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

AT&T Inc. (T) disclosed an insider transaction involving its Chief Operating Officer.

Rhea-AI Filing Summary

AT&T Inc. (T) disclosed an insider transaction involving its Chief Operating Officer. On 10/31/2025, the officer acquired 2,577.218 shares of common stock at $24.75, reported as an indirect acquisition through a benefit plan.

Following the transaction, reported beneficial holdings were 169,373.971 shares indirect by benefit plan, 8,748.3236 shares indirect by 401(k) (based on a plan statement dated 9/30/2025), and 557,461 shares held directly. The filing notes these were deferred stock units purchased via automatic payroll deductions with partial company matching, settled in stock on a 1‑for‑1 basis.

Insider Trade Summary

Grant/Award: 2,577.218 shares

Grant/Award 3 txns

Insider McElfresh Jeffery S.

Role Chief Operating Officer

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	2,577.218	$24.75	$64K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 169,373.971 shares (Indirect, By Benefit Plan); Common Stock — 8,748.3236 shares (Indirect, By 401(k)); Common Stock — 557,461 shares (Direct)

Footnotes (2)

1. F1. 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. F2. Based on a 401(k) plan statement dated 9/30/2025.

FAQ

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

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

The Chief Operating Officer acquired 2,577.218 common shares on 10/31/2025 at $24.75 via a benefit plan.

How many AT&T shares does the reporting person hold after the transaction?

Reported holdings: 169,373.971 indirect by benefit plan, 8,748.3236 indirect by 401(k) (as of 9/30/2025), and 557,461 direct.

What is the nature of the acquired securities for AT&T (T)?

They are deferred stock units purchased via payroll deductions with partial company matching, settled in stock on a 1‑for‑1 basis.

What was the transaction price reported for AT&T (T)?

The acquisition price reported was $24.75 per share.

What is the reporting person’s role at AT&T (T)?

The reporting person is an Officer, serving as Chief Operating Officer.

Was the AT&T (T) Form 4 filed for a single reporting person?

Yes. It was indicated as Form filed by One Reporting Person.

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

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Accepted by SEC EDGAR 11/04/2025 - 04:15 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^*

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)
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	10/31/2025		A(1)		2,577.218	A	$24.75	169,373.971	I	By Benefit Plan
Common Stock								8,748.3236(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 9/30/2025.

	/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.
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.