Company: MTZ
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001140361-25-013277
Chunk: 44

Company: MASTEC INC
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 44
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’s annual incentive award included the following:

| • | Operating performance; |

| • | Fiscal 2024 revenue, income from operations, adjusted EBITDA, cash flow from operating activities, reduction in DSO, liquidity and net debt reduction; |

| • | Fiscal 2024 safety outcomes (NEO efforts led to a continued reduction in frequency of incidents compared to previous years); |

| • | Fiscal 2024 management of our financial position as reflected by our cash flow from operating activities, overall debt level and improved book leverage; and |

| • | Three-year revenue, EPS results and ROIC. |

The Compensation Committee also reviewed tally sheets totaling 2023 compensation for each of the NEOs to assist in determining 2024 incentive compensation payouts. These tally sheets identify and value each element of each NEO’s compensation, including base salary, cash and equity incentive awards and perquisites, and provide an aggregate sum for each NEO, as well as peer group public data (prepared by Meridian) for similar executive positions. Based on the foregoing considerations, the Compensation Committee approved awards of restricted stock and cash under the 2013 ICP, as set forth in the table below.

| Executive                                               |     |   Cash ($) |     |        Shares of 
 Restricted Stock |     | Restricted Stock 
       Value ($)* |     |  Total ($) |
| Jose R. Mas, CEO                                        |     | $2,000,000 |     |           61,713 |     |       $7,500,000 |     | $9,500,000 |
| Robert Apple, COO                                       |     | $1,120,000 |     |           27,154 |     |       $3,300,000 |     | $4,420,000 |
| Paul DiMarco, EVP and CFO                               |     |   $900,000 |     |           20,571 |     |       $2,500,000 |     | $3,400,000 |
| Alberto de Cardenas, EVP, General Counsel and Secretary |     |   $600,000 |     |           14,400 |     |       $1,750,000 |     | $2,350,000 |

| * | The approximate values of the shares of restricted stock were calculated based on the closing price of MasTec’s Common Stock as reported on the NYSE on March 18, 2025 ($121.53) in accordance with the definition of “Fair Market Value