Company: MTZ
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001140361-25-013277
Chunk: 40

Company: MASTEC INC
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 40
---
 the CEO’s pay recommendations, each such NEO’s role, each such NEO’s performance, internal pay comparisons, relevant market data, and the Company’s performance. Separately, based on its independent evaluation of the CEO’s performance, the Compensation Committee recommends our CEO’s compensation to the independent members of the Board for their consideration and final approval. The Compensation Committee also administers our incentive compensation plans, including the 2013 ICP.

| 41 |

TABLE OF CONTENTS

ROLE OF COMPENSATION CONSULTANT The Compensation Committee retained Meridian as its independent compensation consultant. The Compensation Committee from time to time uses the services of Meridian to assist in benchmarking executive and director compensation. Other services provided by Meridian to the Compensation Committee included review of the compensation peer group, legislative and governance updates and assistance with proxy statement disclosure. Meridian did not assist MasTec in adjusting compensation levels and did not attend any meetings of the Compensation Committee. Other than as described above and below, Meridian provided no other services to the Compensation Committee and provided no services to management during fiscal 2024. The Compensation Committee, considering all relevant factors, including those set forth in applicable SEC and NYSE rules, is not aware of any conflict of interest that has been raised by the work performed by Meridian. ROLE OF PEER COMPANIES AND BENCHMARKING The Compensation Committee was assisted by Meridian to construct a peer group appropriate for market comparisons of compensation for our NEOs and outside directors. Following a review in the fall of 2024, the Compensation Committee determined that the peer group should remain unchanged from the prior year, which peer group was constructed in 2022. Meridian provided the Compensation Committee with a competitive analysis of compensation for our NEOs relative to the peer group (the “Competitive Analysis”). Data from the peer group was used in the fall of 2024 to inform 2024 pay decisions. Based on revenues for the fiscal year ended 2024, MasTec was near the median of the peer group.

| Peer Group                                                         |
| Jacobs Solutions Inc.                                              |
| AECOM                                                              |
| Quanta Services, Inc                                               |
| EMCOR Group, Inc.                                                  |
| KBR, Inc.                                                          |
| Tutor Perini Corporation                                           |
| Primoris Services Corporation                                      |
| Tetra Tech, Inc                                                    |
| Dycom Industries, Inc.                                             |
| Leidos Holdings, Inc                                               |
| Textron Inc                                                        |
| Fluor Corporation                                                  |
| WSP Global Inc.