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Lumen Technologies, Inc. Director's Dealing 2011

Apr 5, 2011

30915_dirs_2011-04-04_2f1d10df-a6f4-47ee-9c64-057e5c994a93.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CENTURYLINK, INC (CTL)
CIK: 0000018926
Period of Report: 2011-04-01

Reporting Person: ROBERTS MICHAEL JAMES (Director)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2011-04-01 Common Stock A 6281 Acquired 6281 Direct

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2011-04-01 Phantom Stock $ A 3708.64 Acquired Common Stock (3708.64) Direct

Footnotes

F1: Received in exchange for 37,750 shares of Qwest Communications International Inc. ("Qwest") common stock pursuant to the merger agreement between Qwest, the issuer and SB44 Acquisition Company. At the time of the merger, the closing price of Qwest common stock was $6.83 per share and the closing price of the issuer's common stock was $41.55 per share.

F2: Each unit represents a cash value equivalent to one share of the issuer's common stock.

F3: Immediately exercisable.

F4: Not applicable.

F5: Received in the merger in exchange for 22,287.53 phantom stock units, each representing a cash value equivalent to one share of Qwest's common stock.