Company: MTZ
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001140361-25-013277
Chunk: 69

Company: MASTEC INC
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 69
---
anche 1 Cap Price and Tranche 2 Cap Price, a “Cap Price”), respectively, JM Holdings I will deliver to the buyer the number of shares equal to 100% of the Jorge Mas Pledged Shares for the applicable JM Tranche 1 Component or JM Tranche 2 Component multiplied by the quotient of the applicable Floor Price divided by such Valuation Price (or cash equivalent) and (c) if such Valuation Price for the JM Tranche 1 Component or JM Tranche 2 Component exceeds the Tranche 1 Cap Price or Tranche 2 Cap Price, respectively, JM Holdings I will deliver to the buyer the number of shares equal to 100% of Jorge Mas Pledged Shares for the applicable component multiplied by the quotient of (x) the applicable Floor Price plus such excess divided by (y) such Valuation Price (or cash equivalent). Each component is exercisable on the same date as it expires, which date for each component, occurs between August 17, 2026, and September 4, 2026. In addition, effective October 19, 2021, Jorge Mas entered into a loan arrangement with a financial institution pursuant to which Mr. Mas pledged 417,700 shares of the Company’s common stock to secure his obligations under such loan. Jorge Mas disclaims beneficial ownership of all shares of common stock held by JM Trust, JR Trust, Mas Partners III and the Family Foundation, except, in each case, to the extent of his pecuniary interest therein.

| (4) | Includes: (i) 3,218,226 shares owned by Jose R. Mas individually; (ii) 1,280,688 shares owned by Jose Ramon Mas Holdings I, LLC, a Florida limited liability company (“JRM Holdings I”), which is controlled by Jose Ramon Mas Holdings, LLC, a Florida limited liability company (“JRM Holdings”), of which Jose R. Mas is the sole member; (iii) 848,941 shares owned by the JM Trust, of which Jose R. Mas is a trustee; (iv) 425,000 shares owned by the JR Trust, of which Patricia Mas, the wife of Jose R. Mas, is a trustee; (v) 276,000 shares owned by Mas Partners III, in which Jose R. Mas is a member; and (vi) 100,000 shares owned by the Family Foundation, of which Jose R. Mas is the secretary and a member of the Board of Directors.