SEC Form 3 
FORM 3	UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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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1. Name and Address of Reporting Person*
Gunderman Kenny	

(Last)	(First)	(Middle)	
10802 EXECUTIVE CENTER DRIVE,	
BENTON BUILDING, SUITE 300	

(Street) 
LITTLE ROCK	AR	72211	

(City)	(State)	(Zip)	
	2. Date of Event Requiring Statement (Month/Day/Year)
03/26/2015 	3. Issuer Name and Ticker or Trading Symbol 
COMMUNICATIONS SALES & LEASING, INC. [ CSAL ] 		
		4. Relationship of Reporting Person(s) to Issuer 
(Check all applicable) 
X	Director		10% Owner	
X	Officer (give title below)		Other (specify below)	
See Remarks	
	5. 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 Beneficially Owned	
1. Title of Security (Instr. 4) 	2. Amount of Securities Beneficially Owned (Instr. 4) 	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 	4. Nature of Indirect Beneficial Ownership (Instr. 5) 	
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities) 	
1. Title of Derivative Security (Instr. 4) 	2. Date Exercisable and Expiration Date (Month/Day/Year)	3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) 	4. Conversion or Exercise Price of Derivative Security 	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 	6. Nature of Indirect Beneficial Ownership (Instr. 5) 	
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares				
Explanation of Responses:	
Remarks:	
President and Chief Executive Officer	
No securities are beneficially owned.	
	/s/ Kenny Gunderman	03/26/2015	
	** 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 5 (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.	
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.	
                                POWER OF ATTORNEY
                         For Executing Forms 3, 4, and 5

        KNOW ALL MEN BY THESE PRESENTS, that the undersigned hereby constitutes
and appoints Daniel Heard or Blake Schuhmacher as his true and lawful
attorney-in-fact to:

        (1)   execute, for and on behalf of the undersigned as a director or
              officer of Communications Sales & Leasing, Inc. and any successor
              corporation, any one or more Forms 3, 4, and 5 in accordance with
              Section 16(a) of the Securities and Exchange Act of 1934, as
              amended, and the rules thereunder;

        (2)   do and perform any and all acts, for and on behalf of the
              undersigned, that may be necessary or desirable to complete the
              execution of any such Form 3, 4, and 5 and the timely filing of
              such form with the United States Securities and Exchange
              Commission and any other authority; and

        (3)   take any other action of any type whatsoever in connection with
              the foregoing that, in the opinion of such attorney-in-fact, may
              be of benefit to, in the best interest of, or legally required by,
              the undersigned, it being understood that the documents executed
              by such attorney-in-fact on behalf of the undersigned, pursuant to
              this Power of Attorney shall be in such form and shall contain
              such terms and conditions as such attorney-in-fact may approve in
              his discretion.

        The undersigned hereby grants to the foregoing attorney-in-fact full
power and authority to do and perform all and every act and thing whatsoever
requisite, necessary, and proper to be done in the exercise of any of the rights
and powers herein granted, as fully to all intents, and purposes as such
attorney-in-fact might or could do if personally present, with full power of
substitution or revocation, hereby ratifying and confirming all that such
attorney-in-fact, or his substitute or substitutes, shall lawfully do or cause
to be done by virtue of this Power of Attorney and the rights and powers herein
granted. The undersigned acknowledges that the foregoing attorney-in-fact, in
serving in such capacity at the request of the undersigned, is not assuming any
of the undersigned's responsibilities to comply with Section 16 of the
Securities Exchange Act of 1934, as amended, or other applicable securities laws
or rules.

        IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to
be executed this as of the 18 day of March, 2015.

                                        /s/ Kenneth A. Gunderman
                                        ---------------------------------------
                                        Kenneth A. Gunderman