Lumen Technologies, Inc.
Shareholder Proposals
Item 7
G
Require the Board to submit any current or future shareholder rights plan ("poison pill") or amendments for shareholder approval as a separate ballot item within 12 months.
Requests the Board to adopt a policy that any existing or newly adopted shareholder rights plan (commonly called a "poison pill") or any amendment thereto be submitted to a shareholder vote as a separate ballot item within 12 months. The proposal argues that rights plans can entrench management, dilute shareholder voting power, and prevent shareholders from disciplining management through the market. It cites historical commentary criticizing poison pills and points to the company’s share price decline as context for urging more shareholder control over such defensive measures. If adopted, the policy would require formal shareholder ratification of rights plans rather than leaving implementation solely to the Board.