Desroches Pascal 4

What Happened

• Pascal Desroches, Senior Executive Vice President and Chief Financial Officer of AT&T, reported gift transactions on 2026-02-25 involving 352,000 AT&T shares. The Form 4 lists two matching entries: a gift disposition of 352,000 shares at $0.00 and a gift acquisition of 352,000 shares at $0.00. Each entry is reported at no cash price (value $0), indicating a transfer classified as a gift rather than a purchase or sale.

Key Details

• Transaction date: 2026-02-25; Filing date: 2026-02-27 (appears timely).
• Reported price: $0.00 per share; reported total value: $0.
• Shares after transaction: Not specified in the filing.
• Footnotes:
  • F1: The reporting person and his wife are the sole limited partners, and the sole members and managers of the general partner, of the referenced limited partnership.
  • F2: Based on a 401(k) plan statement dated 01/31/2026.
• No indication of option exercise, open-market purchase, or sale code; transaction code is G (gift).

Context

• Gifts are transfers for which no cash consideration is recorded and do not necessarily reflect the insider’s market view of the company. The pair of offsetting gift entries (disposition and acquisition of the same number of shares at $0) suggests an internal transfer between accounts or entities. The footnotes reference a family limited partnership and a 401(k) statement, which may relate to the accounts involved, but the filing does not state the purpose of the transfers.