Company: MTZ
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001140361-25-013277
Chunk: 34

Company: MASTEC INC
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 34
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 were provided, (ii) such services were not recognized at the time of the engagement to be non-audit services, and (iii) such services are promptly brought to the attention of and approved by the Audit Committee or by one or more of its members to whom authority to grant such approvals has been delegated by the Audit Committee. The Audit Committee has considered and determined that the provision of the non-audit services described above is compatible with maintaining the auditor’s independence. During 2023 and 2024, audit services, audit related services and all other services provided by BDO USA, P.C. and PricewaterhouseCoopers LLP were pre-approved by the Audit Committee.

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TABLE OF CONTENTS

| Compensation Discussion and Analysis |

A MESSAGE FROM OUR COMPENSATION COMMITTEE Since 2007, the first year that both Mr. Mas, our CEO, and Mr. Apple, our COO, assumed their roles, they have guided us from $940 million in revenue in 2006 to $12.3 billion for 2024. They have been instrumental in formulating and implementing our remarkable growth strategy. Most recently, the unprecedented changes of the past few years have provided unique challenges for our entire executive team to integrate a large number of acquisitions with our existing portfolio and to prudently make capital expenditures to add equipment and materials during a period affected by supply constraints and inflation. They have positioned us as one of the few providers viewed throughout our industry as a partner whose size and scale affords us the capabilities to take on our customers’ projects, which have significantly increased in size and scope. In addition, Mr. DiMarco, in his second year as our CFO, led initiatives that were instrumental to the achievement of our excellent cash flow and a strong balance sheet, while continuing the reduction in our acquisition-related indebtedness. This has allowed us to achieve and maintain investment grade credit ratings from multiple rating agencies. With the support of our Board, the executive team led MasTec’s strategic investment program to execute a significant end-market transformation over the last four years to support the nation’s energy transition to sustainable renewable energy sources. By expanding our Communications, Clean Energy and Infrastructure and Power Delivery segments, MasTec has placed itself in the position to meet expected high customer demand growth for renewable power generation, electric power transmission and distribution and civil infrastructure over the next decade, as well as, to capitalize on the continued expected growth in telecommunications infrastructure and new green pipeline services. In late 2020, a year in which we