AT&T COO gets deferred stock unit award

AT&T Inc. Chief Operating Officer Jeffery S. McElfresh acquired 13,018.282 shares of common stock on March 31, 2026 through an indirect grant recorded as deferred stock units at $28.99 per share.

Accepted by SEC EDGAR 04/02/2026 - 05:02 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

AT&T Inc. Chief Operating Officer Jeffery S. McElfresh acquired 13,018.282 shares of common stock on March 31, 2026 through an indirect grant recorded as deferred stock units at $28.99 per share.

The award was made under a benefit plan, using automatic payroll deductions and partial company matching contributions, and will be settled only in stock on a 1-for-1 basis. Following this grant, he indirectly holds 176,993.453 shares through the benefit plan, 9,310.7426 shares in a 401(k), and directly holds 724,034 shares of AT&T common stock.

Insider Trade Summary

Grant/Award: 13,018.282 shares

Grant/Award 1 txn

Insider McElfresh Jeffery S.

Role Chief Operating Officer

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	13,018.282	$28.99	$377K
Holding	Common Stock	--	--	--
Holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 176,993.453 shares (Indirect, By Benefit Plan); Common Stock — 9,310.7426 shares (Indirect, By 401(k)); Common Stock — 724,034 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 2/28/2026.

Key Figures

Deferred stock units granted: 13,018.282 shares Grant reference price: $28.99 per share Benefit plan holdings: 176,993.453 shares +3 more

6 metrics

Deferred stock units granted 13,018.282 shares Grant on March 31, 2026 under benefit plan

Grant reference price $28.99 per share Price per share for deferred stock units

Benefit plan holdings 176,993.453 shares Indirect ownership by benefit plan after transaction

401(k) holdings 9,310.7426 shares Indirect ownership by 401(k) as of 2/28/2026 statement

Direct holdings 724,034.0000 shares Directly owned AT&T common stock after reported transactions

Acquire transactions 1 transaction One grant/award acquisition in this Form 4

Key Terms

deferred stock units, automatic payroll deductions, partial company matching contributions, 401(k) plan, +1 more

5 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.

indirect ownership financial

"total_shares_following_transaction": "176993.4530", "direct_or_indirect": "I""

FAQ

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

What did AT&T (T) COO Jeffery McElfresh report in this Form 4?

AT&T COO Jeffery McElfresh reported an acquisition of 13,018.282 shares of common stock as deferred stock units at $28.99 per share. The transaction reflects a compensation-related grant through a benefit plan rather than an open-market purchase or sale of AT&T shares.

How many AT&T (T) shares does Jeffery McElfresh hold after this transaction?

After the transaction, Jeffery McElfresh holds 176,993.453 shares indirectly via a benefit plan, 9,310.7426 shares indirectly in a 401(k), and 724,034 shares directly. These holdings show a substantial ongoing equity position in AT&T common stock across both retirement and non-retirement accounts.

Was the AT&T (T) COO’s Form 4 a stock purchase or a grant?

The Form 4 reflects a grant or award acquisition, not an open-market stock purchase. McElfresh received 13,018.282 deferred stock units through a benefit plan at $28.99 per share, funded by automatic payroll deductions and partial company matching contributions described in the filing footnotes.

What are deferred stock units in AT&T (T) COO Jeffery McElfresh’s filing?

Deferred stock units in this filing represent AT&T common stock units credited under a benefit plan, purchased via payroll deductions with company matching. They are settled only in AT&T stock on a 1-for-1 basis, aligning part of McElfresh’s compensation with future AT&T share performance.

How is Jeffery McElfresh’s AT&T (T) stock held according to the Form 4?

McElfresh’s AT&T stock is held both directly and indirectly. He holds shares directly in his own name and indirectly through a benefit plan and a 401(k) account. The benefit plan and 401(k) balances are reported as indirect ownership in the Form 4 disclosure.

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

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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 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)
	Chief Operating Officer

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)		13,018.282	A	$28.99	176,993.453	I	By Benefit Plan
Common Stock								9,310.7426(2)	I	By 401(k)
Common Stock								724,034	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 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)