Form 4: MasTec COO Robert Apple Sells 10,000 Shares Under 10b5-1 Plan

MasTec's Chief Operating Officer, Robert Apple, sold 10,000 shares of company stock as part of a pre-arranged 10b5-1 trading plan.

Summary

• Robert Apple, the Chief Operating Officer of MasTec Inc., sold 10,000 shares of common stock on November 26, 2024.
• The sale was executed at a price of $150 per share.
• This transaction was part of a pre-arranged 10b5-1 trading plan designed to systematically reduce Mr. Apple's portfolio concentration in MasTec shares.
• The 10,000 shares sold represent 5.1% of Mr. Apple's total holdings.
• Following the transaction, Mr. Apple directly owns 187,202 shares and indirectly owns 12,017.0979 shares through a 401(k) plan.
• Mr. Apple also has indirect ownership of 87,095 shares through The Apple Family Trust.

Sentiment

Score: 5

Explanation: The document is a routine disclosure of an insider transaction, which is neither positive nor negative in itself. The use of a 10b5-1 plan suggests a planned and orderly sale, which is neutral.

Risks

• The sale of shares by a high-ranking executive could be perceived negatively by some investors, potentially impacting the stock price.

Management Comments

• Mr. Apple is systematically reducing his portfolio concentration in MasTec shares through a 10b5-1 plan.

Industry Context

This is a routine disclosure of an insider transaction, which is common for publicly traded companies. The use of a 10b5-1 plan is a standard practice for executives to avoid accusations of insider trading.

Comparison to Industry Standards

• The use of a 10b5-1 trading plan is a common practice among executives at publicly traded companies, such as those in the S&P 500, to manage their personal holdings while avoiding potential insider trading issues.
• Similar transactions are regularly reported by executives at companies like Quanta Services (PWR) and Dycom Industries (DY), which are also in the infrastructure services sector.

Stakeholder Impact

• The sale of shares by a high-ranking executive could cause some concern among shareholders, but the use of a 10b5-1 plan mitigates this risk.

Key Dates

Keywords

MasTec, Robert Apple, insider trading, 10b5-1 plan, share sale, COO, stock transaction