Company: MTZ
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001140361-25-013277
Chunk: 68

Company: MASTEC INC
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 68
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 second amendment to the Jorge Mas VFS Contract (as so further amended, the “Amended Jorge Mas VFS Contract”) to amend the Floor Price (as defined below) and the Cap Price (as defined below) for each JM Tranche 1 Component (as defined below), which were determined based on the volume weighted average price (“VWAP”) of Company common stock for a specified period ended on September 9, 2024, and to appropriately adjust the number of shares to be delivered on the respective valuation date for each JM Tranche 1 Component, with such adjustment resulting in a reduction in the number of Jorge Mas 2022 Pledged Shares to 1,176,933 shares (the “ Jorge Mas Pledged Shares”). The Amended Jorge Mas VFS Contract provides for the settlement of the transaction, at the option of JM Holdings I, in cash or in shares of Company common stock. The Jorge Mas Pledged Shares are divided into two tranches (the first, “JM Tranche 1” and the second, “JM Tranche 2”) of 15 components each (“JM Tranche 1 Components” or “JM Tranche 2 Components”). The number of shares of Company common stock (or cash equivalent) to be delivered to the buyer on the valuation date of each JM Tranche 1 Component or JM Tranche 2 Component is to be determined as follows: (a) if the VWAP of Company common stock on the designated valuation date for the applicable JM Tranche 1 Component or JM Tranche 2 Component (each, a “Valuation Price”) is less than or equal to $97.3535 (the “Tranche 1 Floor Price”) or $78.5147 (the “Tranche 2 Floor Price,” and each of the Tranche 1 Floor Price and Tranche 2 Floor Price, a “Floor Price”), respectively, JM Holdings I will deliver to the buyer all of the Jorge Mas Pledged Shares (or cash equivalent) for the applicable JM Tranche 1 Component or JM Tranche 2 Component; (b) if such Valuation Price for the JM Tranche 1 Component or JM Tranche 2 Component is greater than the Tranche 1 Floor Price or Tranche 2 Floor Price, respectively, but less than or equal to $127.6413 (the “Tranche 1 Cap Price”) or $136.9646 (the “Tranche 2 Cap Price,” and each of the Tr