Lumen Technologies, Inc. shareholders rejected Shareholder proposal regarding a shareholder right to vote for or against a shareholder rights plan at the 2026-05-20 meeting.
“Item 7 . The Company’s shareholders did not approve the shareholder proposal regarding a shareholder right to vote for or against a shareholder rights plan, by the following vote: FOR AGAINST ABSTAIN BROKER NON-VOTES 327,301,328 357,615,031 2,798,471 157,409,626”
Shareholder Votes
Lumen Technologies, Inc. shareholders approved Advisory (non-binding) vote on compensation of named executive officers at the 2026-05-20 meeting.
“Item 6 . The Company’s shareholders approved, on an advisory (non-binding) basis, the compensation of the Company’s named executive officers, by the following vote: FOR AGAINST ABSTAIN BROKER NON-VOTES 652,013,005 33,084,417 2,617,408 157,409,626”
Shareholder Votes
Lumen Technologies, Inc. shareholders approved Approval of Amended and Restated 2024 Equity Incentive Plan at the 2026-05-20 meeting.
“Item 5 . The Company’s shareholders approved the Company’s Amended and Restated 2024 Equity Incentive Plan, by the following vote: FOR AGAINST ABSTAIN BROKER NON-VOTES 658,004,226 22,259,831 7,550,773 157,409,626”
Shareholder Votes
Lumen Technologies, Inc. shareholders approved Approval of amendments to Articles of Incorporation to provide for exceptions to the definition of "Related Person" at the 2026-05-20 meeting.
“Item 4 . The Company’s shareholders approved amendments to the Company’s Articles of Incorporation to provide for exceptions to the definition of “Related Person”, by the following vote: FOR AGAINST ABSTAIN BROKER NON-VOTES 669,464,426 10,316,602 7,933,802 157,409,626”
Shareholder Votes
Lumen Technologies, Inc. shareholders rejected Approval of amendment to Articles of Incorporation to remove a supermajority voting requirement related to provisions governing limitation of liability and indemnification of directors at the 2026-05-20 meeting.
“Item 3B . The Company’s shareholders did not approve an amendment to the Company’s Articles of Incorporation to remove a supermajority voting requirement related to provisions governing limitation of liability and indemnification of directors, by the following vote: FOR AGAINST ABSTAIN BROKER NON-VOTES 665,279,825 15,442,159 6,992,846 157,409,626”
Shareholder Votes
Lumen Technologies, Inc. shareholders approved Approval of amendments to Articles of Incorporation to remove supermajority voting requirements related to provisions governing removal of directors, approval of certain business combinations, certain amendments to the Company’s Articles of Incorporation and amendments to Company’s Bylaws at the 2026-05-20 meeting.
“Item 3A . The Company’s shareholders approved amendments to the Company’s Articles of Incorporation to remove supermajority voting requirements related to provisions governing removal of directors, approval of certain business combinations, certain amendments to the Company’s Articles of Incorporation and amendments to Company’s Bylaws, by the following vote: FOR AGAINST ABSTAIN BROKER NON-VOTES 666,291,662 14,453,951 6,969,217 157,409,626”
Shareholder Votes
Lumen Technologies, Inc. shareholders approved Ratification of KPMG LLP as independent auditor for 2026 at the 2026-05-20 meeting.
“Item 2 . The Company’s shareholders ratified the appointment of KPMG LLP as the Company’s independent auditor for 2026, by the following vote: FOR AGAINST ABSTAIN BROKER NON-VOTES 826,383,164 14,345,896 4,395,396 0”
Shareholder Votes
Lumen Technologies, Inc. shareholders approved Election of Directors at the 2026-05-20 meeting.
“Item 1 . The Company shareholders elected each of the following director nominees to serve on the Company’s Board of Directors until the 2027 annual meeting of shareholders or until their respective successors have been duly elected and qualify, by the following votes: Name of Nominee FOR AGAINST ABSTAIN BROKER NON-VOTES Quincy L. Allen 674,786,726 10,143,678 2,784,426 157,409,626 Martha Helena Béjar 676,739,028 8,284,706 2,691,096 157,409,626 Christopher Capossela 678,469,496 6,570,988 2,674,346 157,409,626 Kevin P. Chilton 677,801,363 7,294,957 2,618,510 157,409,626 Michael Collins 679,092,388 5,967,700 2,654,742 157,409,626 Michelle J. Goldberg 678,491,944 6,644,842 2,578,044 157,409,626 Kate Johnson 678,603,180 6,518,493 2,593,157 157,409,626 Diankha Linear 677,003,556 8,017,027 2,694,247 157,409,626 Stephen McMillan 678,147,350 6,944,676 2,622,804 157,409,626”
Governance Changes
Lumen Technologies, Inc.: Amendments to Articles of Incorporation to eliminate supermajority voting requirements and exclude certain categories from definition of Related Person (effective 2026-05-26).
“On May 20, 2026, at the Annual Meeting, the shareholders of the Company approved amendments to the Company’s Articles of Incorporation, as amended, to: • eliminate certain of the supermajority voting requirements for matters subject to shareholder approval and to replace such requirements with a majority of votes cast standard; and • exclude certain categories of persons from the definition of “Related Person”. On May 26, 2026, the Company filed Amended and Restated Articles of Incorporation reflecting the foregoing amendments”
Material Agreements
Lumen Technologies, Inc. entered into Indenture with U.S. Bank Trust Company, National Association valued at $1.00 billion aggregate principal amount (effective 2026-05-21).
“entered into an indenture (the “Indenture”) with U.S. Bank Trust Company, National Association, as trustee, dated May 21, 2026, which sets forth the terms of the Notes”
Debt Financings
Lumen Technologies, Inc. incurred senior notes of $1.00 billion aggregate principal amount at 7.500% maturing due 2037.
“completed its previously-announced offering of $1.00 billion aggregate principal amount of its 7.500% Senior Notes due 2037”
Material Agreements
Lumen Technologies, Inc. amended Third Amendment with Level 3 Financing, Inc.; Level 3 Parent, LLC; Wilmington Trust, National Association valued at $2,400 million (effective 2026-05-13).
“On May 13, 2026 (the “Amendment Date”), Level 3 Financing, Inc. (“Level 3”), an indirect wholly owned subsidiary of Lumen Technologies, Inc. (the “Company”) and a direct wholly owned subsidiary of Level 3 Parent, LLC (“Level 3 Parent”), (i) refinanced all of the outstanding secured term B-4 loan facilities under its existing Credit Agreement, dated March 22, 2024 (the “Existing Level 3 Credit Agreement”), by and among Level 3, Level 3 Parent, Wilmington Trust, National Association, as administrative agent and collateral agent, and the lenders from time to time party thereto and (ii) entered into an amendment to the Existing Level 3 Credit Agreement (the “Third Amendment”) (the transactions referred to in clauses (i) and (ii), the “Credit Facilities Transactions”).”
Debt Financings
Lumen Technologies, Inc. amended credit facility with Wilmington Trust, National Association at SOFR plus 2.75% maturing March 27, 2032.
“entered into an amendment to the Existing Level 3 Credit Agreement (the “Third Amendment”)”
Earnings Releases
Lumen Technologies, Inc. reported first quarter ended March 31, 2026 results: revenue $2.899 billion, net income Net Loss of $(200) million, EPS diluted loss per share of $(0.20).
“that supports our path to revenue growth outlined at Investor Day, while remaining on track to meet full-year guidance.” 1 First Quarter 2026 Highlights • Reported revenues of $2.899 billion for the first quarter 2026 • Reported Net Cash Provided by Operating Activities of $1.323 billion 1 for the first quarter 2026 compared to Net Cash Provided by Operating”
Material Agreements
Lumen Technologies, Inc. entered into Lumen Parent Guarantee Agreement with Level 3 Financing, Inc., Wilmington Trust, National Association (effective 2026-04-30).
“On April 30, 2026, Lumen entered into the Lumen Parent Guarantee Agreement (the “Guarantee Agreement”), by and among Lumen, Level 3, as borrower, and Wilmington Trust, National Association, as administrative agent, pursuant to which Lumen provided an unconditional guarantee on a senior unsecured basis of Level 3’s obligations under the credit facilities created pursuant to its Credit Agreement, dated March 22, 2024 (as amended, restated, amended and restated or otherwise modified, the “Credit Agreement”) by and among Level 3, as borrower, Level 3 Parent, as guarantor, Wilmington Trust, National Association, as administrative agent and collateral agent, and the lenders from time to time party thereto.”
Material Agreements
Lumen Technologies, Inc. entered into Supplemental Indentures with Level 3 Financing, Inc., Level 3 Parent, LLC, other guarantors, U.S. Bank Trust Company, National Association, Wilmington Trust, National Association (effective 2026-04-30).
“On April 30, 2026, Lumen Technologies, Inc., a Louisiana corporation (“Lumen”), entered into supplemental indentures (the “Supplemental Indentures”) to (a) the indenture, dated as of June 30, 2025, by and among, Level 3 Financing, Inc. (“Level 3”), as issuer, Level 3 Parent, LLC (“Level 3 Parent”), as a guarantor, the other guarantors party thereto, U.S. Bank Trust Company, National Association (the “Trustee”), as trustee, and Wilmington Trust, National Association (the “Collateral Agent”), as collateral agent, relating to the 6.875% first lien notes due 2033 of Level 3 and (b) the indenture, dated as of August 18, 2025, by and among Level 3, Level 3 Parent, the other guarantors party thereto, the Trustee, and the Collateral Agent, relating to the 7.000% first lien notes due 2034 of Level 3 (collectively, the “1L Indentures”).”
Material Agreements
Lumen Technologies, Inc. entered into Credit Agreement with Bank of America, N.A. valued at $825 million (effective 2026-04-14).
“entered into the Revolving Credit Agreement (the “Credit Agreement”) providing for a revolving credit facility with commitments of $825 million.”
Debt Financings
Lumen Technologies, Inc. incurred revolving credit of commitments of $825 million with Bank of America, N.A., as administrative agent and collateral agent at Term SOFR (subject to a 0.00% floor) plus 2.75% for Term SOFR loans or (ii) a ba maturing April 14, 2029.
“On April 14, 2026, Lumen Technologies, Inc., a Louisiana corporation (“Lumen”), as borrower, the lenders party thereto and Bank of America, N.A., as administrative agent and collateral agent, entered into the Revolving Credit Agreement (the “Credit Agreement”) providing for a revolving credit facility with commitments of $825 million.”
M&A Transactions
Lumen Technologies, Inc. completed a disposition involving Forged Fiber 37, LLC, an indirect wholly owned subsidiary of AT&T Inc. for $5.75 billion (closed 2026-02-02).
“On February 2, 2026 (the “Closing Date”), Lumen Technologies, Inc. (“Lumen” or the “Company”) and certain of its indirect wholly owned subsidiaries (collectively, the “Sellers”) completed the previously announced sale of Lumen’s Mass Markets fiber-to-the-home business in Arizona, Colorado, Florida, Idaho, Iowa, Minnesota, Nebraska, Nevada, Oregon, Utah and Washington (the “Business” and the sale of the Business, the “Transaction”) following a series of pre-closing and closing transactions pursuant to the Purchase Agreement (the “Agreement”), dated May 21, 2025, with Forged Fiber 37, LLC (the “Purchaser”), an indirect wholly owned subsidiary of AT&T Inc. (“AT&T”), and AT&T DW Holdings, Inc., an indirect wholly owned subsidiary of AT&T. On the Closing Date, the Sellers received cash consideration of $5.75 billion, subject to adjustments for working capital and other negotiated purchase price adjustments specified in the Agreement.”
Material Agreements
Lumen Technologies, Inc. entered into Indenture with U.S. Bank Trust Company, National Association valued at $650 million aggregate principal amount (effective 2026-01-09).
“On January 9, 2026, Level 3 Financing, Inc. (“Level 3 Financing”), a direct wholly-owned subsidiary of Level 3 Parent, LLC (“Parent”), and an indirect wholly-owned subsidiary of Lumen Technologies, Inc. (“Lumen,” “us,” “we” or “our”) completed its previously announced upsized offering of additional $650 million aggregate principal amount of its 8.500% Senior Notes due 2036 (the “New Notes”).”
Material Agreements
Lumen Technologies, Inc. entered into Indenture with U.S. Bank Trust Company, National Association valued at $1.25 billion aggregate principal amount of 8.500% Senior Notes due 2036 (effective 2025-12-23).
“On December 23, 2025, Level 3 Financing, Inc. (“Level 3 Financing”), a direct wholly-owned subsidiary of Level 3 Parent, LLC (“Parent”), and an indirect wholly-owned subsidiary of Lumen Technologies, Inc. (“Lumen,” “us,” “we” or “our”): • completed its previously-announced upsized offering of $1.25 billion aggregate principal amount of its 8.500% Senior Notes due 2036 (the “Notes”); and • in connection therewith, entered into an indenture (the “Indenture”) with U.S. Bank Trust Company, National Association, as trustee, dated December 23, 2025, which sets forth the terms of the Notes.”
Debt Financings
Lumen Technologies, Inc. incurred senior notes of $1.25 billion aggregate principal amount with U.S. Bank Trust Company, National Association at 8.500% maturing due 2036.
“completed its previously-announced upsized offering of $1.25 billion aggregate principal amount of its 8.500% Senior Notes due 2036”
Debt Financings
Lumen Technologies, Inc. amended term loan of $2,400 million at SOFR plus 3.25% maturing March 27, 2032.
“(the “Term Loan Facility”), and to make related changes to effect such repricing, as described below. Immediately following the Credit Facilities Transactions, Level 3 had $2,400 million of outstanding borrowings under the Term Loan Facility. Borrowings under the Term Loan Facility will not amortize. Borrowings under the Term Loan Facility will be, at Level 3’s”
Debt Financings
Lumen Technologies, Inc. incurred senior notes of $425,000,000 at 7.000% maturing due 2034.
“On September 8, 2025, Level 3 Financing, Inc. (“Level 3 Financing”), a direct wholly-owned subsidiary of Level 3 Parent, LLC (“Parent”) and an indirect wholly-owned subsidiary of Lumen Technologies, Inc. (“Lumen,” “us,” “we” or “our”) completed its previously-announced offering of an additional $425,000,000 aggregate principal amount of its 7.000% First Lien Notes due 2034 (the “New Notes”).”
Debt Financings
Lumen Technologies, Inc. incurred senior notes of $2.0 billion aggregate principal amount with U.S. Bank Trust Company, National Association, as trustee and Wilmington Trust, National Association, as collateral agent at 7.000% maturing 2034.
“completed its previously-announced upsized offering of $2.0 billion aggregate principal amount of its 7.000% First Lien Notes due 2034 (the “Notes”); and • in connection therewith, entered into an indenture (the “Indenture”) with U.S. Bank Trust Company, National Association, as trustee and Wilmington Trust, National Association, as collateral agent, dated August 18, 2025”
Debt Financings
Lumen Technologies, Inc. incurred senior notes of $2.0 billion aggregate principal amount at 6.875% maturing 2033.
“completed its previously-announced upsized offering of $2.0 billion aggregate principal amount of its 6.875% First Lien Notes due 2033 (the “Notes”)”
Debt Financings
Lumen Technologies, Inc. amended credit facility of $2,400 million at SOFR plus 4.25% maturing March 27, 2032.
“to effect such repricing and (ii) extend the maturity of the Term Loan Facility, as described below. Immediately following the Credit Facilities Transactions, Level 3 had $2,400 million of outstanding borrowings under the Term Loan Facility. Borrowings under the Term Loan Facility will not amortize. Borrowings under the Term Loan Facility will be, at Level 3’s”
Christopher Capossela was appointed as Director at Lumen Technologies, Inc..
“On October 29, 2024, the board of directors (the “Board”) of Lumen Technologies, Inc. (the “Company”), on the recommendation of its nominating and corporate governance committee, voted to increase its size from 11 members to 12 members and to appoint Christopher Capossela to fill the newly-created vacancy.”
Shareholder Votes
Lumen Technologies, Inc. shareholders approved Ratification of appointment of KPMG LLP as independent auditor for 2024 at the 2024-05-15 meeting.
“(2) The appointment of KPMG LLP as independent auditor for 2024 was ratified with 651,507,776 votes for, 57,824,290 votes against, 6,546,887 abstentions, and 0 broker non-votes.”
Shareholder Votes
Lumen Technologies, Inc. shareholders approved Election of directors at the 2024-05-15 meeting.
“(1) The following nominees were elected to serve on the Board of Directors: Name of Nominee Votes Cast For Votes Cast Against Abstentions Broker Non-Votes Quincy L. Allen 500,787,673 17,076,412 2,932,149 195,082,719 Martha Helena Bejar 480,704,155 37,256,165 2,835,914 195,082,719 Peter C. Brown 495,327,820 22,504,757 2,963,657 195,082,719 Kevin P. Chilton 501,341,466 16,500,522 2,954,246 195,082,719 Steven T. “Terry” Clontz 499,463,155 18,352,840 2,980,239 195,082,719 Jim Fowler 503,712,740 13,995,667 3,087,827 195,082,719 T. Michael Glenn 499,920,515 17,870,998 3,004,721 195,082,719 Kate Johnson 503,115,600 15,000,946 2,679,688 195,082,719 Hal Stanley Jones 500,974,425 16,817,972 3,003,837 195,082,719 Diankha Linear 502,649,505 15,082,965 3,063,764 195,082,719 Laurie Siegel 492,571,571 25,310,127 2,914,536 195,082,719”
Chad Ho was appointed as chief legal officer at Lumen Technologies, Inc..
“and that Mr. Chad Ho will succeed Mr. Goff as chief legal officer.”
Stacey Goff departed as general counsel and secretary at Lumen Technologies, Inc..
“On May 6, 2024, Lumen Technologies, Inc. (the “Company”) announced that Mr. Stacey Goff, the general counsel and secretary of the Company and its principal subsidiaries, will be leaving the Company”
Earnings Releases
Lumen Technologies, Inc. reported first quarter ended March 31, 2024 results: revenue $ 3,290, net income 57, EPS 0.06. Guidance reaffirmed.
“Total Revenue (3)(4) $ 3,290 3,738 Cost of Services and Products 1,652 1,817 Selling, General and Administrative Expenses 823 721 Net Loss on Sale of Business 22 77 Stock-based Compensation Expense 14 14 Net Income 57 511 Net (Loss) Income, Excluding Special Items (5)(6) (41) 97 Adjusted EBITDA (2)(5)(7)(8) 807 1,137 Adjusted EBITDA, Excluding Special Items (2)(5)(7)(8)(9) 977 1,251 Net Income Margin 1.7 % 13.7 % Net (Loss) Income Margin, Excluding Special Items (5)(6) (1.2) % 2.6 % Adjusted EBITDA Margin (5) 24.5 % 30.4 % Adjusted EBITDA Margin, Excluding Special Items (5)(9) 29.7 % 33.5 % Net Cash Provided by Operating Activities 1,102 595 Capital Expenditures (10) 713 640 Unlevered Cash Flow (5) 670 305 Unlevered Cash Flow, Excluding Cash Special Items (5)(11) 799 275 Free Cash Flow (5) 389 (45) Free Cash Flow, Excluding Cash Special Items (5)(11) 518 (75) Net Income per Common Share - Diluted 0.06 0.52”
Restructurings & Charges
Lumen Technologies, Inc. announced a restructuring with charges of approximately $90 to $100 million (less than 7%).
“completed by the end of the second quarter of 2024. As a result of this plan, the Company expects to incur severance and related costs in the range of approximately $90 to $100 million, substantially all of which we expect to record in the second quarter of 2024. Other than these costs, the Company does not expect to incur any material impairment”
Material Agreements
Lumen Technologies, Inc. entered into Second Supplemental Indenture to Lumen 4.000% Senior Secured Notes due 2027 with Computershare Trust Company, N.A. valued at Eliminated restrictive covenants and released guarantees and security interests (effective 2024-03-22).
“On the Effective Date, Lumen, certain subsidiaries of Lumen party thereto and Computershare Trust Company, N.A., as trustee and notes collateral agent, entered into a second supplemental indenture to the indenture, dated as of January 24, 2020, governing Lumen’s 4.000% senior secured notes due 2027 (the “ Existing Lumen Notes ”), that, among other things, (i) eliminated substantially all of the restrictive covenants and certain events of default and (ii) released the guarantees of the Existing Lumen Notes and the security interests in the collateral securing such notes (the “ Lumen Supplemental Indenture ”).”
Material Agreements
Lumen Technologies, Inc. entered into Amended and Restated Credit Agreement Amendment Agreement with Bank of America, N.A. valued at Amendment to Existing Lumen Credit Agreement; removed certain covenants, amended collateral agreemen (effective 2024-03-22).
“On the Effective Date, Lumen, as borrower, Bank of America, N.A. (“ BofA ”), as administrative agent and collateral agent, and the subsidiaries of Lumen, lenders and issuing banks party thereto entered into an amendment agreement (the “ Amendment Agreement ”) to that certain Amended and Restated Credit Agreement, dated as of January 31, 2020, among Lumen, the lenders and issuing banks party thereto and BofA, as administrative agent, collateral agent and swingline lender (as amended or otherwise modified prior to the date of the Amendment Agreement, the “ Existing Lumen Credit Agreement ” and, as amended, the “ Amended Lumen Credit Agreement ”).”
Material Agreements
Lumen Technologies, Inc. entered into Superpriority Revolving/Term A Credit Agreement with Bank of America, N.A. valued at $489 million SP RCF-A, $467 million SP RCF-B, $377 million SP TLA (effective 2024-03-22).
“On the Effective Date, Lumen, as borrower, the lenders party thereto and BofA, as administrative agent and collateral agent, entered into the Superpriority Revolving/Term A Credit Agreement (the “ RCF/TLA Credit Agreement ”) providing for (i) a superpriority “first out” series A revolving credit facility with commitments of approximately $489 million (the “ SP RCF-A ”), (ii) a superpriority “second out” series B revolving credit facility with commitments of approximately $467 million (the “ SP RCF-B ”, and together with the SP RCF-A, the “ SP RCF ”) and (iii) a superpriority secured term loan facility in the amount of approximately $377 million (the “ SP TLA ”).”
Diankha Linear was appointed as Director at Lumen Technologies, Inc..
“voted to increase its size from 11 members to 12 members and to appoint Diankha Linear to fill the newly-created vacancy.”
Earnings Releases
Lumen Technologies, Inc. reported the fiscal year ended December 31, 2023 results: revenue $14,557, net income $(10,298) billion, EPS $(10.48).
“8,410 9,450 Wholesale 741 835 3,125 3,591 Business Segment Revenue 2,788 3,005 11,535 13,041 Mass Markets Segment Revenue 729 795 3,022 4,437 Total Revenue (1)(2) $ 3,517 3,800 14,557 17,478 Cost of Services and Products 1,737 1,826 7,144 7,868 Selling, General and Administrative Expenses 896 671 3,198 3,078 Net Loss (Gain) on Sale of Businesses (3) 9 480 121”
Earnings Releases
Lumen Technologies, Inc. reported the fourth quarter ended December 31, 2023 results: revenue $3,517, net income $(1,995) billion, EPS $(2.03).
“2,047 2,170 8,410 9,450 Wholesale 741 835 3,125 3,591 Business Segment Revenue 2,788 3,005 11,535 13,041 Mass Markets Segment Revenue 729 795 3,022 4,437 Total Revenue (1)(2) $ 3,517 3,800 14,557 17,478 Cost of Services and Products 1,737 1,826 7,144 7,868 Selling, General and Administrative Expenses 896 671 3,198 3,078 Net Loss (Gain) on Sale of Businesses”
Material Agreements
Lumen Technologies, Inc. amended Amended and Restated Transaction Support Agreement with certain holders of the debt of the Company and Level 3 (effective 2024-01-22).
“On January 22, 2024, the Company, Level 3, Qwest, the Original TSA Parties and certain other holders of the debt of the Company and Level 3 (such holders, together with the Original TSA Parties, the “ Consenting Parties ” and the Consening Parties, together with the Company Parties, the “ Parties ”) entered into an Amended and Restated Transaction Support Agreement (together with all exhibits, annexes and schedules thereto, the “ A&R Transaction Support Agreement ”).”
M&A Transactions
Lumen Technologies, Inc. completed a disposition involving Colt Technology Services Group Limited for $1.8 billion (closed 2023-11-01).
“On November 1, 2023, Lumen Technologies, Inc. (“Lumen” or the “Company”) and certain of its wholly-owned subsidiaries (collectively “Sellers”) completed the previously disclosed sale of certain of Sellers’ operations in Europe, the Middle East and Africa (the “Sale”) to Colt Technology Services Group Limited (“Colt”) and certain of its wholly-owned subsidiaries (collectively with Colt, “Purchasers”), all of which are portfolio companies of Fidelity Investments, in exchange for pre-tax cash proceeds of $1.8 billion, less closing adjustments and estimated transaction costs.”
Material Agreements
Lumen Technologies, Inc. entered into Transaction Support Agreement with Level 3 Financing, Inc., Qwest Corporation, and certain holders of the debt of the Company and Level 3 valued at Comprehensive maturity extensions, $1,200 million in new money long term senior secured first lien i (effective 2023-10-31).
“On October 31, 2023, Lumen Technologies, Inc. (the “ Company ”) entered into a Transaction Support Agreement (together with all exhibits, annexes and schedules thereto, the “ Transaction Support Agreement ”) with (i) Level 3 Financing, Inc. (“ Level 3 ”), (ii) Qwest Corporation (“ Qwest ”, together with the Company and Level 3, the “ Company Parties ”), and (iii) certain holders of the debt of the Company and Level 3 (such holders, the “ Consenting Parties ” and together with the Company Parties, the “ Parties ”) to define their commitments to effect a series of transactions to provide the Company and Level 3 with comprehensive maturity extensions while allowing them to maintain sufficient operating liquidity and financial flexibility.”
Earnings Releases
Lumen Technologies, Inc. reported the third quarter ended September 30, 2023 results: net income $(78) million, EPS $(0.08).
“On October 31, 2023, Lumen Technologies, Inc. (the “Company” or “we” or “us”) issued a press release announcing operating results for the third quarter of 2023.”
James Fowler was appointed as Director at Lumen Technologies, Inc..
“Effective August 7, 2023, the board of directors (the “Board”) of Lumen Technologies, Inc. (the “Company”), on the recommendation of its nominating and corporate governance committee, voted to increase its size from 10 members to 11 members and to appoint James “Jim” Fowler to fill the newly-created vacancy.”
Earnings Releases
Lumen Technologies, Inc. reported second quarter 2023 results: net income $(8.736) billion, EPS ($8.88).
“Reported Net Loss of $(8.736) billion for the second quarter 2023, which included a non-cash goodwill impairment charge of $8.793 billion, compared to reported Net Income of $344 million for the second quarter 2022”
Governance Changes
Lumen Technologies, Inc.: Amended and restated bylaws effective immediately, including updates to director nomination procedural requirements and disclosure provisions, along with ministerial changes (effective 2023-05-17).
“On May 17, 2023, the Board of Directors of the Company approved and adopted an amendment and restatement of the Company’s Amended and Restated By-Laws (as amended and restated, the “Restated Bylaws”), effective immediately.”
Shareholder Votes
Lumen Technologies, Inc. shareholders approved Approval of Second Amended and Restated 2018 Equity Incentive Plan at the 2023-05-17 meeting.
“the Company’s shareholders approved the Second Amended and Restated 2018 Equity Incentive Plan”
Earnings Releases
Lumen Technologies, Inc. reported the first quarter ended March 31, 2023 results: revenue $3,738, net income $511 million, EPS $0.52.
“515 573 Public Sector 430 479 Enterprise Channels 2,139 2,494 Wholesale 817 907 Business Segment Revenue 2,956 3,401 Mass Markets Segment Revenue 782 1,275 Total Revenue (1)(2) $ 3,738 4,676 Cost of Services and Products 1,817 1,985 Selling, General and Administrative Expenses 721 800 Loss on disposal group held for sale 77 — Stock-based Compensation Expense 14”
Scott A. Trezise departed as Executive Vice President, Human Resources at Lumen Technologies, Inc..
“On April 24, 2023, Lumen Technologies, Inc. (the “Company”) announced that Scott A. Trezise, Executive Vice President, Human Resources of the Company and its principal subsidiaries, will be leaving the Company.”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.