Form 4: AT&T Director Michael B. McCallister Reports Changes in Beneficial Ownership

Director Michael B. McCallister reports changes in beneficial ownership of AT&T Inc. stock, including acquisitions of deferred stock units.

Summary

• Michael B. McCallister, a director of AT&T Inc., filed a Form 4 with the SEC detailing changes in his beneficial ownership of AT&T stock.
• The report indicates that McCallister acquired 12,074.6432 deferred stock units on May 31, 2024, at a price of $18.22 per unit.
• These units were acquired pursuant to the AT&T Inc. Non-Employee Director Stock and Deferral Plan.
• McCallister directly owns 15,049 shares of common stock.
• He also indirectly owns 30,566 shares by GRAT, 12,798 shares by spouse, and 7,000 shares by trust.
• Following the reported transactions, McCallister beneficially owns 135,039.4795 derivative securities indirectly through a benefit plan.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard compensation practices and alignment of director interests with the company's performance.

Positives

• The acquisition of deferred stock units aligns the director's interests with the long-term performance of AT&T.
• The director's participation in the Non-Employee Director Stock and Deferral Plan demonstrates a commitment to the company's future.

Future Outlook

The deferred stock units will be paid out in cash equal to the value of one share of AT&T common stock at times elected by the director after he ceases to be a director.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to track ownership changes and potential alignment of interests.

Stakeholder Impact

• The disclosure provides transparency to shareholders regarding the director's stake in the company.
• The director's participation in the stock deferral plan can be viewed positively by stakeholders as it aligns interests with long-term value creation.

Key Dates