Form 4: AT&T Director Scott T. Ford Reports Acquisition of Deferred Stock Units

Director Scott T. Ford reported the acquisition of deferred stock units in AT&T Inc. on July 31, 2024.

Summary

• On July 31, 2024, Scott T. Ford, a director of AT&T Inc., acquired 3,210.4912 deferred stock units.
• These units were acquired pursuant to the AT&T Inc. Non-Employee Director Stock and Deferral Plan.
• Following the transaction, Ford beneficially owns 81,319 shares of common stock directly and 225,920.2434 derivative securities indirectly through a benefit plan.
• Each deferred stock unit will be paid out in cash equal to the value of one share of AT&T common stock after Ford ceases to be a director, at times elected by the director.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction and adherence to regulatory requirements, indicating stability and transparency. The acquisition of deferred stock units by a director is generally viewed positively as it aligns their interests with the company's long-term performance.

Positives

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

Industry Context

This filing is a routine disclosure of a director's stock transactions, which is common in publicly traded companies. It provides transparency to investors regarding the holdings and transactions of company insiders.

Comparison to Industry Standards

• Director compensation packages often include deferred stock units to align their interests with shareholders, 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 to attract and retain qualified board members.

Stakeholder Impact

• The transaction provides transparency to shareholders regarding the director's holdings and aligns the director's interests with the company's performance.

Key Dates