Form 4: AT&T Chief Technology Officer Reports Stock Transactions
SEC Form 4 Filing
AT&T's Chief Technology Officer, Jeremy Alan Legg, reported the acquisition and disposal of company stock and restricted stock units on November 29, 2024, due to vesting and tax obligations.
Summary
- Jeremy Alan Legg, Chief Technology Officer of AT&T, filed a Form 4 detailing transactions involving AT&T common stock and restricted stock units.
- On November 29, 2024, Legg acquired shares through the vesting of restricted stock units granted under the 2018 Incentive Plan.
- The vesting of these units resulted in the acquisition of 183, 653, 1,105, and 1,928 shares of common stock.
- Simultaneously, a corresponding number of shares were disposed of to cover mandatory tax withholding obligations at a price of $23.16 per share.
- Legg also holds 4,819.2669 shares of AT&T stock indirectly through a 401(k) plan as of October 31, 2024.
- The restricted stock units vest in thirds on various dates, with vesting accelerated upon retirement eligibility.
Sentiment
Score: 5
Explanation: The document is a routine disclosure of stock transactions, which is neither positive nor negative. It reflects standard executive compensation practices.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common practice for publicly traded companies. It provides transparency into the executive's holdings and transactions.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies in the US, and AT&T's filing is consistent with these requirements.
- The vesting schedule of the restricted stock units is typical for executive compensation packages, with vesting occurring over multiple years.
- The tax withholding process is also a standard procedure when restricted stock units vest.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they are part of standard executive compensation practices.
- The transactions do not directly impact employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 10/31/2024 | Date of 401(k) plan statement used to determine indirect share holdings. |
| 11/29/2024 | Date of stock and restricted stock unit transactions. |
| 12/03/2024 | Date the Form 4 was signed. |
| 1/15/2023 | First vesting date for some of the 2022 restricted stock units. |
| 1/15/2024 | Second vesting date for some of the 2022 restricted stock units and first vesting date for some of the 2023 restricted stock units. |
| 1/15/2025 | Third vesting date for some of the 2022 restricted stock units, second vesting date for some of the 2023 restricted stock units and first vesting date for some of the 2024 restricted stock units. |
| 1/15/2026 | Third vesting date for some of the 2023 restricted stock units and second vesting date for some of the 2024 restricted stock units. |
| 1/15/2027 | Third vesting date for some of the 2024 restricted stock units. |
Keywords
Form 4, insider trading, stock transaction, restricted stock units, AT&T, Jeremy Alan Legg, executive compensation, vesting, tax withholding
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