Form 4: AT&T Director William E. Kennard Reports Acquisition of Deferred Stock Units

Director William E. Kennard reports acquiring deferred stock units in AT&T Inc. through the Non-Employee Director Stock and Deferral Plan.

Summary

• On January 31, 2025, William E. Kennard, a director of AT&T Inc., acquired 1,395.7021 deferred stock units.
• These units were acquired pursuant to the AT&T Inc. Non-Employee Director Stock and Deferral Plan.
• Each unit will be paid out in cash equal to the value of one share of AT&T common stock after Kennard ceases to be a director, at times elected by him.
• The price of the acquisition was $23.73 per unit.
• Following the transaction, Kennard indirectly owns 120,747.0954 derivative securities through a benefit plan.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The acquisition of stock units by a director is generally seen as a positive sign, indicating confidence in the company's future. However, this is a routine transaction related to director compensation.

Positives

• The acquisition of deferred stock units by a director signals confidence in the company's future performance.

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 reporting person ceases to be a director, at times elected by the director.

Industry Context

Director stock ownership is a common practice in publicly traded companies, aligning the interests of directors with those of shareholders. Deferred stock units are often used as a form of compensation for non-employee directors.

Comparison to Industry Standards

• Director compensation packages vary widely across industries and companies.
• Deferred stock units are a fairly standard component of director compensation, particularly in large, established companies like AT&T.
• The specific number of units granted and the terms of the deferral plan would need to be compared to peer companies to assess whether the compensation is in line with industry norms.

Stakeholder Impact

• The acquisition of deferred stock units by a director can have a slightly positive impact on shareholder sentiment.

Key Dates

Keywords

AT&T, Director, Deferred Stock Units, Form 4, Beneficial Ownership, Kennard, Non-Employee Director Stock and Deferral Plan