SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
PUCKETT KAREN A

(Last) (First) (Middle)
100 CENTURYTEL DRIVE

(Street)
MONROE LA 71203

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
CENTURYTEL INC [ CTL ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
President & COO
3. Date of Earliest Transaction (Month/Day/Year)
12/16/2005
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 12/16/2005 M 2,506.1 A $0 53,923.84 D
Common Stock 12/16/2005 D(1) 2,506.1 D $0 51,417.74 D
Common Stock 200 I As Custodian For Child
Common Stock 438.44 I By 401(k)(2)
Common Stock 993.06 I By ESOP(3)
Common Stock 15.2 I By Stock Bonus Plan(4)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Phantom Stock Units (5) 12/16/2005 A 17.8 (6) (6) Common Stock 17.8 $0 2,506.1 D
Phantom Stock Units (5) 12/16/2005 M 2,506.1 (6) (6) Common Stock 2,506.1 $0 0.00 D
Employee Stock Option (right to buy) $29.19 (7) 07/25/2010 Common Stock 100,000 100,000 D
Employee Stock Option (right to buy) $28.03 05/21/2002(8) 05/21/2011 Common Stock 50,000 50,000 D
Employee Stock Option (right to buy) $32.99 02/25/2003(9) 02/25/2012 Common Stock 120,000 120,000 D
Employee Stock Option (right to buy) $27.48 02/24/2004(10) 02/24/2013 Common Stock 49,999 49,999 D
Employee Stock Option (right to buy) $28.34 02/25/2004 02/25/2014 Common Stock 75,000 75,000 D
Employee Stock Option (right to buy) $33.4 02/17/2005(11) 02/17/2015 Common Stock 75,000 75,000 D
Explanation of Responses:
1. Disposition of stock back to company in exchange for cash payment due to termination of plan.
2. As of most recent statement available
3. As of most recent statement available.
4. As of most recent statement available.
5. Security converts on a 1-to-1 basis.
6. The reported phantom stock units were acquired under CTE's excess benefit plan and will be settled upon the reporting person's termination of service.
7. One-third of the stock options are exercisable 7/25/01, one-third are exercisable 7/25/02, and remaining one-third are exercisable 7/25/03.
8. One-third of the Stock Options are exercisable 5/21/02, one-third are exercisable 5/21/03, and one-third are exercisable 5/21/04.
9. One-third of the Stock Options are exercisable 2/25/03, one-third are exercisable 2/25/04, and one-third are exercisable 2/25/05.
10. One-third of the Stock Options are exercisable 2/24/04, one-third are exercisable 2/24/05, and one-third are exercisable 2/24/06.
11. One-third of the options are exercisable immediately, one-third are exercisable 2/17/06, and one-third are exercisable 2/17/07.
Remarks:
By: Kay C. Buchart, Attorney-In-Fact 12/19/2005
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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