Company: MTZ
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001140361-25-013277
Chunk: 70

Company: MASTEC INC
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 70
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 JRM Holdings I and JRM Holdings each possess sole voting and dispositive power with respect to 1,280,688 shares, the JM Trust possesses shared voting and dispositive power with respect to 848,941 shares, the JR Trust possesses shared voting and dispositive power with respect to 425,000 shares, Mas Partners III possesses shared voting and dispositive power with respect to 276,000 shares, the Family Foundation possesses shared voting and dispositive power with respect to 100,000 shares and Jose R. Mas possesses sole voting and dispositive power with respect to 4,498,914 shares and shared voting and dispositive power with respect to 1,649,941 shares. |

As previously reported, Jose R. Mas entered into prepaid variable forward sale contract (as amended on November 28, 2022, the “Jose R. Mas VFS Contract”) with an unaffiliated third-party buyer. Jose R. Mas pledged an aggregate of 387,500 shares (the “Jose R. Mas 2022 Pledged Shares”) of Company common stock to secure his obligations under the Jose R. Mas VFS Contract and retained ownership and voting rights in the Jose R. Mas 2022 Pledged Shares during the term of the pledge. On August 16, 2024, Jose R. Mas and the buyer entered into a second amendment to the Jose R. Mas VFS Contract (as so further amended, the “Amended Jose R. Mas VFS Contract”) to amend the Floor Price and the Cap Price for each JRM Tranche 1 Component (as defined below), which were determined based on the VWAP of the Company’s common stock for a specified

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period ended on September 9, 2024, and to appropriately adjust the number of shares to be delivered on the respective valuation date for each JRM Tranche 1 Component, with such adjustment resulting in a reduction in the number of Jose R. Mas 2022 Pledged Shares to 364,850 shares (the “Jose R. Mas Pledged Shares”). The Amended Jose R. Mas VFS Contract provides for the settlement of the transaction, at the option of Jose R. Mas, in cash or in shares of Company common stock. The Jose R. Mas Pledged Shares are divided into two tranches (the first. “JRM Tranche 1” and the second, “JRM Tranche 2”) of 15 components each (“