Quanta Services (NYSE: PWR) adopts 2026 cash and equity incentive plans

Rhea-AI Filing Summary

Quanta Services, Inc. approved its 2026 employee incentive programs, covering corporate staff, senior leadership and all other employees. Under this Incentive Plan, certain employees, including all executive officers, may receive cash, restricted stock units and performance stock units issued under the existing 2019 Omnibus Equity Incentive Plan.

The plans tie annual bonuses mainly to 2026 EBITDA, EBITDA margin and safety performance, while long-term incentive awards for the 2026–2028 period depend on return on invested capital, earnings per share and total stockholder return. Detailed terms are set out in term sheets and award agreements filed as exhibits.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported):

February 26, 2026

Quanta Services, Inc.

(Exact name of registrant as specified in its charter)

Delaware

(State or other jurisdiction

of incorporation)

001-13831		74-2851603
(Commission File No.)		(IRS Employer Identification No.)

2727 North Loop West

Houston, Texas 77008

(Address of principal executive offices, including ZIP code)

(713) 629-7600

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of exchange on which registered
Common Stock, $0.00001 par value		PWR		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(e) On February 26, 2026, the Compensation Committee (the “Compensation Committee”) of the Board of Directors (the “Board”) of Quanta Services, Inc. (“Quanta”) adopted the 2026 annual incentive plan for all corporate employees, the 2026 long-term incentive plan for senior leadership and the 2026 discretionary plan for all employees (collectively, the “Incentive Plan”). Under the Incentive Plan, certain employees of the Company, including all executive officers, are eligible to receive incentive compensation awards payable in cash, restricted stock units and/or performance stock units, and the Compensation Committee established specific target incentive amounts for the executive officers. All equity-based awards under the Incentive Plan will be made pursuant to the Quanta Services, Inc. 2019 Omnibus Equity Incentive Plan, as amended (the “Omnibus Plan”), and the applicable award agreements adopted thereunder, or other plans that may be approved from time to time by the Board or by stockholders as required.

Certain awards under the Incentive Plan are based on the achievement of annual or long-term performance metrics. The annual performance metrics for 2026 include EBITDA, EBITDA margin and safety. The long-term incentive performance metrics for the January 1, 2026 through December 31, 2028 performance period include return on invested capital, earnings per share and total stockholder return.

The foregoing description of the Incentive Plan is qualified in its entirety by reference to the Incentive Plan, the Omnibus Plan, as amended, and the applicable award agreements, copies of which are included as Exhibits 10.1, 10.2, 10.3, 10.4, 10.5 and 10.6 to this Current Report on Form 8-K and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.		Exhibit
10.1		Quanta Services, Inc. Term Sheet for 2026 Annual Incentive Plan – Corporate Employees, Quanta Services, Inc. Term Sheet for 2026 Senior Leadership Long-Term Incentive Plan and Quanta Services, Inc. Term Sheet for 2026 Discretionary Plan – All Employees
10.2		Quanta Services, Inc. 2019 Omnibus Equity Incentive Plan (previously filed as Exhibit 10.1 to the Company’s Form 8-K filed May 24, 2019 and incorporated herein by reference)
10.3		Amendment No. 1 to the Quanta Services, Inc. Omnibus Equity Incentive Plan (previously filed as Exhibit 10.2 to the Company’s Form 8-K filed May 31, 2022 and incorporated herein by reference)
10.4		Amendment No. 2 to the Quanta Services, Inc. Omnibus Equity Incentive Plan (previously filed as Exhibit 10.3 to the Company’s Form 8-K filed May 29, 2025 and incorporated herein by reference)
10.5		Form of PSU Award Agreement for awards to employees/consultants pursuant to the 2019 Omnibus Equity Incentive Plan (adopted August 2023) (previously filed as Exhibit 10.7 to the Company’s Form 10-Q for the quarter ended September 30, 2023 filed November 2, 2023 and incorporated herein by reference)
10.6		Form of RSU Award Agreement for awards to employees/consultants pursuant to the 2019 Omnibus Equity Incentive Plan (adopted August 2023) (previously filed as Exhibit 10.5 to the Company’s Form 10-Q for the quarter ended September 30, 2023 filed November 2, 2023 and incorporated herein by reference)
104		Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: March 4, 2026		Quanta Services, Inc.
		By:		/s/ Donald C. Wayne
				Name:		Donald C. Wayne
				Title:		Executive Vice President and General Counsel

FAQ

What incentive plans did Quanta Services (PWR) approve for 2026?

Quanta Services approved a 2026 annual incentive plan, a 2026 long-term incentive plan for senior leadership, and a 2026 discretionary plan for all employees. Together, these programs form the Incentive Plan governing cash and equity-based compensation opportunities in 2026 and beyond.

Who is eligible to participate in Quanta Services’ 2026 Incentive Plan?

Certain employees of Quanta Services, including all executive officers, are eligible to receive awards under the 2026 Incentive Plan. Eligible participants span corporate employees, senior leadership and other employees covered by the discretionary plan, with awards delivered in cash, restricted stock units and performance stock units.

What performance metrics determine Quanta Services’ 2026 annual incentives?

Annual incentives for 2026 are based on EBITDA, EBITDA margin and safety performance. These metrics guide payout levels under the company’s 2026 annual incentive plan, aligning short-term compensation for eligible employees and executives with profitability, margin quality and workplace safety outcomes during the year.

What long-term metrics apply to Quanta Services’ 2026–2028 incentive awards?

For the January 1, 2026 through December 31, 2028 period, long-term incentive awards use return on invested capital, earnings per share and total stockholder return as key metrics. These measures affect performance stock unit outcomes for senior leadership over the multi-year performance cycle.

Under which plan will Quanta Services grant 2026 equity awards?

Equity awards granted under the 2026 Incentive Plan will be issued pursuant to Quanta Services’ 2019 Omnibus Equity Incentive Plan, as amended. The company will use existing plan documents and related award agreements, or other board- or stockholder-approved plans, to structure restricted stock unit and performance stock unit grants.

Where can investors find the detailed terms of Quanta Services’ 2026 Incentive Plan?

Detailed terms are contained in exhibits filed with the report, including term sheets for the 2026 annual, long-term and discretionary plans, the 2019 Omnibus Equity Incentive Plan, its amendments, and standard forms of PSU and RSU award agreements, all incorporated by reference.

Filing Exhibits & Attachments

4 documents

Agreements & Contracts

• EX-10.1 EX-10.1 26.3 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 2.8 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 16.8 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 10.6 KB