Desroches Pascal 4

What Happened

• Pascal Desroches, Senior EVP and CFO of AT&T (T), received a distribution of 348,750 performance shares and was also granted 84,560 restricted stock units (RSUs) on January 29, 2026. As part of the transaction, 137,377.071 shares were surrendered/withheld to cover taxes (priced at $25.13, generating $3,452,286), and 139,506.93 shares were surrendered to the issuer at $25.13 for $3,505,809. Additionally, 71,866 shares held indirectly in a benefit plan were transferred to direct ownership as part of the distribution. The RSUs are derivative awards that will convert into common shares (1:1).

Key Details

• Transaction date: 2026-01-29; Form 4 filed 2026-02-02 (timely filing).
• Awards/distributions: 348,750 performance shares distributed (F1); 84,560 RSUs granted at $0 (derivative).
• Share disposals for tax/consideration: 137,377.071 shares (tax withholding) at $25.13 = $3,452,286; 139,506.93 shares (surrendered to issuer) at $25.13 = $3,505,809.
• Transfer: 71,866 shares moved from indirect to direct ownership due to the distribution (F5).
• Shares owned after the transactions: not specified in the provided data.
• Footnotes: F3 indicates mandatory tax withholding; F4 notes portion distributed in cash after taxes; F7 describes RSU vesting schedule (one-third vests/distributes on 2/15/2027, 2/15/2028, 2/15/2029; vesting accelerates on retirement eligibility).

Context

• These actions are award-related and routine: performance shares and RSUs were distributed and customary share withholding/surrenders were used to satisfy tax obligations and cash distribution mechanics. This is not an open-market purchase or discretionary sale by the insider, so it should be interpreted as compensation-related rather than a direct buy/sell signal.