Lumen Technologies, Inc. — Director's Dealing 2014

May 13, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CENTURYLINK, INC (CTL)
CIK: 0000018926
Period of Report: 2014-05-12

Reporting Person: EWING R STEWART JR (Ex. VP & CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-05-12	Common Stock	M	20600	$33.40	Acquired	255734.4825	Direct
2014-05-12	Common Stock	S	20000	$36.7473	Disposed	235734.4825	Direct
2014-05-12	Common Stock	S	600	$36.7901	Disposed	235134.4825	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-05-12	Employee stock option (right to buy)	$33.40	M	20600	Disposed	2015-02-17	Common Stock (20600)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1688.528	Indirect
Common Stock	9097.843	Indirect
Common Stock	1882.541	Indirect
Common Stock	8762.856	Indirect

Footnotes

F1: One-third of the options are exercisable 2/17/05, one-third are exercisable 2/17/06, and one-third are exercisable 2/17/07.