Lumen Technologies, Inc. — Director's Dealing 2011

Jul 20, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CENTURYLINK, INC (CTL)
CIK: 0000018926
Period of Report: 2011-07-15

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-07-15	Common Stock	A	63194	—	Acquired	63194	Direct
2011-07-15	Common Stock	A	189226	—	Acquired	252420	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-07-15	Employee stock option (right to buy)	$9.20	A	4105	Acquired	2012-04-30	Common Stock (4105)	Direct
2011-07-15	Employee stock option (right to buy)	$30.41	A	5131	Acquired	2014-05-04	Common Stock (5131)	Direct
2011-07-15	Employee stock option (right to buy)	$28.39	A	5131	Acquired	2016-05-30	Common Stock (5131)	Direct
2011-07-15	Employee stock option (right to buy)	$10.22	A	15314	Acquired	2019-05-19	Common Stock (15314)	Direct
2011-07-15	Employee stock option (right to buy)	$16.18	A	513156	Acquired	2020-03-09	Common Stock (513156)	Direct

Footnotes

F1: Received in exchange for 254,921 shares of common stock of SAVVIS, Inc., a Delaware corporation ("Savvis"), pursuant to the agreement and plan of merger (the "Merger Agreement") among 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") on July 15, 2011. Under the Merger Agreement, Savvis stockholders received $30.00 in cash and 0.2479 shares of CenturyLink common stock per share of Savvis common stock.

F2: Represents restricted stock units received pursuant to the Merger Agreement in exchange for 184,375 Savvis restricted stock units. Pursuant to the terms of the Merger Agreement, each of these Savvis restricted stock units converted into 1.026312 CenturyLink restricted stock units.

F3: The option is fully vested.

F4: Received in the Merger in exchange for a stock option to acquire 4,000 shares of Savvis common stock for $9.435 per share.

F5: Received in the Merger in exchange for a stock option to acquire 5,000 shares of Savvis common stock for $31.20 per share.

F6: Received in the Merger in exchange for a stock option to acquire 5,000 shares of Savvis common stock for $29.13 per share.

F7: Received in the Merger in exchange for a stock option to acquire 14,922 shares of Savvis common stock for $10.48 per share.

F8: Received in the Merger in exchange for a stock option to acquire 500,000 shares of Savvis common stock for $16.60 per share.