0000899243-19-027617.txt : 20191119 0000899243-19-027617.hdr.sgml : 20191119 20191119204021 ACCESSION NUMBER: 0000899243-19-027617 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20191119 FILED AS OF DATE: 20191119 DATE AS OF CHANGE: 20191119 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: MAS JORGE CENTRAL INDEX KEY: 0000920559 STATE OF INCORPORATION: FL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-08106 FILM NUMBER: 191232828 MAIL ADDRESS: STREET 1: 800 DOUGLAS ROAD STREET 2: 12TH FLOOR CITY: CORAL GABLES STATE: FL ZIP: 33134 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: MASTEC INC CENTRAL INDEX KEY: 0000015615 STANDARD INDUSTRIAL CLASSIFICATION: WATER, SEWER, PIPELINE, COMM AND POWER LINE CONSTRUCTION [1623] IRS NUMBER: 650829355 STATE OF INCORPORATION: FL FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 800 S. DOUGLAS ROAD STREET 2: 12TH FLOOR CITY: CORAL GABLES STATE: FL ZIP: 33134 BUSINESS PHONE: 3055991800 MAIL ADDRESS: STREET 1: 800 S. DOUGLAS ROAD STREET 2: 12TH FLOOR CITY: CORAL GABLES STATE: FL ZIP: 33134 FORMER COMPANY: FORMER CONFORMED NAME: BURNUP & SIMS INC DATE OF NAME CHANGE: 19920703 4 1 doc4.xml FORM 4 SUBMISSION X0306 4 2019-11-19 0 0000015615 MASTEC INC MTZ 0000920559 MAS JORGE 800 S. DOUGLAS ROAD, 12TH FLOOR CORAL GABLES FL 33134 1 0 0 0 Forward sale contract (potential obligation to sell) 2019-11-19 4 J 1 2500000 A Common Stock 2500000 2500000 I See Footnote On November 19, 2019, Jorge Mas Holdings I, LLC, a Florida limited liability company ("JM Holdings I"), which is controlled by Jorge Mas Holdings, LLC, a Florida limited liability company, of which the reporting person is the sole member, entered into a prepaid variable forward sale contract with an unaffiliated third party buyer. JM Holdings I pledged an aggregate of 2,500,000 shares (the "Pledged Shares") of MasTec, Inc. common stock to secure its obligations under the contract, and retained ownership and voting rights in the Pledged Shares during the term of the pledge. The contract obligates JM Holdings I to deliver to the buyer, on the applicable settlement date for the applicable component (of ten components), at JM Holdings I's option, up to one hundred percent (100%) of the number of Pledged Shares for such component or an equivalent amount of cash. (Continued from Footnote 1) The number of shares of MasTec, Inc. common stock to be delivered to the buyer on the settlement date (or on which to base the amount of cash to be delivered to the buyer on the settlement date) is to be determined as follows: (a) if the volume-weighted average price of MasTec, Inc. common stock on the designated valuation date for the applicable component (each, a "Settlement Price") is less than or equal to $61.794 (the "Floor Price"), JM Holdings I will deliver to the buyer all of the Pledged Shares for the applicable component; (b) if such Settlement Price is greater than the Floor Price but less than or equal to $82.804 (the "Cap Price"), JM Holdings I will deliver to the buyer the number of shares equal to one hundred percent (100%) of the Pledged Shares for the applicable component multiplied by a fraction, the numerator of which is the Floor Price and the denominator of which is such Settlement Price and (Continued from Footnote 2) (c) if such Settlement Price is greater than the Cap Price, JM Holdings I will deliver to the buyer the number of shares equal to one hundred percent (100%) of Pledged Shares for the applicable component multiplied by a fraction, the numerator of which is the Floor Price plus the excess of such Settlement Price over the Cap Price, and the denominator of which is such Settlement Price. In connection with JM Holdings I's entry into the forward contract described in Footnote (1), JM Holdings I was entitled to receive aggregate net cash payments (amounts receivable by it upon entry into the forward contract) of $145,892,632.06. Such amount was determined based on the market value of MasTec, Inc. common stock on November 19, 2019. Each component is exercisable on the same date as it expires, which date for each component, occurs between December 5, 2022 and December 16, 2022. Shares owned of record by JM Holdings I. \s\ Albert de Cardenas For: Jorge Mas 2019-11-19