MasTec (MTZ) CEO Jose Mas Amends Prepaid Forward on 340,794 Shares

What Happened

• MasTec CEO and Director José Ramón Mas reported derivative transactions related to a prepaid variable forward contract covering 340,794 shares. The Form 4 shows both an "other disposition" and an "other acquisition" (transaction code J) for 340,794 shares on August 11, 2026; amounts and per-share prices are listed as N/A because these are derivative contract adjustments rather than a simple open-market trade.
• The filing reflects a fourth amendment to the forward sale agreement (amended August 10, 2026) that resets Floor and Cap prices based on VWAP for a period ending August 11, 2026. The amended contract allows settlement, at Mr. Mas’s option, in cash or in MasTec common stock.

Key Details

• Transaction date: August 11, 2026 (Amendment executed August 10, 2026; VWAP period ended Aug 11, 2026). Price reported: N/A (derivative amendment).
• Shares involved: 340,794 shares (pledged under the forward sale contract). Reporting person continues to retain ownership and voting rights in these shares.
• Material contract terms (as amended): Tranche structure of pledged shares (two tranches of 15 components each). Tranche 1 Floor = $246.5096; Tranche 1 Cap = $350.5914. Tranche 2 Floor = $157.3441; Tranche 2 Cap = $243.0093. Valuation depends on VWAP on each component’s valuation date.
• Settlement mechanics: Depending on the Valuation Price relative to Floor/Cap, the number of shares deliverable (or cash payable) is determined by formulas in the amendment; the reporting person can elect cash or share settlement.
• Exercise/expiry window: Each component is exercisable on its expiration date, which falls between August 16, 2027 and September 1, 2028.
• Filing timeliness: Form 4 filed August 13, 2026 for a reportable event on August 11, 2026 — appears timely (no late filing flag).

Context

• This is a derivative contract amendment (prepaid variable forward), not a straightforward open-market sale or purchase. Such contracts provide liquidity/price protection while the insider may retain economic exposure and voting control; here Mr. Mas continues to own and vote the pledged shares.
• Transaction code J denotes "other acquisition or disposition" for derivative-related adjustments. Because settlement can be cash or stock depending on future VWAPs and formulae, the ultimate economic effect (number of shares delivered or cash paid) will be determined on each component’s valuation date in 2027–2028.