Management Change/Compensation - Form 8-K

(e) On March 4, 2024, the Compensation Committee (the "Compensation Committee") of the Board of Directors (the "Board") of Quanta Services, Inc. ("Quanta") adopted the 2024 annual incentive plan for all corporate employees, the 2024 long-term incentive plan for senior leadership and the 2024 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 2024 include EBITDA, EBITDA margin and safety. The long-term incentive performance metrics for the January 1, 2024 through December 31, 2026 performance period include return on invested capital, total stockholder return, capital efficiency and certain operational performance metrics.

The foregoing description of the Incentive Plan is qualified in its entirety by reference to the Incentive Plan, the Omnibus Plan, Amendment No. 1 to the Omnibus Plan and the applicable award agreements, copies of which are included as Exhibits 10.1, 10.2, 10.3, 10.4 and 10.5 to this Current Report on Form 8-Kand incorporated herein by reference.