Company: MTZ
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000015615-25-000021
Chunk: 1880

Company: MASTEC INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 3
Chunk 1880
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 is based on the market price on the date of vesting, totaled approximately $37.2 million, $98.4 million and $19.7 million for the years ended December 31, 2024, 2023 and 2022, respectively.

83

Activity, restricted shares: (a)Restricted SharesPer Share Weighted Average  Grant Date Fair ValueNon-vested restricted shares, as of December 31, 20222,049,280 $52.33 Granted738,935 62.03 Vested(1,134,687)32.89 Canceled/forfeited(147,532)56.26 Non-vested restricted shares, as of December 31, 20231,505,996 $71.35 Granted268,117 90.90 Vested(344,304)88.76 Canceled/forfeited(298,789)53.22 Non-vested restricted shares, as of December 31, 20241,131,020 $75.48 (a)    Includes 1,000 restricted stock units as of both December 31, 2024 and 2023, and 2,150 restricted stock units as of December 31, 2022.Employee Stock Purchase Plans.  For the years ended December 31, 2024, 2023 and 2022, 95,374 shares, 119,450 shares and 112,341 shares, respectively, were purchased by participants under the Company’s ESPPs for $8.2 million, $8.5 million and $7.4 million, respectively, which shares were delivered with shares reacquired by the Company on the open market.  For both the years ended December 31, 2024 and 2023, compensation expense associated with the Company’s ESPPs totaled approximately $1.5 million, and for the year ended December 31, 2022, such compensation expense totaled approximately $1.3 million.401(k) Plan.  MasTec has a 401(k) plan covering all eligible employees, which allows participants to contribute up to 75% of their pre-tax annual compensation to the plan, subject to certain limitations.  Company contributions under the plan are based upon a percentage of the employee’s salary, subject to certain limitations as defined by the plan.  During the years ended December 31, 2024, 2023