Form 4: Marissa A. Mayer Reports Acquisition of AT&T Inc. Deferred Stock Units

Director Marissa A. Mayer reports acquiring deferred stock units in AT&T Inc. through the Non-Employee Director Stock and Deferral Plan.

Summary

• Marissa A. Mayer, a director of AT&T Inc., reported acquiring 213.0962 deferred stock units on July 31, 2024.
• The acquisition was made pursuant to the AT&T Inc. Non-Employee Director Stock and Deferral Plan.
• The price per unit is $19.25.
• Following the transaction, Mayer beneficially owns 14,995.4421 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. There are no indications of negative events or concerns.

Positives

• The acquisition of deferred stock units indicates continued alignment of the director's interests with the company's performance.

Future Outlook

After ceasing to be a director, each deferred stock unit will be paid out in cash equal to the value of one share of AT&T common stock at times elected by the director.

Industry Context

This filing is a routine disclosure related to insider transactions, which are common for directors of publicly traded companies. It reflects compensation practices and alignment of interests between management and shareholders.

Comparison to Industry Standards

• Deferred stock units are a common form of compensation for non-employee directors in large publicly traded companies like AT&T.
• Companies like Verizon and Comcast also use similar compensation structures for their board members.
• The specific number of units and their value are company-specific and depend on the overall compensation strategy.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns the director's interests with the company's long-term performance.

Key Dates