[Form 4] Lumen Technologies, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Donald Leroy Holt, Chief Accounting Officer & Controller of Lumen Technologies, Inc. (LUMN), reported an equity award on Form 4 filed for a transaction dated 09/23/2025. The filing shows a grant of 26,482 shares of restricted common stock acquired at a $0 price, increasing his beneficial ownership to 71,490 shares following the transaction. The restricted shares vest in three equal annual installments beginning on 09/23/2026. The Form 4 was filed by one reporting person and signed by Meredith Hayes as attorney-in-fact on 09/25/2025. All details reflect a standard grants-based insider reporting event.

Positive

• Transparent disclosure of a restricted stock grant with explicit vesting terms
• Post-transaction beneficial ownership clearly reported as 71,490 shares
• Form filed by one reporting person and signed, indicating procedural completeness

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Insider received restricted stock grant of 26,482 shares that vests over three years, increasing reported ownership to 71,490 shares.

The filing documents a compensation-related equity grant to the Chief Accounting Officer & Controller rather than an open-market purchase or sale. The award is restricted stock with a $0 acquisition price and a clear vesting schedule of three equal annual installments beginning one year after the grant date, which aligns with typical retention-based compensation practices. Because this is a grant disclosure, it primarily affects vested-control timing rather than immediate liquidity or market supply.

Securities Compliance Analyst

TL;DR: Form 4 correctly reports acquisition and post-transaction beneficial ownership; transaction appears procedural and disclosure-compliant.

The report includes required elements: reporter identity, relationship to issuer, transaction date (09/23/2025), transaction code A(1), number of shares acquired (26,482), post-transaction beneficial ownership (71,490), and explanatory remark describing vesting terms. It is signed by an attorney-in-fact and filed by one reporting person, satisfying Form 4 formalities. No derivative transactions or dispositions are reported. The record is a routine insider grant disclosure from a compliance perspective.

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

1. Name and Address of Reporting Person^*

Holt Donald Leroy

(Last) (First) (Middle)

100 CENTURYLINK DR

(Street)

MONROE LA 71203

(City) (State) (Zip)

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

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Acctg. Off. & Controller

3. Date of Earliest Transaction (Month/Day/Year)
09/23/2025

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

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

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

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	09/23/2025		A(1)		26,482	A	$0	71,490	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. Represents a grant of restricted stock vesting in three equal annual installments beginning on September 23, 2026.

Remarks:

	/s/ Meredith Hayes, as Attorney-in-fact for Donald Leroy Holt	09/25/2025
	** 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.

FAQ

What did Donald Leroy Holt report on the Form 4 for LUMN?

He reported a grant of 26,482 restricted shares acquired on 09/23/2025, bringing his beneficial ownership to 71,490 shares.

What are the vesting terms for the restricted shares reported by Holt?

The restricted stock vests in three equal annual installments beginning on 09/23/2026.

At what price were the restricted shares acquired according to the Form 4?

The shares were reported as acquired at a price of $0.

Who signed the Form 4 and when was it filed?

The Form 4 was signed by Meredith Hayes as attorney-in-fact and dated 09/25/2025.

Was this Form 4 filed by multiple reporting persons?

No, the form indicates it was filed by one reporting person.