Form 4: AT&T COO McElfresh Reports RSU Vesting & Stock Transactions

AT&T's Chief Operating Officer, Jeffery S. McElfresh, reported the vesting of restricted stock units and subsequent tax-related stock dispositions.

Summary

• Jeffery S. McElfresh, Chief Operating Officer of AT&T INC., reported transactions involving the vesting of Restricted Stock Units (RSUs) and subsequent disposition of shares for tax withholding.
• On January 15, 2026, 36,102 Restricted Stock Units (2023 grant) vested and converted into common stock at a price of $0 per share.
• Concurrently, 7,943 shares of common stock were disposed of at $23.61 per share to cover mandatory tax withholding related to the 2023 RSU distribution.
• Also on January 15, 2026, 42,027 Restricted Stock Units (2024 grant) vested and converted into common stock at a price of $0 per share.
• An additional 14,618 shares of common stock were disposed of at $23.61 per share for mandatory tax withholding related to the 2024 RSU distribution.
• Following these transactions, McElfresh directly beneficially owns 613,029 shares of common stock.
• Indirect holdings include 8,851.2377 shares in a 401(k) plan (as of November 30, 2025) and 170,751.037 shares in a Benefit Plan.
• After the reported transactions, 42,028 Restricted Stock Units (2024 grant) remain outstanding and directly beneficially owned.

Sentiment

Score: 6

Explanation: The filing reports a routine executive compensation event involving RSU vesting and subsequent mandatory tax withholding, which is a neutral to slightly positive event for the executive, but not indicative of company performance or strategic shifts.

Positives

• The vesting of 78,129 Restricted Stock Units (36,102 from 2023 grant and 42,027 from 2024 grant) represents a realization of executive compensation for the Chief Operating Officer.

Negatives

• A total of 22,561 shares of common stock (7,943 + 14,618) were disposed of at $23.61 per share to cover mandatory tax withholding, reducing direct beneficial ownership.

Future Outlook

Future vesting events for the remaining 2024 Restricted Stock Units are scheduled for January 15, 2027. Vesting (but not distribution) is accelerated upon retirement eligibility for these units.

Industry Context

This filing is a routine disclosure of executive compensation realization and does not provide broader industry context or trends.

Stakeholder Impact

• Shareholders: This is a routine executive compensation event and is unlikely to have a significant direct impact on shareholders. It reflects the ongoing compensation structure for key management.
• Employees: No direct impact on general employees is indicated by this filing.

Next Steps

• Future vesting and distribution of the remaining 42,028 Restricted Stock Units (2024 grant) on January 15, 2027.

Key Dates

Keywords

AT&T, T, Form 4, Insider Transaction, Restricted Stock Units, RSU, Executive Compensation, Stock Vesting, Tax Withholding, Jeffery S. McElfresh, Common Stock