Lumen Technologies, Inc. — Director's Dealing 2011

Jun 23, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CENTURYLINK, INC (CTL)
CIK: 0000018926
Period of Report: 2011-06-21

Reporting Person: MUELLER EDWARD A (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-06-21	Common Stock	M	10000	$31.98	Acquired	660287	Direct
2011-06-21	Common Stock	S	23500	$40.00	Disposed	636787	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-06-21	Stock option (right to buy)	$31.98	M	10000	Disposed	2018-03-05	Common Stock (10000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	4155	Indirect

Footnotes

F1: This sale was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on February 25, 2011.

F2: Based on plan holdings as of May 31, 2011.

F3: The option is fully vested.

F4: Received in the merger between Qwest Communications International Inc. ("Qwest"), the issuer and SB44 Acquisition Company in exchange for a stock option to acquire 1,556,000 shares of Qwest common stock for $5.32 per share.