On May 15, 2024, Lumen Technologies, Inc. conducted its annual meeting of shareholders where several key decisions were made. Shareholders approved the 2024 Equity Incentive Plan, which allows for the issuance of up to 43 million shares of common stock, plus additional shares from the predecessor 2018 plan that are unexercised or forfeited. The Plan is designed for key employees, officers, directors, and consultants or advisors, offering various forms of stock-based compensation. The Human Resources and Compensation Committee of the Board will administer the Plan, which can be amended or discontinued by the Board with certain restrictions. The Plan will expire on May 15, 2034, unless terminated earlier. Additionally, shareholders voted on the election of directors, ratification of KPMG LLP as the independent auditor for 2024, approval...Show More

On May 15, 2024, Lumen Technologies, Inc. conducted its annual meeting of shareholders where several key decisions were made. Shareholders approved the 2024 Equity Incentive Plan, which allows for the issuance of up to 43 million shares of common stock, plus additional shares from the predecessor 2018 plan that are unexercised or forfeited. The Plan is designed for key employees, officers, directors, and consultants or advisors, offering various forms of stock-based compensation. The Human Resources and Compensation Committee of the Board will administer the Plan, which can be amended or discontinued by the Board with certain restrictions. The Plan will expire on May 15, 2034, unless terminated earlier. Additionally, shareholders voted on the election of directors, ratification of KPMG LLP as the independent auditor for 2024, approval of the Second Amended and Restated Section 382 Rights Agreement, amendments to the articles of incorporation including a potential reverse stock split, and an advisory vote on executive compensation. The Board has the discretion to implement a Reverse Stock Split until May 15, 2025, and plans to eliminate the common stock's par value by the end of 2024.