Lumen Technologies, Inc. — Director's Dealing 2011

Aug 27, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CENTURYLINK, INC (CTL)
CIK: 0000018926
Period of Report: 2011-08-25

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-08-25	Common Stock	M	4105	$9.20	Acquired	256525	Direct
2011-08-25	Common Stock	M	15314	$10.22	Acquired	271839	Direct
2011-08-25	Common Stock	M	100000	$16.18	Acquired	371839	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-08-25	Employee stock option (right to buy)	$9.20	M	4105	Disposed	2012-04-30	Common Stock (4105)	Direct
2011-08-25	Employee stock option (right to buy)	$10.22	M	15314	Disposed	2019-05-19	Common Stock (15314)	Direct
2011-08-25	Employee stock option (right to buy)	$16.18	M	100000	Disposed	2020-03-09	Common Stock (100000)	Direct

Footnotes

F1: The option is fully vested.

F2: 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 4,000 shares of Savvis common stock for $9.435 per share.

F3: Received in the Merger in exchange for a stock option to acquire 14,922 shares of Savvis common stock for $10.48 per share.

F4: Received in the Merger in exchange for a stock option to acquire 500,000 shares of Savvis common stock for $16.60 per share.