Form 4: AT&T Executive McAtee Reports Changes in Beneficial Ownership

David R. McAtee II, Sr. Exec. VP and Gen. Counsel at AT&T, reports changes in beneficial ownership of company stock due to a benefit plan distribution and tax withholding.

Summary

• On March 11, 2024, David R. McAtee II, a Senior Executive VP and General Counsel at AT&T, filed a Form 4 with the SEC.
• The filing reports changes in his beneficial ownership of AT&T common stock.
• A distribution from a benefit plan resulted in the transfer of 90,749 shares to direct ownership.
• Mandatory tax withholding related to the benefit plan distribution led to the disposal of 53,299.8658 shares at a price of $17.18.
• Following the reported transactions, McAtee directly owns 280,257 shares of AT&T common stock.
• McAtee also indirectly owns 478,668 shares through a limited partnership (LP) and 7,756.1823 shares through a 401(k) plan.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing changes in stock ownership due to standard compensation practices. It doesn't contain information that would significantly impact investor sentiment positively or negatively.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates changes in the executive's holdings due to compensation and tax obligations, which is a common occurrence.

Comparison to Industry Standards

• Executive stock ownership and trading activity are closely monitored in the telecommunications industry.
• Companies like Verizon and T-Mobile also have executives who regularly file Form 4s to report changes in their holdings.
• The size and nature of these transactions are generally consistent with standard executive compensation practices.

Key Dates