Lumen Technologies Inc.
09/15/2025 | Press release | Distributed by Public on 09/15/2025 14:07
Management Change/Compensation (Form 8-K)
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Item 5.02
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
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On September 9, 2025, Andrea Genschaw submitted her resignation as Chief Accounting Officer and Controller of Lumen Technologies, Inc. (the "Company"), effective September 23, 2025 (the "Effective Date"), in order to assume a Chief Financial Officer position at another publicly-traded company. Ms. Genschaw's departure is not the result of any disagreement with the Company on any matter relating to the Company's operations, policies or practices. Ms. Genschaw leaves the Company with a strong accounting organization in place and the Company thanks her for her many contributions.
On September 12, 2025, consistent with the Company's long-term succession plan, the Company's Board of Directors (the "Board") appointed Donald Holt as the Company's Chief Accounting Officer and Controller, effective on the Effective Date. Also on September 12, 2025, the Boards of Directors of Qwest Corporation and Level 3 Parent, LLC each appointed Mr. Holt as their respective Chief Accounting Officer and Controller, effective September 23, 2025.
Mr. Holt, age 49, has served as the Company's Vice President and Assistant Controller since September 2023. He served in several other roles of increasing responsibility within the Company's finance organization, including as Senior Director, Margin Accounting from June 2021 to September 2023 and as Senior Director, Accounting and Reporting from April 2016 to May 2021. Prior to that, he served as Assistant Controller at Intrepid Potash, a U.S. producer of potash, from January 2014 to March 2016, as Controller of Cummins Rocky Mountain LLC, an engine manufacturer, from August 2012 to December 2013, as Director of SEC Reporting at Qwest Communications International Inc. from November 2008 through and following its acquisition by the Company until July 2012 and as Director of Technical Accounting at Vail Resorts, Inc., a premier mountain resort company, from August 2004 to November 2008. Mr. Holt started his career as an Auditor at Deloitte. Mr. Holt received his B.S.B. in Accounting from the University of Minnesota and is an active CPA.
In connection with Mr. Holt's appointment, the Board's Human Resources and Compensation Committee has approved the following changes to Mr. Holt's compensation:
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Mr. Holt's salary will increase to $350,000, effective on the Effective Date.
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Mr. Holt's target short-term incentive annual bonus target will increase to 70% of annual base salary, effective on the Effective Date.
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The target value for Mr. Holt's long-term incentive award will be increased to $425,000 per year.
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Mr. Holt will receive a
one-time
long-term incentive cash award opportunity of $150,000, with such award to be paid out ratably on the first through third anniversaries of the Effective Date, subject to continued employment.
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Mr. Holt will receive a
one-time
restricted stock award comprised of that number of shares of restricted stock calculated by dividing $150,000 by the 15 trading day trailing volume weighted average price of the Company's common stock ending on the trading date immediately preceding the Effective Date, which will vest in equal installments on each of the first through third anniversaries of the Effective Date, subject to continued employment.
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Lumen Technologies Inc. published this content on September 15, 2025, and is solely responsible for the information contained herein. Distributed via SEC EDGAR on September 15, 2025 at 20:08 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]