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Lumen Technologies (LUMN) has provided an announcement.
At the recent Annual Meeting, shareholders of the company cast their votes on key proposals and appointments. All nominated Board of Directors members were elected with a significant majority. KPMG LLP was ratified as the independent auditor for 2024, and the proposed amendments, including a discretionary reverse stock split and the elimination of the $1.00 par value for common stock, were approved. The advisory vote to approve executive compensation also passed. The company may implement a Reverse Stock Split before May 15, 2025, and intends to effect the Par Value Elimination by the end of 2024. These decisions reflect the ongoing efforts to align the company’s strategic direction with shareholder interests.
For an in-depth examination of LUMN stock, go to TipRanks’ Stock Analysis page.