Recent Updates — LUMN
Lumen Technologies amended its Lumen Executive Severance Plan to remove the CEO and other named executives as participants, terminating their individual change of control agreements. The company adopted a new consolidated plan preserving substantially similar benefits for non-change-in-control terminations. Concurrently, an amended agreement with CEO Kate Johnson was executed, maintaining her enhanced severance terms, including 104 weeks of base salary for standard termination and 2.5 times salary plus bonus for change-of-control scenarios. The changes streamline administration without materially altering benefit levels. Lumen Technologies operates in the telecommunications industry, providing broadband, fiber, and managed network services.
Lumen Technologies, Inc. announced the voluntary transfer of its common stock and two series of notes (6.500% Notes due 2051 and 6.750% Notes due 2052) from the New York Stock Exchange to The Nasdaq Stock Market LLC. The delisting from NYSE is scheduled for the close of trading on October 5, 2026, with listing on Nasdaq effective at the opening of trading on October 6, 2026. Trading symbols will remain LUMN for common stock and CTGG/CTHH for the notes. CEO Kate Johnson stated the move aligns the exchange listing with the company's strategic pivot toward enterprise networking for AI. The transfer is not expected to impact operations or financial condition.
Lumen Technologies reported second quarter 2026 results with total revenue of $2.805 billion and a net loss of $201 million, or diluted loss per share of $(0.20). Adjusted EBITDA excluding special items was $802 million, while free cash flow excluding special items reached $327 million. The company closed its acquisition of Alkira to expand digital networking capabilities and reiterated its full-year 2026 adjusted EBITDA guidance of $3.1 to $3.3 billion. Additionally, the board appointed John Hinshaw as a director effective August 4, 2026. Lumen Technologies operates in the telecommunications industry, providing network infrastructure, connectivity, and digital platform services.