Form 4: AT&T Director Michael B. McCallister Reports Acquisition of Deferred Stock Units

Director Michael B. McCallister reports acquisition of deferred stock units in AT&T Inc. through a non-employee director stock and deferral plan.

Summary

• Michael B. McCallister, a director of AT&T Inc., filed a Form 4 on February 4, 2025, reporting a transaction that occurred on January 31, 2025.
• The transaction involved the acquisition of 1,621.646 deferred stock units pursuant to the AT&T Inc. Non-Employee Director Stock and Deferral Plan.
• These units are payable in cash, equivalent to the value of one share of AT&T common stock, after the director ceases to serve.
• McCallister also indirectly owns 31,510 shares of AT&T common stock through a family trust, 30,566 shares through a GRAT, and 7,000 shares through another trust.
• Following the reported transaction, McCallister indirectly owns 140,294.2962 derivative securities through a benefit plan.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, so the sentiment is neutral.

Positives

• The acquisition of deferred stock units aligns the director's interests with the long-term performance of AT&T.
• The director's indirect ownership of a significant number of shares demonstrates a substantial investment in the company's success.

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.

Stakeholder Impact

• Shareholders are informed about changes in beneficial ownership by a company director.

Key Dates