Jeffery S. McElfresh - 13 Jan 2023 Form 4 Insider Report for AT&T INC. (T)

Role: Chief Operating Officer
Signature: /s/ Johnell C. Holland, Attorney-in-fact
Issuer symbol: T
Transactions as of: 13 Jan 2023
Net transactions value: -$586,461
Form type: 4
Filing time: 18 Jan 2023, 18:31:25 UTC
Previous filing: 04 Jan 2023
Next filing: 30 Jan 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	T	Common Stock	Options Exercise		+32,304	+25%		159,447	13 Jan 2023	Direct	F1, F2
transaction	T	Common Stock	Tax liability	$138,961	-7,108	-4.5%	$19.55	152,339	13 Jan 2023	Direct	F1, F3
transaction	T	Common Stock	Options Exercise		+28,895	+19%		181,234	13 Jan 2023	Direct	F1, F4
transaction	T	Common Stock	Tax liability	$153,898	-7,872	-4.3%	$19.55	173,362	13 Jan 2023	Direct	F1, F3
transaction	T	Common Stock	Options Exercise		+40,587	+23%		213,949	13 Jan 2023	Direct	F1, F5
transaction	T	Common Stock	Tax liability	$293,602	-15,018	-7%	$19.55	198,931	13 Jan 2023	Direct	F1, F3
holding	T	Common Stock						5,204	13 Jan 2023	By 401(k)	F6
holding	T	Common Stock						130,396	13 Jan 2023	By Benefit Plan

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	T	Restricted Stock Units (2019)	Options Exercise		-32,304	-100%		0	13 Jan 2023	Common Stock	32,304		Direct	F1, F2
transaction	T	Restricted Stock Units (2021)	Options Exercise		-28,895	-50%		28,893	13 Jan 2023	Common Stock	28,895		Direct	F1, F4
transaction	T	Restricted Stock Units (2022)	Options Exercise		-40,587	-33%		81,178	13 Jan 2023	Common Stock	40,587		Direct	F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Reflects an anti-dilution adjustment made in connection with the WarnerMedia/Discovery transaction pursuant to the terms of the 2018 Incentive plan.
F2	Restricted stock units acquired pursuant to the 2018 Incentive Plan. Each unit will convert into one share of issuer's common stock. Units vest and distribute on 1/15/2023. Vesting (but not distribution) is accelerated on retirement eligibility.
F3	Mandatory tax withholding on distribution of Restricted Stock Units.
F4	Restricted stock units acquired pursuant to the 2018 Incentive Plan. Each unit will convert into one share of issuer's common stock. One-third of the units vests and distributes on each of 1/15/2022, 1/15/2023 and 1/15/2024. Vesting (but not distribution) is accelerated on retirement eligibility.
F5	Restricted stock units acquired pursuant to the 2018 Incentive Plan. Each unit will convert into one share of issuer's common stock. One-third of the units vests and distributes on each of 1/15/2023, 1/15/2024, and 1/15/2025. Vesting (but not distribution) is accelerated on retirement eligibility.
F6	Based on a 401(k) plan statement dated 11/30/2022.