Company: MTZ
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000015615-25-000021
Chunk: 1003

Company: MASTEC INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1A
Chunk 1003
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 securities, including in connection with acquisition or financing transactions.  In addition, the stock market continues to experience significant volatility, which can sometimes be unrelated or 

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disproportionate to operating performance.  Volatility in the market price of our common stock could cause shareholders to lose some or all of their investment in our common stock.

A small number of our existing shareholders have the ability to influence major corporate decisions.

Jorge Mas, our Chairman, and José R. Mas, our Chief Executive Officer, beneficially owned approximately 23% of the outstanding shares of our common stock as of December 31, 2024.  Accordingly, they are in a position to influence the vote of most matters submitted to our shareholders, including any merger, consolidation or sale of all or substantially all of our assets, the nomination of individuals to our Board of Directors, and a change in our control.  These factors could discourage, delay or prevent a takeover attempt that shareholders might consider in their best interests or that might result in shareholders receiving a premium for their common stock.

Our articles of incorporation and certain provisions of Florida law contain anti-takeover provisions that may make it more difficult to effect a change in our control.

Certain provisions of our articles of incorporation, by-laws and the Florida Business Corporation Act could delay or prevent an acquisition or change in control and the replacement of our incumbent directors and management, even if doing so might be beneficial to our shareholders by providing them with the opportunity to sell their shares at a premium over the then market price of our common stock.  For example, our Board of Directors is divided into three classes.  At any annual meeting of our shareholders, our shareholders only have the right to appoint approximately one-third of the directors on our Board of Directors.  Consequently, it would take at least two annual shareholder meetings to effect a change in control of our Board of Directors, which could discourage hostile takeover bids.  In addition, our articles of incorporation authorize our Board of Directors, without further shareholder approval, to issue preferred stock.  The issuance of preferred stock could dilute the voting power of holders of our common stock, including the granting of voting control to others, which could delay or prevent an acquisition or change in control.

ITEM  1B.    UNRESOLVED STAFF COMMENTS 

Not applicable.

ITEM  1C.    CYBERSECURITY

Risk Management and Strategy

Cybersecurity risk management is an important part of MasTec's overall risk management efforts.  We maintain a