A Form 4 filed on August 13, 2026, discloses that Jorge Mas, a director of MasTec Inc. (NYSE:MTZ), entered into a fourth amendment to an existing prepaid variable forward sale contract covering 1,099,335 shares of MasTec common stock, with the transaction dated August 11, 2026.

Key Highlights

  • Reporting person: Jorge Mas, identified as a Director of MasTec Inc.
  • Shares involved: 1,099,335 shares of MasTec common stock pledged under the Amended Agreement.
  • Transaction code: J (coded as "other" acquisition or disposition), dated August 11, 2026.
  • Amended price terms: Tranche 1 Floor Price set at $246.5096, Tranche 1 Cap Price at $350.5914; Tranche 2 Floor Price at $157.3441, Tranche 2 Cap Price at $243.0093.
  • Settlement window: Components are exercisable and expire on dates between August 16, 2027 and September 1, 2028.
  • Voting rights retained: The filing states the reporting person "currently retains beneficial ownership of all shares of MasTec common stock that are subject to the Amended Agreement and rights related thereto, including all voting rights."

Details of the Fourth Amendment to the MasTec Forward Sale Contract

According to the filing, Jorge Mas Holdings I, LLC ("JM Holdings I"), a Florida limited liability company controlled by Jorge Mas Holdings, LLC, of which Jorge Mas is the sole member, is party to a prepaid variable forward sale contract with an unaffiliated third party buyer. JM Holdings I pledged an aggregate of 1,099,335 shares of MasTec common stock to secure obligations under the contract, while retaining ownership and voting rights in those shares during the term of the pledge.

On August 10, 2026, JM Holdings I and the buyer entered into a fourth amendment to the Forward Sale Contract. The filing discloses that the amended Floor Price and Cap Price for each Tranche 1 Component were determined based on the volume weighted average price of MasTec common stock for a specified period ended on August 11, 2026. The Amended Agreement provides for settlement, at JM Holdings I's option, in cash or shares of MasTec common stock. The 1,099,335 pledged shares are divided into two tranches of 15 components each.

The filing describes a tiered settlement formula. If the valuation date VWAP for a given component is at or below the applicable Floor Price, JM Holdings I delivers all pledged shares for that component. If the VWAP falls between the Floor Price and the Cap Price, JM Holdings I delivers a reduced number of shares calculated by multiplying the pledged shares by the Floor Price divided by the Valuation Price. If the VWAP exceeds the Cap Price, a separate formula applies incorporating the excess above the Cap Price. Following the reported transactions, the filing shows beneficial ownership of 0 shares under one entry and 1,099,335 shares (indirect, owned of record by JM Holdings I) under a second entry.

What Was Disclosed

The filing reports a fourth amendment to a prepaid variable forward sale contract held by an entity controlled by MasTec director Jorge Mas, covering 1,099,335 pledged shares of MasTec common stock, with updated price terms and settlement dates between August 2027 and September 2028.