Lumen Technologies, Inc. — Director's Dealing 2014

Feb 24, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CENTURYLINK, INC (CTL)
CIK: 0000018926
Period of Report: 2014-02-20

Reporting Person: PUCKETT KAREN A (Ex. VP & COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-02-20	Common Stock	F	2735	$31.12	Disposed	286144.32	Direct
2014-02-20	Common Stock	A	78874	—	Acquired	365018.32	Direct
2014-02-20	Common Stock	D	23000	—	Disposed	342018.32	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	202	Indirect
Common Stock	1313.953	Indirect
Common Stock	2385.387	Indirect
Common Stock	25.318	Indirect

Footnotes

F1: Includes ESPP purchases through February 20, 2014.

F2: 40% of the grant vests in three equal annual installments beginning on February 20, 2015; 30% vests on February 20, 2017 based upon satisfaction of performance conditions related to the issuer's revenue for 2014, 2015 and 2016; and 30% vests on February 20, 2017 based upon satisfaction of conditions related to the issuer's total relative shareholder return for 2014, 2015 and 2016; in each case provided that the reporting person remains employed by the issuer over the vesting period (except in the case of death, disability or certain terminations of employment following a change of control).

F3: In a Form 4 filed on June 2, 2011, the reporting person reported the grant of 45,999 shares of restricted stock, 23,000 of which would vest based upon achievement of performance conditions related to the issuer's total shareholder return over specified time periods. On February 20, 2014, the issuer determined that the performance conditions had not been satisfied and, as a result, the performance-vesting shares were forfeited.