AT&T Form 4: Director adds deferred units; trust holdings listed

Rhea-AI Filing Summary

AT&T Inc. (T) reported insider activity by a director on a Form 4. On 10/31/2025, the director acquired 1,386.4749 deferred stock units under the AT&T Non‑Employee Director Stock and Deferral Plan. These units are settled in cash equal to the value of one AT&T common share after board service ends, at times elected by the director.

Following the transaction, the director beneficially owned 125,045.0487 deferred stock units indirectly through a benefit plan. Separately, indirect holdings of AT&T common stock were listed as 167,000 shares by a family trust and 395,500 shares by a trust.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider LUCZO STEPHEN J

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Deferred Stock Units	1,386.475	$24.75	$34K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Deferred Stock Units — 125,045.049 shares (Indirect, By Benefit Plan); Common Stock — 167,000 shares (Indirect, By Family Trust)

Footnotes (1)

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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^*

LUCZO STEPHEN J

(Last) (First) (Middle)

208 S. AKARD

(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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

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								167,000	I	By Family Trust
Common Stock								395,500	I	By Trust

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
Deferred Stock Units	(1)	10/31/2025		A		1,386.4749		(1)	(1)	Common Stock	1,386.4749	$24.75	125,045.0487	I	By Benefit Plan

Explanation of Responses:

1. Deferred stock units acquired pursuant to the AT&T Inc. Non-Employee Director Stock and Deferral Plan. After the reporting person ceases to be a director, each unit is paid out in cash equal to the value of one share of AT&T common stock at times elected by the director.

	/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.

FAQ

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

A director acquired 1,386.4749 deferred stock units on 10/31/2025 under the Non‑Employee Director Stock and Deferral Plan.

How are the deferred stock units settled for the AT&T director?

Each unit pays cash equal to the value of one AT&T common share after the director ceases board service, at elected times.

How many deferred stock units does the director hold after the transaction?

The director beneficially owned 125,045.0487 deferred stock units indirectly via a benefit plan.

What indirect common stock holdings were reported for the AT&T director?

Indirect holdings include 167,000 shares by a family trust and 395,500 shares by a trust.

What was the price associated with the deferred stock unit entry?

The filing lists a price of $24.75 for the derivative security line associated with the deferred stock units.

What is the relationship of the reporting person to AT&T (T)?

The reporting person is a Director of AT&T Inc.