Company: MTZ
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001140361-25-013277
Chunk: 23

Company: MASTEC INC
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 23
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 below under the caption “ Role of Peer Companies and Benchmarking”). Based upon the results of the competitive review, effective July 1, 2024 the annual retainer was increased from $290,000 to $300,000, and is paid on a quarterly basis. The lead Director retainer increased from $30,000 to $40,000 and the Audit Committee Chair retainer increased from $20,000 to $30,000. No other changes were made to the Committee Chair annual retainers. A minimum of 55% of the compensation must be taken in the form of common stock to be issued under the MasTec, Inc. Amended and Restated 2013 Incentive Compensation Plan, which we refer to as the 2013 ICP, but directors may elect to take a greater portion of the quarterly fee in common stock and committee chairpersons may elect to take all or a portion of their annual retainers in the form of common stock. Shares will be valued at the last sale price of the common stock on the NYSE at the close of trading on the applicable quarterly payment date. Directors must make an initial election during an open trading window under MasTec’s insider trading policy and can change such election during an open trading window. The remainder of the retainer, if any, will be paid in the form of cash. Since January 1, 2020, our independent director compensation policy provides that independent directors must own, at the end of each calendar quarter, a minimum of $500,000 in Company common stock valued based on the average closing price of the Company’s common stock on the NYSE during the 30 trading days preceding such quarter-end. Independent directors have five years to meet the requirement and new independent directors have a five-year exception period to meet such requirement. No independent director serving more than five years as of 2024 owned less than $1,447,577 in Company common stock as of December 31, 2024. See the “ Stock Ownership and Retention Guidelines” section on page 48for more information on our stock ownership and retention guidelines. Independent Director Compensation is summarized in the following table:

| Compensation Component                             |     | Director Compensation (prior to July 1, 2024) |     | Director Compensation (effective July 1, 2024) |
|:---------------------------------------------------|:----|----------------------------------------------:|:----|-----------------------------------------------:|
| Annual Board Retainer                              |     |                                      $290,000 |     |