Lumen Technologies, Inc. — Form 10-Q

Lumen filed updated template agreements for restricted stock, RSUs, and cash/equity compensation for outside directors under its 2024 Equity Incentive Plan, effective May 20–August 13, 2026. The agreements contain standard vesting terms (typically one year), forfeiture clauses for competitive conduct, and non-disparagement covenants. Annual outside director compensation capped at $1M ($500K equity max): $100K cash retainer, $235K annual equity grant (at grant-date fair value), plus committee fees and benefits. No new grants to named individuals are disclosed—these are form agreements for future use. Subsidiary Qwest issued notes due 2051/2052 with Lumen as guarantor (routine debt guarantee disclosure).