Item 1A. Risk Factors

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Item 1A. Risk Factors

We discuss in our Annual Report on Form 10-K various risks that may materially affect our business. We use this section to update this discussion to reflect material developments since our Form 10-K was filed.

Recent Wall Street Journal reports regarding lead-clad cables.

In July 2023, The Wall Street Journal published a series of articles alleging that lead-clad telecommunications cables are a public-health hazard. We anticipate that, in light of these assertions, we may be subject to litigation, government investigations and potentially new regulation or legislation relating to lead-clad cables. We may incur significant expenses defending such suits or government actions or complying with any new regulation or legislation, and may be required to spend amounts that are material to AT&T.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

(c) A summary of our repurchases of common stock during the second quarter of 2023 is as follows:

(a)(b)(c)(d)
PeriodTotal Number of Shares (or Units) Purchased****1, 2Average Price Paid Per Share (or Unit)Total Number of Shares (or Units) Purchased as Part of Publicly Announced Plans or Programs****1Maximum Number (or Approximate Dollar Value) of Shares (or Units) That May Yet Be Purchased Under The Plans or Programs
April 1, 2023 - April 30, 202337,968$19.69—143,731,972
May 1, 2023 - May 31, 202317,51917.19—143,731,972
June 1, 2023 - June 30, 202327,10315.68—143,731,972
Total82,590$17.84—

1In March 2014, our Board of Directors approved an authorization to repurchase up to 300 million shares of our common stock. The authorization has no expiration date.

2These shares were acquired through the withholding of taxes on the vesting of restricted stock and performance shares or in respect of the exercise price of options.

AT&T INC.

JUNE 30, 2023

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