Lumen amends executive severance plan; CEO Kate Johnson's agreement restated
Lumen Technologies amended its executive severance arrangements on October 22, 2026, moving its CEO Kate Johnson and other named executive officers into a new Lumen Executive Severance Plan and terminating their individual change of control agreements with their consent. The company said the changes simplify administration and did not materially change severance or change-in-control benefits, though Ms. Johnson's restated agreement conforms certain terms and removes a non-competition covenant to comply with a Washington state law effective June 30, 2027.
Key points
- Kate Johnson's non-CIC severance is 104 weeks of base salary plus target annual bonus, per the restated agreement dated October 22, 2026.
- CIC severance for Ms. Johnson is 2.5 times the sum of base salary and target annual bonus, within 24 months after a change in control.
- The company says benefits are substantially the same as under the prior plan, and no excise tax gross-up is provided.
- Ms. Johnson's non-competition covenant is removed to comply with Washington Engrossed Substitute House Bill 1155, effective June 30, 2027.
The filing
Written by AI on Nov 7, 2026, 11:17 PM ET, from this filing only.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.