AT&T (NYSE: T) COO adds 504 deferred stock units in benefit plan grant

Rhea-AI Filing Summary

AT&T Inc. Chief Operating Officer Jeffery S. McElfresh reported a compensation-related acquisition of common stock units. On 2026-05-29, he received 504.032 shares of AT&T common stock credited to a benefit plan at $24.80 per share, classified as an indirect holding "By Benefit Plan." This is recorded as a grant or award rather than an open-market purchase.

Following the reported updates, McElfresh directly holds 724,034 AT&T common shares. Indirectly, he holds 179,733.83 shares through a benefit plan and 9,695.1811 shares through a 401(k) plan, where balances are based on a April 30, 2026 plan statement. The filing shows routine compensation and retirement-plan activity, not open-market buying or selling.

Insights

Equity compensation analyst

Routine equity grant and plan updates with no open-market trading signal.

The filing shows AT&T COO Jeffery McElfresh receiving 504.032 common shares via a benefit plan at $24.80 per share, coded as a grant or award. Footnotes explain these are deferred stock units funded by payroll deductions plus partial company matching, settled 1-for-1 in stock.

No purchases or sales were reported; two additional lines simply update direct and 401(k) holdings as of a April 30, 2026 plan statement. With 724,034 shares held directly and sizable indirect positions, the transactions appear to be standard compensation and retirement-plan activity rather than discretionary trading that would materially affect an investment view.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider McElfresh Jeffery S.

Role Chief Operating Officer

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	504.032	$24.80	$12K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 179,733.83 shares (Indirect, By Benefit Plan); Common Stock — 724,034 shares (Direct, null)

Footnotes (1)

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. Based on a 401(k) plan statement dated 4/30/2026.

Key Figures

Equity grant size: 504.032 shares Grant reference price: $24.80 per share Direct holdings after update: 724,034 shares +2 more

5 metrics

Equity grant size 504.032 shares Benefit plan grant of common stock

Grant reference price $24.80 per share Price per share for benefit plan acquisition

Direct holdings after update 724,034 shares Common stock held directly after transactions

Benefit plan holdings after update 179,733.83 shares Indirect holdings by benefit plan

401(k) holdings 9,695.1811 shares Indirect holdings by 401(k) as of April 30, 2026

Key Terms

deferred stock units, automatic payroll deductions, 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

"deferred stock units purchased by the reporting person with automatic payroll deductions"

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 4/30/2026"

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.

settled only in stock on a 1-for-1 basis financial

"Deferred stock units are settled only in stock on a 1-for-1 basis"

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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^*

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)
05/29/2026

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	05/29/2026		A(1)		504.032	A	$24.8	179,733.83	I	By Benefit Plan
Common Stock								9,695.1811(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 4/30/2026.

	/s/ Johnell C. Holland, Attorney-in-fact	06/02/2026
	** 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)

FAQ

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

He reported receiving 504.032 AT&T common shares via a benefit plan grant at $24.80 per share, plus updated direct and plan-based holdings, reflecting routine compensation and retirement-plan activity rather than open-market buying or selling.

Was the AT&T (T) Form 4 a stock purchase or sale by the COO?

No, it was not an open-market purchase or sale. The key transaction is a grant or award of 504.032 common shares through a benefit plan, classified as an acquisition related to compensation, with no reported discretionary buying or selling.

How many AT&T (T) shares does the COO hold after these transactions?

After the reported updates, he holds 724,034 AT&T common shares directly. Indirectly, he holds 179,733.83 shares through a benefit plan and 9,695.1811 shares through a 401(k) plan, according to the Form 4 disclosure details.

What is the nature of the benefit plan holdings in the AT&T (T) Form 4?

The benefit plan holdings represent deferred stock units purchased via automatic payroll deductions with partial company matching. These units are settled only in AT&T stock on a 1-for-1 basis, making them a form of equity-based compensation for the executive.

How were the AT&T (T) 401(k) holdings determined in this Form 4?

The 401(k) holdings of 9,695.1811 AT&T shares are based on a 401(k) plan statement dated April 30, 2026. The Form 4 records this as an indirect ownership position "By 401(k)" rather than a new market transaction.