions and partial company matching contributions"

partial company matching contributions financial

"with automatic payroll deductions and partial company matching contributions"

401(k) plan financial

"Based on a 401(k) plan statement dated 2/28/2026."

A 401(k) plan is a workplace retirement account that lets employees set aside part of their pay into a tax-advantaged savings pot, often with employers adding matching contributions — like a workplace piggy bank for future income. It matters to investors because the amount people save and how employers fund these plans influence consumer spending, corporate payroll costs and the flow of money into financial markets, which can affect stock prices and company valuations.

settled only in stock on a 1-for-1 basis financial

"Deferred stock units are settled only in stock on a 1-for-1 basis."

benefit plan financial

"direct_or_indirect: I, nature_of_ownership: By Benefit Plan"

Form 4 Insider Transactions: What Each Field Means →

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^*

Desroches Pascal

(Last) (First) (Middle)

208 S. AKARD ST.

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Sr. Exec VP and CFO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/31/2026

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
Common Stock	03/31/2026		A(1)		121,297.575	A	$28.99	124,282.543	I	By Benefit Plan
Common Stock								7,271.4136(2)	I	By 401(k)
Common Stock								724,500	D
Common Stock								352,000	I	By LP

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 2/28/2026.

	/s/ Johnell C. Holland, Attorney-in-fact	04/02/2026
	** 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)

FAQ

What did AT&T (T) CFO Pascal Desroches report in this Form 4?

Pascal Desroches reported receiving a grant of deferred stock units tied to AT&T common stock. The award reflects equity-based compensation credited through a company benefit plan, rather than an open-market purchase, and updates his reported direct and indirect ownership positions.

How many AT&T (T) deferred stock units did the CFO acquire?

He acquired 121,297.575 deferred stock units linked to AT&T common stock. These units were recorded at a reference price of $28.99 per unit and represent compensation-related equity, not a traditional market buy order on an exchange.

How are the AT&T (T) deferred stock units in this filing funded?

The deferred stock units are funded through automatic payroll deductions and partial company matching contributions. According to the disclosure, these units are part of a benefit plan and are ultimately settled only in AT&T stock on a one-for-one share basis.

Does this AT&T (T) Form 4 show any stock sales by the CFO?

The report does not show any open-market sales; the primary coded transaction is a grant or award acquisition. Additional line items reflect updated holdings in various accounts, such as a 401(k) plan and a limited partnership, rather than disposals.

What types of AT&T (T) holdings does Pascal Desroches report?

He reports indirect holdings through a benefit plan, including the new deferred stock units, as well as indirect shares in a 401(k) plan. The filing also lists direct ownership of common stock and additional indirect ownership through a limited partnership structure.

Are the AT&T (T) deferred stock units settled in cash or stock?

The deferred stock units are settled only in stock on a one-for-one basis. This means each unit ultimately converts into a share of AT&T common stock, reinforcing the long-term equity link between the executive’s compensation and shareholder value.