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Lumen Technologies, Inc. Director's Dealing 2011

Apr 5, 2011

30915_dirs_2011-04-04_e2051afc-2111-4ce9-be22-d3058eec204c.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: Ancell Christopher K (President-Business Markets Grp)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2011-04-01 Common Stock A 188925 Acquired 188925 Direct

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2011-04-01 Employee stock option (right to buy) $36.96 A 5616 Acquired 2016-02-16 Common Stock (5616) Direct
2011-04-01 Employee stock option (right to buy) $51.21 A 7654 Acquired 2017-03-05 Common Stock (7654) Direct
2011-04-01 Employee stock option (right to buy) $31.98 A 10982 Acquired 2018-03-05 Common Stock (10982) Direct

Footnotes

F1: Received in exchange for 1,135,374 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: The option is fully vested.

F3: Received in the merger in exchange for a stock option to acquire 33,750 shares of Qwest common stock for $6.15 per share.

F4: Received in the merger in exchange for a stock option to acquire 46,000 shares of Qwest common stock for $8.52 per share.

F5: Received in the merger in exchange for a stock option to acquire 66,000 shares of Qwest common stock for $5.32 per share.