Lumen Technologies, Inc. — Director's Dealing 2010

Sep 20, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CENTURYTEL INC (CTL)
CIK: 0000018926
Period of Report: 2010-09-16

Reporting Person: COLE DAVID D (Sr.VP-Operations Support)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-09-16	Common Stock	S	8994.0000	$38.0000	Disposed	131883.6561	Direct
2010-09-17	Common Stock	M	27001.0000	$28.3400	Acquired	158884.6561	Direct
2010-09-17	Common Stock	M	20500.0000	—	Acquired	179384.6561	Direct
2010-09-17	Common Stock	S	20500.0000	$39.0004	Disposed	158884.6561	Direct
2010-09-17	Common Stock	S	27001.0000	$38.6156	Disposed	131883.6561	Direct
2010-09-20	Common Stock	M	60500.0000	—	Acquired	192383.6561	Direct
2010-09-20	Common Stock	S	60500.0000	$39.0000	Disposed	131883.6561	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-09-17	Employee Stock Option (right to buy)	$32.9900	M	20500.0000	Disposed	2012-02-25	Common Stock (20500.0000)	Direct
2010-09-17	Employee Stock Option (right to buy)	$28.3400	M	27001.0000	Disposed	2014-02-25	Common Stock (27001.0000)	Direct
2010-09-20	Employee Stock Option (right to buy)	$32.9900	M	60500.0000	Disposed	2012-02-25	Common Stock (60500.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	5667.5200	Indirect
Common Stock	12051.7486	Indirect
Common Stock	1816.2623	Indirect
Common Stock	2141.9424	Indirect
Common Stock	767.8045	Indirect
Common Stock	11190.9058	Indirect
Common Stock	3234.1739	Indirect

Footnotes

F1: Sold pursuant to 10b5-1 plan.

F2: Exercised pursuant to a 10b5-1 trading plan.