Company: MTZ
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001140361-25-013277
Chunk: 6

Company: MASTEC INC
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 6
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 projects, with year-end backlog at $4.2 billion, 35% growth year over year; and |

| • | Our Communications segment effectively transitioned to an expanded territory and scope with its largest customer and drove down DSO to levels well below peers. |

1 Adjusted EBITDA is generally calculated by taking MasTec’s consolidated net income, determined in accordance with generally accepted accounting principles, and adding back interest, depreciation, amortization and income taxes and adjusting for certain other items of income or expense, all as more detailed in the reconciliation of net income to adjusted EBITDA set forth in the Non-GAAP Reconciliations. 2 TSR is the change in stock price over a specific time period. 3 Liquidity is availability under the Company's credit facility plus cash.

| 9 |

TABLE OF CONTENTS

COMPENSATION HIGHLIGHTS

| • | Compensation Philosophy |

| ○ | MasTec’s objectives for its executive compensation program are to attract, motivate and retain a talented, entrepreneurial and innovative team of executive officers who will provide leadership for MasTec’s success in dynamic and highly competitive markets |

| ○ | We accomplish these objectives by providing our NEOs the following primary elements of compensation: base salary and annual performance-based incentives paid partially in restricted stock (as discussed in the “Compensation Discussion and Analysis” section on page37) |

| • | Best Practices in our Compensation Programs: |

| ○ | Three-year vesting period for equity awards |

| ○ | Caps on annual bonuses |

| ○ | Modest perquisites |

| ○ | Use of independent compensation consultant to benchmark and analyze compensation metrics |

| ○ | Stock ownership guidelines for our CEO, other NEOs and independent directors |

| ○ | Anti-hedging and anti-pledging policies. The Board of Directors has, however, granted exceptions to these policies for our Chairman and CEO with certain financing arrangements (for additional details, refer to Footnotes 3 and 4 of the “Security Ownership” section beginning on page65) |

| ○ | An enhanced clawback policy for incentive compensation compliant with SEC and NYSE requirements |

| ○ | The Compensation Committee is composed solely of persons who qualify as independent directors under the listing standards of the NYSE |

| • | Practices We Do Not Engage In |

| ○ | No re-pricing of stock options without shareholder approval (no options issued since 2006) |

| ○ | No excise tax gross