Lumen Technologies, Inc. - Director's Dealing 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CENTURYLINK, INC (CTL)
CIK: 0000018926
Period of Report: 2012-02-27

Reporting Person: Cheek William E (President - Wholesale Op.)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-02-27	Common Stock	M	4758	—	Acquired	83154	Direct
2012-02-27	Common Stock	F	1487	$40.00	Disposed	81667	Direct
2012-02-28	Common Stock	M	16737	$32.90	Acquired	98404	Direct
2012-02-28	Common Stock	S	16737	$40.00	Disposed	81667	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-02-27	Restricted Stock Units	$	M	4758	Disposed		Common Stock (4758)	Direct
2012-02-28	NQ Stock Option	$32.90	M	16737	Disposed	2016-02-07	Common Stock (16737)	Direct

Security	Shares	Ownership
Common Stock	763.8736	Indirect

F1: Upon vesting of restricted stock units, an equivalent number of shares of the issuer's common stock were delivered to the reporting person.

F2: Represents shares withheld by the issuer to satisfy minimum statutory withholding requirements upon vesting of restricted stock units.

F3: This sale was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person.

F4: Each restricted stock unit represents a contingent right to receive one share of the issuer's common stock.

F5: The restricted stock units vest as follows: 34% on February 27, 2010, 33% on February 27, 2011 and 33% on February 27, 2012.

F6: The option is fully vested.