Jorge Mas (NYSE: MTZ) covers taxes with 15,958 shares, retains 4.54M
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
MasTec director Jorge Mas reported a routine tax-withholding transaction. On this Form 4, 15,958 shares of MasTec common stock were disposed of at $297.81 per share, representing shares withheld by the company to pay taxes due upon the vesting of restricted stock.
After this withholding, Mas continues to hold 4,540,848 MasTec shares directly. He is also associated with additional indirect holdings, including shares held by a family trust, Mas Equity Partners III, a family foundation, and Jorge Mas Holdings I, LLC. Several of these indirect positions are reported with explicit disclaimers of beneficial ownership, indicating they are held for family or charitable entities rather than for Mas personally.
Positive
- None.
Negative
- None.
Insider Trade Summary
5 transactions reported
Mixed
5 txns
Insider
MAS JORGE
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 15,958 | $297.81 | $4.75M |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 4,540,848 shares (Direct);
Common Stock — 848,941 shares (Indirect, Indirect)
Footnotes (1)
- Shares disposed of represent shares withheld by the Issuer to pay taxes due upon vesting of restricted stock. Shares held by the Jorge Mas Irrevocable Family Trust dated August 7, 2018, one of the trustees of which is the reporting person's spouse. The reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purpose of Section 16 or for any other purpose. Shares owned by Mas Equity Partners III, LLC, a Delaware limited liability company ("MEP III"), in which Mas Equity Partners, LLC ("MEP") is a member. The sole member of MEP is the reporting person. The reporting person disclaims beneficial ownership of the securities held by MEP III except to the extent of his pecuniary interest therein. Shares owned of record by the Mas Family Foundation, Inc., a Florida not-for-profit corporation (the "Family Foundation"), of which the reporting person is the president. The reporting person disclaims beneficial ownership of all shares owned by the Family Foundation. Shares owned of record by Jorge Mas Holdings I, LLC, a Florida limited liability company, which is controlled by Jorge Mas Holdings, LLC, a Florida limited liability company, of which the reporting person is the sole member.
FAQ
What insider transaction did MasTec (MTZ) director Jorge Mas report?
Jorge Mas reported a tax-withholding disposition of 15,958 MasTec common shares. These shares were withheld by the company to pay taxes triggered when restricted stock vested, rather than being sold in the open market.
What indirect MasTec (MTZ) holdings are associated with Jorge Mas?
Indirect holdings include shares in a family trust, Mas Equity Partners III, a family foundation, and Jorge Mas Holdings I, LLC. The filing notes that Mas disclaims beneficial ownership for certain entities, such as the family trust and foundation.
Was Jorge Mas’s MasTec (MTZ) Form 4 transaction an open-market sale?
No, the Form 4 describes a tax-withholding disposition, not an open-market sale. The issuer withheld 15,958 shares to cover taxes due when restricted stock vested, a common administrative process rather than a discretionary sale.