SCHEDULE 13D

AT&T and its venture investment arm converted a $35 million subordinated convertible note into 6,260,440 shares of AST SpaceMobile Class A Common Stock on February 3, 2025, giving them a 2.7% ownership stake in the satellite communications company. The initial conversion price was $5.75 per share with a 5.50% annual interest rate, and the conversion became optional for AT&T after January 22, 2025. As part of the investment, AT&T Venture Investments secured a board seat and director nomination rights, along with registration rights for the converted shares, positioning AT&T as a strategic investor in AST SpaceMobile's cellular broadband satellite network initiative.