Form 4: Lumen Technologies CEO Transfers Shares for Estate Planning

Lumen Technologies CEO, Kathleen E. Johnson, transferred 65,834 shares of common stock to an irrevocable trust for estate planning purposes.

Summary

• Kathleen E. Johnson, the President and CEO of Lumen Technologies, transferred 65,834 shares of Lumen common stock on November 12, 2024.
• The shares were transferred to an irrevocable trust for the benefit of her spouse and children for estate planning purposes.
• This transfer did not involve a sale, and the price per share was $0 for the transaction.
• Following the transaction, Ms. Johnson directly owns 6,889,251 shares and indirectly owns 2,278,362 shares through a spousal trust.
• Ms. Johnson disclaims ownership of the shares held in the spousal trust, except for her beneficial interest.

Sentiment

Score: 5

Explanation: The document is neutral, detailing a routine stock transfer for estate planning purposes. It does not indicate any positive or negative sentiment regarding the company's performance or outlook.

Industry Context

This is a routine filing related to executive stock ownership and estate planning, and does not indicate any change in the company's operations or outlook.

Comparison to Industry Standards

• Executive stock transfers for estate planning are common among publicly traded companies.
• The use of irrevocable trusts is a standard method for managing assets for family members.
• The reporting of these transactions via SEC Form 4 is a standard regulatory requirement.

Stakeholder Impact

• The transaction has no direct impact on shareholders, employees, customers, suppliers, or creditors as it is a personal estate planning matter for the CEO.

Key Dates

Keywords

Lumen Technologies, Kathleen E. Johnson, stock transfer, estate planning, beneficial ownership, irrevocable trust, SEC Form 4