Lee Lori M 4

What Happened

• Lori M. Lee, AT&T Global Marketing Officer & SEVP International, received a distribution of 238,313.12 performance shares on 2026-01-29. As part of that distribution, 94,000.508 shares were sold to cover tax withholding at $25.13/share (proceeds $2,362,233) and 95,246.612 shares were surrendered to the issuer at $25.13/share (value $2,393,547). Separately, 49,066 shares previously held indirectly were transferred to direct ownership. Lee was also granted 55,710 restricted stock units (RSUs) under the 2018 Incentive Plan (derivative award; $0 purchase price) that vest in thirds in 2027–2029.

Key Details

• Transaction date: 2026-01-29.
• Sales/withholding prices: $25.13 per share for the 94,000.508-share sale (proceeds $2,362,233) and 95,246.612-share surrender valued at $2,393,547 (same per-share basis).
• Total performance shares distributed: 238,313.12 (F1–F2).
• Tax withholding: 94,000.508 shares sold to cover taxes; portion of distribution represented/paid in cash per footnotes (F3–F4).
• Transfer of 49,066 shares from indirect to direct ownership due to the distribution (F5).
• New RSU grant: 55,710 units under 2018 Incentive Plan; each converts to one share, vesting one‑third on each of 2/15/2027, 2/15/2028, 2/15/2029 (F7).
• No indication here of a purchase for investment; the share disposals are routine tax-withholding/surrender related to a performance share distribution.

Context

• This filing reflects a performance-share distribution with mandatory tax withholding (routine compensation-related transactions), not an open-market sale for investment. The RSU grant is a time‑based derivative award that vests in future years and will convert to shares if vesting conditions are met.