Scott Trezise - 01 Mar 2023 Form 4 Insider Report for Lumen Technologies, Inc. (LUMN)

Role
EVP, Human Resources
Signature
/s/ Gary Maxwell Cox, as Attorney-in-Fact for Scott Trezise
Issuer symbol
LUMN
Transactions as of
01 Mar 2023
Net transactions value
-$62,775
Form type
4
Filing time
03 Mar 2023, 20:38:56 UTC
Previous filing
03 Mar 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LUMN Common Stock Award $0 +768,344 +170% $0.000000 1,220,938 01 Mar 2023 Direct F1
transaction LUMN Common Stock Tax liability $62,775 -19,435 -1.6% $3.23 1,201,503 01 Mar 2023 Direct F2
transaction LUMN Common Stock Disposed to Issuer $0 -42,711 -3.6% $0.000000 1,158,792 01 Mar 2023 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents a grant of restricted stock (40% time-based and 60% performance-based). The time-based portion will vest in three equal annual installments beginning on March 1, 2024. Vesting of the performance-based portion is dependent upon the extent to which two three-year performance metrics are achieved, with any earned shares vesting on March 1, 2026.
F2 Shares withheld to cover the taxes due upon the vesting of equity awards.
F3 Represents performance-based restricted shares or RSUs granted on February 26, 2020, which were forfeited on March 1, 2023 for failing to achieve the three-year performance metrics.