Form 4: AT&T Executive Reports Changes in Beneficial Ownership
SEC Form 4 Filing
F. Thaddeus Arroyo, Chief Strategy & Development Officer 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, F. Thaddeus Arroyo, Chief Strategy & Development Officer of AT&T Inc., reported changes in his beneficial ownership of AT&T common stock.
- These changes are due to a mandatory tax withholding on a distribution from a benefit plan, resulting in the disposal of 5,679.2421 shares at a price of $17.18.
- Additionally, 9,668 shares were transferred from indirect ownership through a benefit plan to direct ownership due to the distribution.
- Arroyo also indirectly owns 1,460.4799 shares through a 401(k) plan, based on a statement dated January 31, 2024.
- Following these transactions, Arroyo directly owns 328,129 shares of AT&T common stock and indirectly owns 2,226.376 shares through a benefit plan and 1,460.4799 shares through a 401(k) plan.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, reflecting neutral sentiment. It simply reports transactions related to stock ownership.
Industry Context
This filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their trading activities and ownership positions in the company. It is a standard practice for executives to manage their stock holdings and related tax obligations.
Comparison to Industry Standards
- Form 4 filings are standard practice across all publicly traded companies, including AT&T's competitors like Verizon (VZ) and T-Mobile (TMUS).
- Executives at these companies are also required to report changes in their beneficial ownership of company stock.
- The specific details of the transactions, such as the number of shares and the reasons for the changes, vary depending on individual circumstances and company policies.
Stakeholder Impact
- The filing provides transparency to shareholders regarding the stock transactions of a key executive.
- It has minimal direct impact on employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 01/31/2024 | Date of 401(k) plan statement. |
| 03/11/2024 | Date of transaction (stock disposal and transfer). |
| 03/13/2024 | Date of signature on the Form 4 filing. |
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