AT&T (T) CFO Pascal Desroches increases stake with benefit plan stock purchase

Rhea-AI Filing Summary

AT&T Inc. senior executive vice president and CFO Pascal Desroches reported an automatic acquisition of company stock through a benefit plan. On January 30, 2026, he acquired 3,021.549 shares of AT&T common stock at $26.21 per share via a benefit plan using payroll deductions and partial company matching contributions.

After this transaction, he beneficially owned 142,762.507 common shares indirectly through the benefit plan, 6,782.8759 shares indirectly in a 401(k) plan based on a December 31, 2025 statement, and 969,598 shares directly. The deferred stock units in the benefit plan are settled only in stock on a one-for-one basis.

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).

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 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)
	Sr. Exec VP and CFO

3. Date of Earliest Transaction (Month/Day/Year)
01/30/2026

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	01/30/2026		A(1)		3,021.549	A	$26.21	142,762.507	I	By Benefit Plan
Common Stock								6,782.8759(2)	I	By 401(k)
Common Stock								969,598	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 12/31/2025.

	/s/ Johnell C. Holland, Attorney-in-fact	02/03/2026
	** 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.
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FAQ

What insider transaction did AT&T (T) CFO Pascal Desroches report?

AT&T CFO Pascal Desroches reported acquiring 3,021.549 shares of common stock on January 30, 2026 at $26.21 per share. The shares were obtained indirectly through a company benefit plan funded by automatic payroll deductions and partial company matching contributions, settled in stock one-for-one.

How many AT&T (T) shares does Pascal Desroches beneficially own after this Form 4?

After the reported transaction, Pascal Desroches beneficially owns 142,762.507 AT&T common shares indirectly via a benefit plan, 6,782.8759 shares indirectly through a 401(k) plan, and 969,598 shares directly. The 401(k) balance is based on a plan statement dated December 31, 2025.

What was the price paid per AT&T (T) share in the reported acquisition?

The reported acquisition was priced at $26.21 per AT&T common share. These 3,021.549 shares were acquired automatically under a benefit plan using payroll deductions and partial company matching contributions, rather than an open-market discretionary purchase by the executive.

How were the new AT&T (T) shares acquired by the CFO structured?

The new holding represents deferred stock units purchased through a benefit plan with automatic payroll deductions and partial company matching. These units are settled only in AT&T common stock on a one-for-one basis, meaning each unit corresponds to one share upon settlement in the future.

What AT&T (T) retirement-related holdings are disclosed for Pascal Desroches?

The filing discloses 6,782.8759 AT&T common shares held indirectly through a 401(k) plan, based on a statement dated December 31, 2025. In addition, he holds 142,762.507 shares indirectly via a company benefit plan and 969,598 shares directly in his own name.

Is the AT&T (T) CFO’s reported acquisition a direct or indirect ownership change?

The 3,021.549 AT&T shares were acquired as an indirect holding, classified as “By Benefit Plan.” This indicates the position is held through a company benefit arrangement rather than directly, although it is still reported as beneficial ownership for Pascal Desroches.