Company: MTZ
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000015615-25-000052
Chunk: 167

Company: MASTEC INC
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 4
Chunk 167
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75.48 Granted360,917 119.09 Vested(167,799)87.37 Canceled/forfeited(26,298)111.87 Non-vested restricted shares, as of March 31, 20251,297,840 $85.33 (a)    Includes 1,000 restricted stock units as of both March 31, 2025 and December 31, 2024.

Note 9 – Equity

Share RepurchasesThe Company’s share repurchase program provides for the repurchase, from time to time, of MasTec common shares in open market transactions or in privately negotiated transactions in accordance with applicable securities laws.  The Company’s share repurchase program does not have an expiration date and may be modified or suspended at any time at the Company’s discretion.  For the three month period ended March 31, 2025, the Company repurchased 0.3 million shares of its common stock for an aggregate purchase price totaling $37.1 million, of which $10.2 million was settled in April 2025, under the Company’s March 2020 share repurchase program.  There were no share repurchases under the Company’s share repurchase program for the three month period ended March 31, 2024.  As of March 31, 2025, $40.3 million was available for future share repurchases under the Company’s March 2020 share repurchase program.  Subsequent to March 31, 2025, the Company repurchased an additional 0.4 million shares of its common stock for an aggregate purchase price totaling $40.3 million, which completed the Company’s March 2020 share repurchase program.  In addition, on May 1, 2025, the Company’s Board of Directors authorized a new $250 million share repurchase program (the “2025 Share Repurchases Program”), which has no expiration date.Accumulated Other Comprehensive LossUnrealized foreign currency translation activity, net, for both the three month periods ended March 31, 2025 and 2024 relates primarily to the Company’s activities in Canada and Mexico.  Other unrealized activity within accumulated comprehensive loss for both the three month periods ended March 31, 2025 and 2024 relates to unrealized investment gains or losses associated with interest rate swaps for the Waha JVs.

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Note 10 – Income Taxes

In determining the quarterly provision