AT&T reported a June 30, 2026 ownership change for Cindy B. Taylor, a non-employee director of the company. The filing shows a transaction involving AT&T common stock or common-stock-linked units, including 5,718 shares or units, with the price/value field shown as 320 per share in the filing text. The explanatory note indicates that the securities were deferred stock units acquired under the AT&T Inc. Non-Employee Director Stock and Deferral Plan. These units function as deferred compensation tied to AT&T’s common stock rather than ordinary immediately delivered shares. After Taylor ceases to serve as a director, each deferred stock unit is paid out in cash equal to the value of one share of AT&T common stock, at payment times previously elected by the director. The filing also includes a note explaining AT&T depositary shares: each depositary share represents a 1/1,000th interest in a share of AT&T’s 4.750% Perpetual Preferred Stock, Series C. The provided text does not show a specific transaction code or Taylor’s total beneficial ownership after the reported transaction. The Form 4 was signed on July 2, 2026, by Johnell C. Holland as attorney-in-fact for Taylor.