Form 4: AT&T Director Matthew K. Rose Reports Acquisition of Deferred Stock Units

Director Matthew K. Rose reports acquisition of deferred stock units in AT&T Inc. through a non-employee director stock and deferral plan.

Summary

• On July 31, 2024, Matthew K. Rose, a director of AT&T Inc., acquired 4,258.194 deferred stock units.
• These units were acquired pursuant to the AT&T Inc. Non-Employee Director Stock and Deferral Plan.
• The price of the derivative security was $19.25.
• Following the transaction, Rose indirectly owns 299,646.4272 derivative securities through a benefit plan.
• Rose also directly owns 98,100 shares of AT&T common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard director compensation practices and aligns director interests with company performance.

Positives

• The acquisition of deferred stock units aligns the director's interests with the long-term performance of the company.

Future Outlook

The deferred stock units will be paid out in cash after the reporting person ceases to be a director, at times elected by the director.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Comparison to Industry Standards

• Director compensation packages often include deferred stock units to align executive incentives with shareholder value, a common practice among large publicly traded companies like Verizon and Comcast.
• The AT&T Non-Employee Director Stock and Deferral Plan is similar to those offered by other major corporations, allowing directors to defer compensation and receive it in the form of stock units.

Stakeholder Impact

• The acquisition of deferred stock units by a director can positively influence shareholder confidence by aligning management's interests with those of the shareholders.

Key Dates