Company: MTZ
Filing Date: 2025-06-26
Form Type: 11-K
Source: 0000015615-25-000062
Chunk: 7

Company: MASTEC INC
Filing Date: 2025-06-26
Form: 11-K
Chunk 7
---
. The following is a description of the valuation methodologies used for assets measured at fair value.

Common stock — Valued at the closing price reported on the active market on which the individual securities are traded.

Money market funds — Valued at the daily closing price as reported by the fund.

Mutual funds — Valued at the daily closing price as reported by the fund. Mutual funds held by the Plan are open-ended mutual funds that are registered with the Securities and Exchange Commission (“SEC”). These funds are required to publish their daily net asset value (“NAV”) and to transact at that price. The mutual funds held by the Plan are deemed to be actively traded.

<div align='center'>8</div>

Stable value funds — Composed primarily of fully benefit-responsive investment contracts and is reported at fair value using NAV as a practical expedient. The stable value fund calculates NAV per share in a manner consistent with the measurement principles in FASB Accounting Standards Codification Topic 946 Financial Services — Investment Companies . Those measurement principles indicate that, in the determination of a stable value fund’s NAV, the relevant measurement is net assets which include the fully benefit investment contracts held by the fund at contract value. This NAV represents the Plan’s fair value since this is the NAV at which the Plan transacts with the fund. This practical expedient is not used when it is determined to be probable that the fund will sell the investment for an amount different than the reported net asset value. Participant transactions (purchases and sales) may occur daily. If the Plan initiates a full redemption of the collective trust, the issuer reserves the right to require 12 months’ notification in order to ensure that securities liquidations will be carried out in an orderly business manner.

The following tables set forth by level within the fair value hierarchy individual investments that represent the Plan’s net assets as of December 31, 2024 and 2023:

| Investments in the fair value hierarchy: (a) |     | December 31, |        2024 |     |   |        2023 |
|:---------------------------------------------|:----|:-------------|------------:|:----|:--|------------:|
| Mutual funds                                 |     | $            | 516,591,992 |     | $ | 446,829,684 |
| MasTec, Inc. common stock                    |     | $            | 154,448,893 |     | $ |  85,049,368 |
| Money market funds                           |