McElfresh Jeffery S. 4/A

What Happened

• Jeffery S. McElfresh, Chief Operating Officer of AT&T, had transactions on 2026-01-29 that resulted in the disposition of a total of 418,500 shares. Two reported dispositions were 164,680.635 shares and 167,521.365 shares sold/withheld at $25.13 each (values $4,138,424 and $4,209,812, respectively), plus a transfer/disposition of 86,298 shares (no price reported). These actions reflect tax-withholding and issuer distributions related to performance-share distributions rather than an open-market sale.

Key Details

• Transaction date: 2026-01-29. Filing (amended): 2026-02-19.
• Reported proceeds/values: 164,680.635 shares @ $25.13 = $4,138,424; 167,521.365 shares @ $25.13 = $4,209,812. Third line: 86,298 shares (N/A value).
• Nature of transactions/codes: F = payment of exercise price or tax liability (shares withheld); D = disposition to issuer (issuer distribution/withholding).
• Footnotes: amendment revises shares withheld/distributed after recalculation of federal taxes on performance-share distributions; some performance shares were distributed in cash after taxes and some in shares; 86,298 shares were moved from indirect to direct ownership due to the distribution.
• Shares owned after transaction: not specified in the provided report.
• Filing status: This is an amended Form 4 filed Feb 19 for Jan 29 transactions—an amendment often revises withholding/distribution details. (The filing date is later than the transaction date; Form 4s are typically due within 2 business days, so this amendment was filed after that window.)

Context

• These appear to be routine tax-withholding and issuer-distribution transactions tied to performance-share payouts (each performance share equals one common share), not open-market sell orders. Such transactions are common when companies withhold shares to cover taxes or distribute performance awards in cash and stock and do not necessarily signal a change in insider conviction.