Lumen Technologies, Inc. — Director's Dealing 2011

Nov 22, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CENTURYLINK, INC (CTL)
CIK: 0000018926
Period of Report: 2011-11-21

Reporting Person: OUSLEY JAMES E (Chief Exec Officer-Savvis Ops)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-11-21	Common Stock	A	166184	$16.18	Acquired	652875	Direct
2011-11-21	Common Stock	S	66184	$37.001	Disposed	586691	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-11-21	Employee stock option (right to buy)	$16.18	M	166184	Disposed	2020-03-09	Common Stock (166184)	Direct

Footnotes

F1: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $37.00 to $37.01, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.

F2: The option is fully vested.

F3: Received pursuant to the agreement and plan of merger among SAVVIS, Inc., a Delaware corporation ("Savvis"), CenturyLink, Inc., a Louisiana corporation ("CenturyLink"), and Mimi Acquisition Company, a Delaware corporation and wholly owned subsidiary of CenturyLink ("Merger Sub"), pursuant to which Merger Sub merged with and into Savvis (the "Merger"), in exchange for a stock option to acquire 500,000 shares of Savvis common stock for $16.60 per share.