Company: MTZ
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001140361-25-013277
Chunk: 41

Company: MASTEC INC
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 41
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| AtkinsRéalis Group Inc. (formerly known as SNC-Lavalin Group Inc.) |

The Compensation Committee reviewed information in the Competitive Analysis regarding peer median executive compensation with respect to the mix and amount of each pay component (base salary, cash bonus and long-term incentives). Separately, the Compensation Committee evaluated our financial performance relative to the peer group and considered that information, among other things, when it determined total compensation levels. The Compensation Committee did not, however, set compensation components (or total target compensation) to meet specific market benchmark percentiles to avoid compensation unrelated to the value delivered by the NEOs or the performance of MasTec. At MasTec, annual incentive compensation awards are heavily based on prior year corporate and individual performance.

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TABLE OF CONTENTS SAY ON PAY AND SHAREHOLDER OUTREACH At our 2024 annual meeting, our Say-On-Pay proposal received the support of approximately 82% of the shareholders casting their votes. We engage with key shareholders to discuss and obtain feedback on our corporate governance, executive compensation and sustainability-related matters, as well as other issues important to our shareholders. Our stock ownership guidelines for our NEOs and our clawback policy, which we had in place prior to our new policy mandated by SEC and NYSE rules that took effect in 2024, also resulted from past shareholder outreach efforts. The Compensation Committee considered the results of the most recent Say on Pay vote as evidence of shareholder satisfaction with the Company’s executive compensation program and policies and therefore, made no changes to the program as a result of the vote. COMPONENTS OF OUR EXECUTIVE COMPENSATION FOR 2024 The primary components of compensation paid to our NEOs are base salary and performance-based annual bonuses paid partially in cash and partially in time-based restricted stock. Each element is described in more detail below.

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TABLE OF CONTENTS

Decisions with respect to one element of compensation tend not to affect decisions regarding other elements.

| Component  
 Fixed pay  
 At Risk    
 Pay        |     | Objective                                                                                                                                                                                                                                                                                                                                                                                                                   
 Our objective for base salary is to provide our NEOs a minimum, fixed level of cash compensation commensurate with their positions and qualifications. Base salary is designed to reward core competence in each NEO’s role. We choose to pay base salary for talent attraction and retention. Salaries are set based on the performance of the NEO; market data adjusted for individual qualifications and job uniqueness. 
 An objective of our 2013 ICP is to reward NEOs for