The 29-year-old was dismissed by referee James Oldham after the final whistle, along with Port Vale's David Worrall, for an alleged act of violent conduct.
United manager Paul Hurst confirmed in his post-match press conference that an appeal would be lodged with the FA and, while the appeal to rescind the dismissal was denied, a further appeal to reduce the sanction in place was accepted.
Lund would originally have been unavailable for the club’s next four fixtures. However, the Regulatory Commission reduced this to three games.
Speaking following the decision, Hurst said: "I'm disappointed because having seen the referee's comments, some of them clearly didn't happen.
"I've watched it back on the video and I'm not sure what else Lundy can really do. He certainly wasn't the instigator of the incident. He's been a big player for us and when he's been available, he's probably played every game, so he will be a miss in what will be a busy time for us."
