Item 1.01 Entry into a Material Definitive Agreement.
On March 5, 2026, Mastech Digital, Inc. (the "Company") entered into a Lease Agreement (the "Lease") with EPC-CW15, LLC (the "Landlord") for office space located at 3300 Olympus Boulevard, Suite 560, Dallas, Texas 75019 (the "Property).
The initial term of the Lease will commence on August 24, 2026 (or later as specified in the Lease) and have an initial term of five (5) years, which begins after a five (5) month abatement period, unless earlier terminated in accordance with the Lease. The Company will have the right to renew the term of the Lease for one additional five-year period.
Under the Lease, the Company will lease approximately 5,895 square feet at the Property. The Company will pay monthly base rent over the life of the Lease in accordance with the following table:
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Lease Month |
Monthly Basic Rent |
Abatement Period |
Abated |
1 - 12 |
$18,176.25 |
13 - 24 |
$18,677.33 |
25 - 36 |
$19,193.14 |
37 - 48 |
$19,718.78 |
49 - 60 |
$20,259.15 |
In addition, the Company will pay its pro rata portion of property expenses and operating and maintenance expenses for the Property. The monthly basic rent is subject to increase during the renewal term in accordance with the Lease.
The foregoing description of the terms of the Lease does not purport to be complete and is qualified in its entirety by reference to the full text of the Lease, attached as Exhibit 10.1 hereto, and which is hereby incorporated herein by reference.
The representations, warranties and covenants contained in the Lease were made only for purposes of such agreement and as of specific dates, were solely for the benefit of the parties to the Lease, and may be subject to limitations agreed upon by the contracting parties. Accordingly, the Lease is incorporated herein by reference only to provide investors with information regarding the terms of the Lease, and not to provide investors with any other factual information regarding the Company or its business, and should be read in conjunction with the disclosures in the Company’s periodic reports and other filings with the Securities and Exchange Commission.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information included in Item 1.01 of this Current Report on Form is incorporated into this Item 2.03 of this Current Report on Form by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
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Exhibit No. |
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Description |
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10.1 |
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Lease Agreement with EPC-CW15, LLC, dated March 5, 2026. |