Stacey W. Goff - Mar 1, 2023 Form 4 Insider Report for Lumen Technologies, Inc. (LUMN)

Role
EVP & GC
Signature
/s/ Gary Maxwell ("Max") Cox, as Attorney-in-Fact for Stacey W. Goff
Stock symbol
LUMN
Transactions as of
Mar 1, 2023
Transactions value $
-$100,424
Form type
4
Date filed
3/3/2023, 08:39 PM
Previous filing
May 23, 2022
Next filing
May 22, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LUMN Common Stock Award $0 +576K +72.19% $0.00 1.37M Mar 1, 2023 Direct F1
transaction LUMN Common Stock Tax liability -$100K -31.1K -2.26% $3.23 1.34M Mar 1, 2023 Direct F2
transaction LUMN Common Stock Disposed to Issuer $0 -85.4K -6.36% $0.00 1.26M Mar 1, 2023 Direct F3
holding LUMN Common Stock 1.08K Mar 1, 2023 by Stock Bonus Plan F4
holding LUMN Common Stock 4K Mar 1, 2023 by 401(k)
holding LUMN Common Stock 5.67K Mar 1, 2023 by ESOP F4
* 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.
F4 This is a legacy defined contribution plan sponsored by the Issuer.