Company: MTZ
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001140361-25-013277
Chunk: 38

Company: MASTEC INC
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 38
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. To that end, our NEOs, as well as other executives, are expected to contribute to MasTec’s overall success rather than focus solely on specific objectives within each executive’s area of responsibility. Given this team-based approach, MasTec considers relative compensation levels among all executive team members to ensure that our compensation programs are applied consistently and equitably. The following charts summarize our CEO’s and other NEOs’ compensation mix among base salary, short term incentive pay (cash bonuses), and long-term incentive pay (three-year cliff vesting restricted stock) based on 2024 performance:

2024 BUSINESS HIGHLIGHTS In setting our executives’ compensation, we considered MasTec’s financial performance, including the following accomplishments: Our outstanding financial performance included:

| ○ | Record revenue of $12.3 billion; |

| ○ | Diluted EPS was $2.06 as compared to a loss of $0.64 for 2023; |

| ○ | Record cash flow from operations was up 63% year over year to $1.1 billion; |

| ○ | Net income was $199.4 million with adjusted EBITDA1up 19% year over year to $1.0 billion; and |

| ○ | Backlog was a record $14.3 billion, up almost $2.0 billion year over year. |

| ○ | Year End Stock Price. The market price of our common stock was $136.14 per share on December 31, 2024, a three-year cumulative TSR of 47.5%.2On March 14, 2025, the market price of our common stock was $120.49. |

Our balance sheet was also strengthened significantly as a result of improved operational performance combined with prudent cash management:

| ○ | DSO was 60, compared with 74 last year; |

| ○ | Liquidity also improved to $2.2 billion, up approximately $601 million from a year ago. |

1 For a reconciliation of net income to adjusted EBITDA please see the Non-GAAP Reconciliations. 2 TSR is the change in stock price over a specific time period.

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BEST PRACTICES IN OUR PROGRAM We maintain compensation programs and policies that serve the interests of shareholders and are consistent with best practices.

| Best Practices                                                                                                                                                                                                                                                            |     | Practices we do not engage in                                                       |
| •Annual performance-based incentives paid in restricted stock and