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

Rhea-AI Filing Summary

Sabrina Sanders, listed as SVP-ChiefActngOfcr&Controller of AT&T Inc. (T), acquired 69,469 restricted stock units (RSUs) on 09/23/2025 under the company's 2018 Incentive Plan. Each unit converts into one share of AT&T common stock and the units vest and will distribute on 09/30/2029. Following the reported transaction, Ms. Sanders is shown as beneficially owning 69,469 shares directly from these units. The Form 4 was submitted on behalf of the reporting person by an attorney-in-fact.

Positive

• 69,469 RSUs granted to a senior officer, increasing direct alignment with shareholder outcomes
• Clear vesting schedule: units convert 1:1 to common stock and vest/distribute on 09/30/2029

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: A routine long-term equity award was reported for a senior officer, creating direct ownership exposure to the issuer.

The filing documents a non-derivative grant of 69,469 restricted stock units to an executive officer under the 2018 Incentive Plan, converting 1:1 into common shares and vesting on 09/30/2029. This is a standard compensation mechanism designed to align executive incentives with shareholder returns over multi-year horizons. The disclosure is clear on ownership form (direct) and the vesting/distribution schedule, which allows investors to see timing of potential share issuance.

Compensation Analyst

TL;DR: The reported RSU grant is a deferred equity award with a multi-year vesting date, consistent with long-term incentive practices.

The instrument is restricted stock units that convert one-for-one into common stock and vest on a specified future date. The size of the award—69,469 units—is explicitly reported and will translate into the same number of shares at distribution. The filing does not disclose grant valuation, performance conditions, or tax treatment, so assessment of dilution or cost to the company cannot be determined from this document alone.

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).

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)
09/23/2025

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

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
Restricted Stock Units (2025)	(1)	09/23/2025		A		69,469		(1)	(1)	Common Stock	69,469	(1)	69,469	D

Explanation of Responses:

1. Restricted stock units acquired pursuant to the 2018 Incentive Plan. Each unit will convert into one share of issuer's common stock. Units vest and distribute on 9/30/2029.

	/s/ Bryan Hough, Attorney-in-fact	09/25/2025
	** 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 acquire?

She acquired 69,469 restricted stock units (RSUs) under the 2018 Incentive Plan.

When was the RSU transaction for AT&T (T) reported to have occurred?

The transaction date reported on the form is 09/23/2025.

When will the RSUs vest and convert into AT&T common stock?

The units vest and will distribute on 09/30/2029, converting one-for-one into common shares.

How many shares will the RSUs convert into for AT&T (T)?

Each RSU converts into one share, so the 69,469 RSUs will convert into 69,469 shares upon distribution.

Is the reported ownership direct or indirect?

The filing shows direct (D) beneficial ownership for the reported RSUs.