Lumen (NYSE: LUMN) grants EVP James Fowler 582,887 restricted shares

Rhea-AI Filing Summary

Fowler James reported acquisition or exercise transactions in this Form 4 filing.

Lumen Technologies EVP and Chief Technology & Product Officer James Fowler received a grant of 582,887 shares of common stock as an equity award. These are restricted shares, not purchased on the open market, and increased his directly held stake to 1,631,197 shares.

According to the award terms, 40% of the restricted stock is time-based and will vest in three equal annual installments beginning on March 1, 2027. The remaining 60% is performance-based and will vest on March 1, 2029, but only to the extent two three-year performance metrics are achieved.

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

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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).

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^*

Fowler James

(Last) (First) (Middle)

100 CENTURYLINK DRIVE

(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)
	EVP, Chief Tech & Product Off.

3. Date of Earliest Transaction (Month/Day/Year)
03/01/2026

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	03/01/2026		A(1)		582,887	A	$0	1,631,197	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 (40% time-based and 60% performance-based). The time-based portion will vest in three equal annual installments beginning on March 1, 2027. Vesting of the performance-based portion is dependent upon the extent to which two three-year performance metrics are achieved, with any earned shares vesting on March 1, 2029.

Remarks:

	/s/ Meredith Hayes, as Attorney-in-fact for James Fowler	03/03/2026
	** 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.

FAQ

What insider transaction did Lumen (LUMN) report for James Fowler?

Lumen reported that EVP and Chief Technology & Product Officer James Fowler received a grant of 582,887 restricted shares of common stock. This equity award was not a market purchase and reflects a mix of time-based and performance-based vesting conditions tied to multi-year metrics.

How many Lumen (LUMN) shares does James Fowler hold after this grant?

After the restricted stock grant, James Fowler directly holds a total of 1,631,197 Lumen common shares. This figure includes the newly awarded 582,887 restricted shares, which are subject to specific time-based and performance-based vesting schedules extending through March 1, 2029.

What are the vesting terms of James Fowler’s new Lumen (LUMN) restricted stock?

The grant consists of 40% time-based and 60% performance-based restricted stock. The time-based portion vests in three equal annual installments starting March 1, 2027, while any performance-based shares earned under two three-year performance metrics will vest on March 1, 2029.

Is James Fowler’s Lumen (LUMN) award an open-market stock purchase?

No, the Form 4 shows a grant or award acquisition, not an open-market stock purchase. The 582,887 shares are restricted stock provided as compensation, with vesting linked to time in role and achievement of defined three-year performance metrics over the award period.

How is the performance-based portion of James Fowler’s Lumen (LUMN) award structured?

The performance-based 60% of the restricted stock will vest only if two three-year performance metrics are achieved. Any shares earned under these metrics are scheduled to vest on March 1, 2029, aligning the award’s value with Lumen’s longer-term operating and financial performance.