Andrea Genschaw - Mar 1, 2023 Form 4 Insider Report for Lumen Technologies, Inc. (LUMN)

Role
SVP and Controller
Signature
/s/ Gary Maxwell Cox, as Attorney-in-Fact for Andrea Genschaw
Stock symbol
LUMN
Transactions as of
Mar 1, 2023
Transactions value $
-$18,653
Form type
4
Date filed
3/3/2023, 08:39 PM
Previous filing
Aug 17, 2022
Next filing
Mar 5, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LUMN Common Stock Award $0 +154K +86.76% $0.00 331K Mar 1, 2023 Direct F1
transaction LUMN Common Stock Tax liability -$18.7K -5.78K -1.75% $3.23 325K Mar 1, 2023 Direct F2
transaction LUMN Common Stock Disposed to Issuer $0 -6.76K -2.08% $0.00 318K Mar 1, 2023 Direct F3
holding LUMN Common Stock 3.56K Mar 1, 2023 By IRA
* 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.