MasTec insider Jorge Mas updates 14.8% ownership

MasTec, Inc. insider Jorge Mas and affiliated entities report updated beneficial ownership of 11,872,111 MasTec common shares, representing 14.8% of the outstanding stock based on 80,304,948 shares outstanding as of July 27, 2026.

Rhea-AI Filing Summary

MasTec, Inc. insider Jorge Mas and affiliated entities report updated beneficial ownership of 11,872,111 MasTec common shares, representing 14.8% of the outstanding stock based on 80,304,948 shares outstanding as of July 27, 2026. The filing describes that 5,665,484 shares are held by Jorge Mas Holdings I, LLC (JM Holdings I), with additional shares held through family trusts, investment entities, a family foundation, and 4,556,686 shares held directly by Jorge Mas.

The amendment’s main purpose is to report JM Holdings I’s entry on August 10, 2026 into a Fourth Amendment to a previously disclosed prepaid variable forward sale contract with an unaffiliated party. JM Holdings I has pledged 1,099,335 shares as collateral under this Prepaid Forward Contract, which may settle in cash or shares on Valuation Dates in 2027 and 2028 across two tranches of 15 components each. The Fourth Amendment resets the Floor Prices and Cap Prices for each Tranche 1 component based on the volume weighted average price of MasTec stock over a specified period ended August 11, 2026, while JM Holdings I currently retains voting rights and beneficial ownership of the pledged shares.

Filing Explained

Under the amended contract, if the valuation price is at or below a tranche’s floor, JM Holdings I must deliver all of the applicable pledged shares, while prices between the floor and cap use one formula, prices above the cap use another, and equivalent cash may be delivered on valuation dates in August or September 2027 or 2028.

Key Figures

Beneficial ownership: 11,872,111 shares Ownership percentage: 14.8% Shares outstanding: 80,304,948 shares +5 more

8 metrics

Beneficial ownership 11,872,111 shares MasTec common shares beneficially owned by Jorge Mas

Ownership percentage 14.8% Percent of MasTec common stock beneficially owned by Jorge Mas

Shares outstanding 80,304,948 shares MasTec common stock outstanding as of July 27, 2026

Shares held by JM Holdings I 5,665,484 shares MasTec shares owned by Jorge Mas Holdings I, LLC (7.1% of class)

Pledged Shares under Prepaid Forward 1,099,335 shares MasTec shares pledged by JM Holdings I as collateral

Tranche 1 Floor Price $246.5096 Floor Price for Tranche 1 components in the Prepaid Forward Contract

Tranche 1 Cap Price $350.5914 Cap Price for Tranche 1 components in the Prepaid Forward Contract

Tranche 2 Floor and Cap Prices $157.3441 / $243.0093 Floor and Cap Prices for Tranche 2 components

Key Terms

Prepaid Forward Contract, Variable Share Forward Transaction, Floor Price, Cap Price, +2 more

6 terms

Prepaid Forward Contract financial

"JM Holdings I entered into the 2019 Prepaid Forward Contract to provide funds"

Variable Share Forward Transaction financial

"Exhibit 99.1 Variable Share Forward Transaction Amendment No. 4 Agreement"

Floor Price financial

"The Fourth Amendment amends the Floor Price and Cap Price for each Tranche 1 Component"

The floor price is the minimum price at which a security, asset, or offering will be sold or accepted, acting like a seller’s “bottom line” or a reserve in an auction. For investors it matters because it sets a visible downside limit and can influence trading, valuation, and expectations of risk—like knowing there’s a safety net that a sale won’t go below a set level.

Cap Price financial

"The Fourth Amendment amends the Floor Price and Cap Price for each Tranche 1 Component"

volume weighted average price financial

"based on the volume weighted average price of MasTec, Inc.'s common stock"

The volume weighted average price (VWAP) is a way to measure the average price of a security, such as a stock, over a specific period, taking into account how many units were traded at each price. It’s similar to calculating the average cost of items bought when some are more frequently purchased than others. Investors use VWAP to assess whether a security is being bought or sold at a fair price during trading.

beneficial ownership financial

"The percentage of beneficial ownership is based upon 80,304,948 Shares"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What percentage of MasTec (MTZ) does Jorge Mas currently beneficially own?

Jorge Mas reports beneficial ownership of 11,872,111 MasTec common shares, representing 14.8% of the company’s outstanding stock. This figure includes shares held directly and through various entities, trusts, and a family foundation associated with him.

How many MasTec (MTZ) shares are pledged under the Prepaid Forward Contract?

JM Holdings I has pledged 1,099,335 MasTec shares as collateral under the Prepaid Forward Contract. These shares secure its delivery obligations and may be delivered in stock or used to determine an equivalent cash payment on future Valuation Dates.

What is the purpose of the new amendment reported for MasTec (MTZ)?

The filing reports a Fourth Amendment to a 2019 Prepaid Forward Contract entered into by JM Holdings I. This amendment changes the Floor Price and Cap Price for Tranche 1 components, based on MasTec’s volume weighted average price over a recent period.

Over what period will the MasTec (MTZ) Prepaid Forward Contract settle?

The Prepaid Forward Contract is structured to settle on multiple Valuation Dates in August or September 2027 or 2028, across two tranches of 15 components each. On each date, JM Holdings I may settle in shares or an equivalent amount of cash.

How many MasTec (MTZ) shares does JM Holdings I itself own?

JM Holdings I is reported to own 5,665,484 MasTec common shares, representing 7.1% of the outstanding stock. Of this total, 1,099,335 shares are pledged as collateral under the Prepaid Forward Contract while JM Holdings I retains current voting rights.

What are the key Floor and Cap Prices in the MasTec (MTZ) forward contract?

For Tranche 1, the Floor Price is $246.5096 and the Cap Price is $350.5914. For Tranche 2, the Floor Price is $157.3441 and the Cap Price is $243.0093, guiding how many pledged shares or how much cash JM Holdings I must deliver.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/13/2026 - 04:15 PM Accepted by SEC EDGAR 08/13/2026 - 04:15 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 10)

MasTec, Inc.

(Name of Issuer)

Common Stock, Par Value $.10 Per Share

(Title of Class of Securities)

576323109

(CUSIP Number)

Paul DiMarco
800 S. Douglas Road, 12th Floor
Coral Gables, FL, 33134
305-599-1800

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

08/11/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 576323109

1

Name of reporting person

Jorge Mas

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 10,222,170.00
8	Shared Voting Power 1,649,941.00
9	Sole Dispositive Power 10,222,170.00
10	Shared Dispositive Power 1,649,941.00

11

Aggregate amount beneficially owned by each reporting person

11,872,111.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

14.8 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

This Amendment No. 10 to Schedule 13D is filed jointly on behalf of Jorge Mas, Jorge Mas Holdings I, LLC ("JM Holdings I"), Jorge Mas Holdings, LLC ("JM Holdings"), Jorge Mas Irrevocable Family Trust ("JM Trust"), Jose Ramon Mas Irrevocable Family Trust ("JR Trust"), Mas Equity Partners III, LLC ("Mas Partners III"), Mas Equity Partners, LLC ("Mas Partners"), and Mas Family Foundation Inc. ("Family Foundation") (collectively, the "Reporting Person"). This Amendment No. 10 to Schedule 13D amends and updates the statements on Schedule 13D previously filed on November 14, 2004, as amended by nine amendments thereto, the last of which was filed on August 21, 2025, with respect to the Common Stock, $.10 par value (the "Shares" or "Common Stock") of MasTec, Inc., a Florida corporation (the "Issuer"). Explanatory Note This Amendment No. 10 to Schedule 13D filed under Section 13(d) of the Act reflects ownership of Shares by Jorge Mas that is different from such ownership as reported in Jorge Mas's Forms 4 filed under Section 16 of the Act due to the difference in how ownership of securities is reported for purposes of Section 13(d) of the Act (beneficial ownership) as compared to Section 16 of the Act (pecuniary interest), particularly for shares held indirectly through trusts or other entities.

SCHEDULE 13D

CUSIP Number(s): 576323109

1

Name of reporting person

Jorge Mas Holdings I, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

FLORIDA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 5,665,484.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 5,665,484.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

5,665,484.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

7.1 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

See comments above.

SCHEDULE 13D

CUSIP Number(s): 576323109

1

Name of reporting person

Jorge Mas Holdings, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

FLORIDA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 5,665,484.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 5,665,484.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

5,665,484.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

7.1 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

See comments above.

SCHEDULE 13D

CUSIP Number(s): 576323109

1

Name of reporting person

Jorge Mas Irrevocable Family Trust

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

FLORIDA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 848,941.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 848,941.00

11

Aggregate amount beneficially owned by each reporting person

848,941.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

1.1 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

See comments above.

SCHEDULE 13D

CUSIP Number(s): 576323109

1

Name of reporting person

Jose Ramon Mas Irrevocable Family Trust

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

FLORIDA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 425,000.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 425,000.00

11

Aggregate amount beneficially owned by each reporting person

425,000.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.5 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

See comments above.

SCHEDULE 13D

CUSIP Number(s): 576323109

1

Name of reporting person

Mas Equity Partners III, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 276,000.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 276,000.00

11

Aggregate amount beneficially owned by each reporting person

276,000.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.3 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

See comments above.

SCHEDULE 13D

CUSIP Number(s): 576323109

1

Name of reporting person

Mas Equity Partners, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

FLORIDA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 276,000.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 276,000.00

11

Aggregate amount beneficially owned by each reporting person

276,000.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.3 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

See comments above.

SCHEDULE 13D

CUSIP Number(s): 576323109

1

Name of reporting person

Mas Family Foundation Inc.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 100,000.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 100,000.00

11

Aggregate amount beneficially owned by each reporting person

100,000.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.1 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

See comments above.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, Par Value $.10 Per Share
(b)	Name of Issuer: MasTec, Inc.
(c)	Address of Issuer's Principal Executive Offices: 800 S. Douglas Road, 12th Floor, Coral Gables, FLORIDA , 33134.
Item 3.	Source and Amount of Funds or Other Consideration
	Share ownership by each of the persons reporting on this Schedule 13D reflect transfers among certain of the reporting persons as well as grants of equity compensation to Mr. Mas since January 13, 2023, all as previously reported on Forms 4 filed by Mr. Mas.
Item 4.	Purpose of Transaction
	The purpose of this filing to is report the entry by JM Holdings I on August 10, 2026 into an amendment (the "Fourth Amendment") to the previously reported prepaid variable forward sale contract entered into by JM Holdings I with an unaffiliated party (the "2019 Prepaid Forward Contract," and, as amended to date, the "Prepaid Forward Contract"). The Fourth Amendment amends the Floor Price (as defined below) and Cap Price (as defined below) for each Tranche 1 Component (as defined below), which were determined based on the volume weighted average price (the "VWAP") of MasTec, Inc.'s common stock for a specified period ended on August 11, 2026. The Prepaid Forward Contract provides for the settlement of the transaction, at the option of JM Holdings I, in cash or in Shares. At settlement JM Holdings I will be obligated to deliver to the buyer, on the applicable date in August or September 2027 or 2028 for the applicable component (each, a "Valuation Date") in the first ("Tranche 1") or second ("Tranche 2") tranche, as applicable, of 15 components each ("Tranche 1 Components" or "Tranche 2 Components"), at JM Holdings I's option, up to 100% of the number of Shares pledged for such component or an equivalent amount of cash. JM Holdings I entered into the 2019 Prepaid Forward Contract to provide funds for investment in the Miami Major League Soccer franchise. For more information on the terms of the Prepaid Forward Contract, please see Item 6 below.
Item 5.	Interest in Securities of the Issuer
(a)	By Jorge Mas: 11,872,111, 14.8%. The Shares beneficially owned by Jorge Mas include: 5,665,484 Shares owned by JM Holdings I, which is controlled by JM Holdings, of which Jorge Mas is the sole member; 848,941 Shares owned by the JM Trust, one of the trustees of which is Jorge Mas's spouse; 425,000 Shares owned by the JR Trust of which Jorge Mas is a trustee; 276,000 Shares owned by Mas Partners III, in which Mas Partners is a member and of which Jorge Mas is the sole member; 100,000 Shares owned by the Family Foundation, a Florida not-for-profit corporation, of which Jorge Mas is the president and a member of the Board of Directors; and 4,556,686 Shares owned individually by Jorge Mas. Jorge Mas disclaims beneficial ownership of all Shares held by the JR Trust, the JM Trust, Mas Partners III and the Family Foundation, except, in each case, to the extent of his pecuniary interest therein, if any. 1,099,335 Shares of Common Stock owned by JM Holdings I are subject to the Prepaid Forward Contract and are pledged as collateral to secure JM Holdings I's obligations under such Prepaid Forward Contract. By JM Holdings I: 5,665,484, 7.1% By JM Holdings: 5,665,484, 7.1% By JM Trust: 848,941, 1.1% By JR Trust: 425,000, 0.5% By Mas Partners III: 276,000, 0.3% By Mas Partners: 276,000, 0.3% By Family Foundation: 100,000, 0.1% The percentage of beneficial ownership is based upon 80,304,948 Shares of Common Stock outstanding as of July 27, 2026.
(b)	The Reporting Person's responses to cover page Items 7 through 10 of this 13D/A are hereby incorporated by reference in this Item 5.
(c)	The Reporting Person's responses to Items 4(a) and 6(a) of this 13D/A are hereby incorporated by reference in this Item 5.
(e)	N/A
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	1,099,335 Shares owned by JM Holdings I are covered by the Prepaid Forward Contract. The Prepaid Forward Contract obligates JM Holdings I to deliver to the buyer under the Prepaid Forward Contract, on each Valuation Date, at JM Holdings I's option, up to 100% of the number of Shares pledged for the applicable component or an equivalent amount of cash. JM Holdings I pledged an aggregate of 1,099,335 Shares the ("Pledged Shares") to secure its obligations under the Prepaid Forward Contract, and currently retains ownership and voting rights in the Pledged Shares during the term of the pledge. The number of Shares to be potentially delivered to the buyer on each Valuation Date (or on which to base the amount of cash to be delivered to the buyer on such Valuation Date) is to be determined as follows: (a) if the VWAP of Shares on the Valuation Date for the applicable Tranche 1 Component or Tranche 2 Component (each, a "Valuation Price") is less than or equal to $246.5096 (the "Tranche 1 Floor Price") or $157.3441 (the "Tranche 2 Floor Price," and each of the Tranche 1 Floor Price and Tranche 2 Floor Price, a "Floor Price"), respectively, then JM Holdings I will deliver to the buyer all of the Pledged Shares for the applicable component; (b) if such Valuation Price for the Tranche 1 Component or Tranche 2 Component is greater than the Tranche 1 Floor Price or Tranche 2 Floor Price, respectively, but less than or equal to $350.5914 (the "Tranche 1 Cap Price") or $243.0093 (the "Tranche 2 Cap Price," and each of the Tranche 1 Cap Price and Tranche 2 Cap Price, a "Cap Price"), respectively, then JM Holdings I will deliver to the buyer the number of Shares equal to 100% of the Pledged Shares for the applicable component multiplied by the quotient of the applicable Floor Price divided by such Valuation Price and (c) if such Valuation Price for the Tranche 1 Component or Tranche 2 Component exceeds the Tranche 1 Cap or Tranche 2 Cap Price, respectively, then JM Holdings I will deliver to the buyer the number of Shares equal to 100% of Pledged Shares for the applicable component multiplied by the quotient of (x) the applicable Floor Price plus such excess divided by (y) such Valuation Price. Except as set forth above, JM Holdings I retains beneficial ownership of the Pledged Shares and rights related thereto, including voting power with respect thereto.
Item 7.	Material to be Filed as Exhibits.
	Exhibit 99.1 Variable Share Forward Transaction Amendment No. 4 Agreement dated August 10, 2026 by and between Jorge Mas Holdings I, LLC and Bank of America, N.A.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Jorge Mas

Signature:	/s/ Jorge Mas
Name/Title:	Jorge Mas
Date:	08/13/2026

Jorge Mas Holdings I, LLC

Signature:	/s/ Jorge Mas
Name/Title:	Jorge Mas, Manager of Jorge Mas Holdings, LLC, Manager of Jorge Mas Holdings I, LLC
Date:	08/13/2026

Jorge Mas Holdings, LLC

Signature:	/s/ Jorge Mas
Name/Title:	Jorge Mas, Manager
Date:	08/13/2026

Jorge Mas Irrevocable Family Trust

Signature:	/s/ Jose Mas
Name/Title:	Jose Mas, Trustee
Date:	08/13/2026

Jose Ramon Mas Irrevocable Family Trust

Signature:	/s/ Jorge Mas
Name/Title:	Jorge Mas, Trustee
Date:	08/13/2026

Mas Equity Partners III, LLC

Signature:	/s/ Jose Mas
Name/Title:	Jose Mas, Member
Date:	08/13/2026

Mas Equity Partners, LLC

Signature:	/s/ Jorge Mas
Name/Title:	Jorge Mas, Member
Date:	08/13/2026

Mas Family Foundation Inc.

Signature:	/s/ Jorge Mas
Name/Title:	Jorge Mas, President
Date:	08/13/2026