Lumen Technologies (LUMN) director Stephen McMillan receives 25,197-share stock grant

Rhea-AI Filing Summary

MCMILLAN STEPHEN reported acquisition or exercise transactions in this Form 4 filing.

Lumen Technologies director Stephen McMillan received an equity grant of company stock. He was awarded 25,197 shares of Lumen Technologies common stock at a reference price of $9.44 per share. Following this grant, he holds 76,591 shares directly. The restricted stock will vest on May 21, 2027, aligning his compensation with longer-term company performance.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider MCMILLAN STEPHEN

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	25,197	$9.44	$238K

Holdings After Transaction: Common Stock — 76,591 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Shares granted: 25,197 shares Reference price per share: $9.44 per share Total shares after grant: 76,591 shares +1 more

4 metrics

Shares granted 25,197 shares Restricted stock grant of common stock

Reference price per share $9.44 per share Price associated with the stock grant

Total shares after grant 76,591 shares Direct holdings following the transaction

Vesting date May 21, 2027 Restricted stock vesting date from footnote

Key Terms

restricted stock, Grant, award, or other acquisition, Common Stock, transaction code "A"

4 terms

restricted stock financial

"This grant of restricted stock will vest on May 21, 2027."

Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.

Grant, award, or other acquisition financial

"transaction_code_description: Grant, award, or other acquisition"

Common Stock financial

"security_title: Common Stock"

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

transaction code "A" financial

"transaction_code: "A""

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

MCMILLAN STEPHEN

(Last) (First) (Middle)

100 CENTURYLINK DR

(Street)

MONROE LOUISIANA 71203

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Lumen Technologies, Inc. [ LUMN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/21/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	05/21/2026		A(1)		25,197	A	$9.44	76,591	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. This grant of restricted stock will vest on May 21, 2027.

Remarks:

	/s/ Cory Smith, as Attorney-in-Fact for Stephen McMillan	05/26/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What did Lumen Technologies (LUMN) director Stephen McMillan report on this Form 4?

Stephen McMillan reported receiving a grant of 25,197 shares of Lumen Technologies common stock. This award is classified as a grant or other acquisition, increasing his direct holdings to 76,591 shares, and reflects stock-based compensation rather than an open-market purchase.

Is the Stephen McMillan Form 4 for Lumen Technologies (LUMN) a stock purchase or a grant?

The Form 4 reflects a stock grant, not an open-market purchase. The 25,197 shares were acquired as a grant or award of common stock, shown with transaction code “A,” which is used for compensation-related acquisitions rather than discretionary buying in the market.

When do Stephen McMillan’s restricted Lumen Technologies (LUMN) shares vest?

The restricted stock granted to Stephen McMillan will vest on May 21, 2027. Until that vesting date, the award remains subject to the applicable vesting conditions, which typically require continued service and are designed to align director incentives with long-term shareholder interests.

How many Lumen Technologies (LUMN) shares does Stephen McMillan hold after this transaction?

After the reported grant, Stephen McMillan directly holds 76,591 shares of Lumen Technologies common stock. This total includes the newly granted 25,197 shares and represents his direct ownership position as of the transaction date disclosed in the Form 4 filing.

What transaction code appears on Stephen McMillan’s Lumen Technologies (LUMN) Form 4?

The Form 4 uses transaction code “A,” indicating a grant, award, or other acquisition of common stock. This code confirms the 25,197 shares were issued as stock-based compensation, not through a market trade such as a traditional buy or sell order.