Jorge Mas Amends Prepaid Forward Contract, Extends Settlement to 2028
MTZ sits 71% above its 52-week low of $167.66.
Summary
MasTec chairman Jorge Mas amended his prepaid forward contract, resetting price floors/caps and extending settlement to 2028, with a $10.95M cash prepayment.
Key Events · Ownership and Investor Activity · MTZ
-
Forward Contract Amended
Jorge Mas Holdings I, LLC entered into a Fourth Amendment to its prepaid variable forward sale contract with Bank of America, resetting Tranche 1 floor and cap prices to 90% and 128% of the hedge adjustment share price, respectively.
-
Settlement Extended to 2028
Valuation dates for Tranche 1 components were extended to August-September 2028, while Tranche 2 components remain in 2027.
-
Cash Prepayment Required
A cash prepayment of $10,952,922.85 was delivered to the collateral account, with a potential additional cash payment determined by a pricing grid.
-
Pledged Shares Reduced
The number of shares pledged under the contract is now 1,099,335, down from 1,176,933 after the prior amendment.
Analysis · MTZ · Real Estate & Construction
Jorge Mas, MasTec's chairman, amended his prepaid variable forward sale contract with Bank of America, resetting the floor and cap prices for Tranche 1 components and extending settlement dates to 2028. The amendment requires a $10.95 million cash prepayment and adjusts the number of pledged shares to 1,099,335. This derivative structure allows Mas to monetize a portion of his holdings while retaining voting rights, but the reset terms and extended timeline could influence market perception of his long-term commitment.
How filings like this one have moved
In the 30 days to Oct 1, 2026, 30.2% of the 1645 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.49%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, MTZ was trading at $286.11 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $23B. The 52-week trading range was $167.66 to $441.43. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.