Desroches Pascal, Senior Executive VP and CFO, has filed 69 Form 4 transactions, all in AT&T (T), with one grant in Honeywell (HONA). The pattern is one-sided: zero open-market purchases and zero open-market sales. The total sell value across all filings is $11,612,706.16, but that figure is composed entirely of automatic and mechanical events, not discretionary trades.
The largest dollar movements came from compensation and tax mechanics. On January 29, 2026, Pascal had two transactions coded D (sale back to the issuer) valued at $3,505,809.14 each, paired with two F transactions (shares withheld for tax) at $3,452,285.78 each. A similar pairing occurred on March 10, 2026, with two F transactions at $1,514,276.73. These are standard post-vesting settlements. The acquired value of $5,048,645.73 stems from grants (code A), including a $3,516,416.70 award on March 31, 2026, and monthly restricted stock grants ranging from roughly $40,000 to $81,000 through September 2026.
The recent filings show no conviction either way. The last 25 transactions are all A, F, G, M, or D codes. There is a gift of zero value on February 25, 2026, and an option exercise (M) on February 13, 2026, with no cash value. The HONA grant on August 3, 2026, was also zero value. Pascal has not bought or sold a share on the open market in the period covered. The activity is compensation cycling: grants vest, shares are sold back to cover tax, and the remainder is held.
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