The Company’s share repurchase program provides for the repurchase, from time to time, of MasTec common shares in open market transactions or in privately negotiated transactions in accordance with applicable securities laws. There were no share repurchases under the Company’s share repurchase program for the six months ended June 30, 2026. For the three and six months ended June 30, 2025, the Company repurchased 0.4 million and 0.7 million shares of its common stock, respectively, for an aggregate purchase price totaling $40.3 million and $77.3 million, respectively, which completed the Company’s $150 million March 2020 share repurchase program. As of June 30, 2026, the full amount under the Company’s May 2025 $250 million share repurchase program remains available for future repurchases. The Company’s share repurchase program does not have an expiration date and may be modified or suspended at any time at the Company’s discretion.

During the second quarter of 2026, the Company reissued 67,592 shares of its treasury stock with a cost basis of $2.4 million in settlement of certain Additional Payments in connection with the HMG acquisition. For additional information related to shares issued for acquisitions, see Note 3 – Acquisitions, Goodwill and Other Intangible Assets, Net.

The Company has stock-based compensation plans, under which shares of the Company’s common stock are reserved for issuance. Under all stock-based compensation plans in effect as of June 30, 2026, there were approximately 3,847,000 shares available for future grants. Non-cash stock-based compensation expense under all plans totaled approximately $11.5 million and $9.4 million for the three months ended June 30, 2026 and 2025, respectively, and totaled approximately $19.8 million and $16.3 million for the six months ended June 30, 2026 and 2025, respectively. Income tax benefits associated with stock-based compensation arrangements totaled $2.6 million and $1.7 million for the three months ended June 30, 2026 and 2025, respectively. For the six months ended June 30, 2026 and 2025, income tax benefits totaled $6.6 million and $3.3 million, respectively, including net tax benefits related to the vesting of share-based payment awards totaling $2.6 million and $0.4 million for the respective periods.

MasTec grants restricted stock awards and restricted stock units (together, “restricted shares”) to eligible participants, which are valued based on the closing market share price of MasTec common stock on the date of grant. During the restriction period, holders of restricted stock awards are entitled to vote the shares. As of June 30, 2026, total unearned compensation related to restricted shares was approximately $84.4 million, which amount is expected to be recognized over a weighted average period of approximately 2.3 years. The fair value of restricted shares that vested totaled approximately $1.8 million and $0.5 million for the three months ended June 30, 2026 and 2025, respectively, and totaled approximately $58.9 million and $21.3 million for the six months ended June 30, 2026 and 2025, respectively.


Activity, restricted shares: (a)	Restricted Shares	Per Share Weighted Average Grant Date Fair Value
Non-vested restricted shares, as of December 31, 2025	1,038,778	$	92.26
Granted	195,822	304.04
Vested	(196,464)	98.39
Canceled/forfeited	(12,195)	105.91
Non-vested restricted shares, as of June 30, 2026	1,025,941	$	131.35