[Form 4] AT&T Inc. 5.625% Global Notes due 2067 Insider Trading Activity

Rhea-AI Filing Summary

Reporting person Sabrina Sanders, an AT&T officer, reported transactions in AT&T common stock on 08/29/2025. She acquired 106.52 deferred stock units via payroll deduction at an average price of $29.29 per share; these units settle 1-for-1 in stock. The filing also shows 9,249 shares disposed of at $28.94 due to mandatory tax withholding on a restricted stock distribution, and indirect beneficial ownership includes 2,310.473 shares held by a benefit plan and 4,971.7322 shares in a 401(k) (401(k) statement dated 07/31/2025). The form is signed by an attorney-in-fact on 09/03/2025.

Positive

• Acquisition of deferred stock units purchased through payroll deductions with company matching supports alignment of executive compensation with shareholder equity.
• Clear disclosures including explanations for deferred units, tax withholding, and 401(k) basis improve transparency of insider holdings.

Negative

• Disposition of 9,249 shares for mandatory tax withholding reduced reported holdings, though this appears tax-driven rather than a voluntary sale.

Insights

Financial Analyst

TL;DR: Officer acquired deferred stock units and had a tax-withholding disposal; net holdings remain modest relative to an issuer-sized company.

The filing documents routine compensatory activity: payroll-funded deferred stock unit purchases with matching contributions and tax-related disposals of restricted stock. The acquisition price of $29.29 and disposal price of $28.94 are close, indicating no material market-timing effect disclosed. Reported indirect holdings consist of benefit-plan and 401(k) balances rather than direct large-scale ownership. For investors, these entries reflect compensation mechanics, not an operational or capital structure change.

Compliance/Risk Analyst

TL;DR: Form 4 shows standard Section 16 reporting for executive compensation-related stock movements; no compliance exceptions visible.

Transactions are coded and explained: deferred stock units (A(1)), mandatory tax withholding (F(2)), and 401(k)-based holdings. The explanations note settlement in stock and use of plan statements to calculate ownership. The filing appears timely and properly executed by an attorney-in-fact, with required explanatory footnotes, suggesting routine compliance with Section 16 reporting obligations.

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^*

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)
08/29/2025

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	08/29/2025		A(1)		106.52	A	$29.29	2,310.473	I	By Benefit Plan
Common Stock	08/29/2025		F(2)		9,249	D	$28.94	153,257	D
Common Stock								4,971.7322(3)	I	By 401(k)

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. Mandatory tax withholding on distribution of Restricted Stock.

3. Based on a 401(k) plan statement dated 7/31/2025.

	/s/ Johnell C. Holland, Attorney-in-fact	09/03/2025
	** 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 transactions did Sabrina Sanders report on the Form 4 for AT&T (T)?

She reported acquiring 106.52 deferred stock units at $29.29 per unit and disposing of 9,249 shares at $28.94 due to mandatory tax withholding.

What does the acquisition of deferred stock units mean in this filing?

The filing states the deferred stock units were purchased via automatic payroll deductions and partial company matching and are settled only in stock on a 1-for-1 basis.

How many shares does the Form 4 show as beneficially owned after the transactions?

The filing reports 153,257 shares beneficially owned following the reported transactions (including indirect holdings noted).

Why were 9,249 shares disposed according to the Form 4?

The disposal of 9,249 shares is explained as mandatory tax withholding on distribution of restricted stock.

What documents supported the 401(k) ownership figure?

The filing notes the 401(k) ownership figure is based on a 401(k) plan statement dated 07/31/2025.