Restricted stock grant boosts Lumen (NYSE: LUMN) director’s holdings

Rhea-AI Filing Summary

GOLDBERG MICHELLE J reported acquisition or exercise transactions in this Form 4 filing.

Lumen Technologies director Michelle J. Goldberg received a grant of 25,197 shares of common stock, treated as restricted stock that was valued at $9.44 per share. This equity award will vest on May 21, 2027 and increases her direct holdings to 76,591 shares.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider GOLDBERG MICHELLE J

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)

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Key Figures

Restricted stock granted: 25,197 shares Grant price: $9.44 per share Shares owned after grant: 76,591 shares +1 more

4 metrics

Restricted stock granted 25,197 shares Grant of common stock on May 21, 2026

Grant price $9.44 per share Reference value for restricted stock award

Shares owned after grant 76,591 shares Director’s direct holdings after the award

Vesting date May 21, 2027 Date restricted stock grant becomes fully vested

Key Terms

restricted stock, vesting, grant, award, or other acquisition

3 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.

vesting financial

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

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

grant, award, or other acquisition regulatory

"transaction_code_description: Grant, award, or other acquisition"

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^*

GOLDBERG MICHELLE J

(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 Michelle Goldberg	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 insider transaction did Lumen (LUMN) director Michelle J. Goldberg report?

Michelle J. Goldberg reported receiving a grant of 25,197 shares of Lumen common stock as restricted stock. The award is coded as an acquisition (grant/award) rather than an open-market purchase, reflecting equity-based compensation to increase her ownership stake.

At what price was Michelle J. Goldberg’s Lumen restricted stock grant valued?

The 25,197-share restricted stock grant to Michelle J. Goldberg was valued at $9.44 per share. This figure is used as the grant price reference and does not represent an open-market trade, but rather the award valuation for compensation reporting purposes.

When will Michelle J. Goldberg’s new Lumen restricted shares vest?

The grant of restricted stock to Michelle J. Goldberg will vest on May 21, 2027. Vesting means the shares become fully earned and transferable under the award terms, aligning her long-term incentives with Lumen Technologies’ future performance over that period.

How many Lumen shares does Michelle J. Goldberg hold after this Form 4 transaction?

Following the restricted stock grant, Michelle J. Goldberg holds 76,591 Lumen common shares directly. This total includes the 25,197 newly granted restricted shares, reinforcing her equity exposure as a director and aligning her interests with other Lumen shareholders.

Is Michelle J. Goldberg’s Lumen Form 4 transaction an insider buy or a compensation grant?

The Form 4 transaction is a compensation-related grant, not an open-market insider buy. It is coded as a grant, award, or other acquisition of 25,197 restricted shares, reflecting standard director equity compensation rather than a discretionary stock market purchase.