Company: MTZ
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001140361-25-013277
Chunk: 46

Company: MASTEC INC
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 46
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 are determined annually; however, no matching contributions have been made in the three years ending December 31, 2024. Company matching contributions, if any, vest at a rate of one-third per year of service. In addition, we may make additional discretionary contributions on behalf of plan participants; however, no such contributions have been made in the three years ending December 31, 2024. Participants may obtain distributions from the plan only upon termination of employment or for elected in-service distributions, at which time the distribution will be fully taxable to the employee. CLAWBACK POLICY In October 2023 MasTec revised our clawback policy to comply with the revised rules of the NYSE (the “Policy”). The Policy applies to any incentive compensation received by an executive officer of the Company. In the event that the Company is required to prepare an accounting restatement due to the material noncompliance of the Company with any financial reporting requirement under applicable securities laws, the Company will recover any excess incentive compensation received by current or former executive officers who served as such during the three completed fiscal years preceding the date of the restatement, subject to limited permitted exceptions. Recovery under the Policy applies regardless of any misconduct, fault, or illegal activity of the Company, the executive officer, the Board or any committee thereof. The Policy is administered by the Compensation Committee of the Board of Directors of the Company and the Compensation Committee is authorized to make all determinations necessary, appropriate or advisable for the administration of the Policy, to engage, at the Company’s expense, such counsel, advisors and agents and to direct the Company’s officers and other employees to take any actions necessary and appropriate to effectuate the Policy. RISK CONSIDERATIONS IN OUR COMPENSATION PROGRAMS MasTec has reviewed its compensation structures and policies as they pertain to risk and has determined that its compensation programs do not create or encourage the taking of risks that are reasonably likely to have a material adverse effect on MasTec. Use of adjusted EBITDA targets for senior executive bonuses ensures that compensation is based upon the overall performance of MasTec. Moreover, our equity grants typically provide for a three-year cliff vesting period, which we believe encourages our executive officers to manage the long-term success of MasTec as a key objective. Compensation for other personnel is closely monitored by our senior executive officers considering this long-term perspective.

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TABLE OF CONTENTS

STOCK OWNERSHIP AND RETENTION GUIDELINES All current executive officers are required to own shares of