Attached files
file | filename |
---|---|
8-K - FORM 8-K - QUANTA SERVICES, INC. | h69859e8vk.htm |
Exhibit 99.1
PRESS RELEASE |
FOR IMMEDIATE RELEASE
10-04
10-04
Contacts:
|
James Haddox, CFO | Ken Dennard / ksdennard@drg-e.com | ||
Reba Reid | Kip Rupp / krupp@drg-e.com | |||
Quanta Services, Inc. | DRG&E | |||
713-629-7600 | 713-529-6600 |
OFFICERS OF QUANTA SERVICES TO REPORT
THE WITHHOLDING OF SHARES
THE WITHHOLDING OF SHARES
HOUSTON March 1, 2010 Quanta Services, Inc. (NYSE: PWR) today announced that certain of
its executive officers will submit Form 4 filings by tomorrow pursuant to Section 16 of the
Securities Exchange Act of 1934.
Under Quantas 2001 Stock Incentive Plan and 2007 Stock Incentive Plan, certain of its employees,
including certain executive officers, previously received restricted stock awards, a portion of
which vested on February 28, 2010. These awards for Quantas executive officers were previously
reported on Form 4 filings. Pursuant to the Plans, employees may elect to satisfy their tax
withholding obligations upon vesting by having Quanta make the tax payments and withhold a number
of vested shares having a value on the date of vesting equal to the employees tax withholding
obligation. As a result of employee elections, Quanta withheld shares of stock from certain of its
executive officers to satisfy their tax obligations. The Form 4 filings will report as
dispositions the number of shares withheld by Quanta and will reflect that the dispositions are
exempt transactions in accordance with Rule 16b-3 under the Exchange Act.
Quanta Services is a leading specialized contracting services company, delivering infrastructure
solutions for the electric power, natural gas and pipeline and telecommunication industries. The
companys comprehensive services include designing, installing, repairing and maintaining network
infrastructure nationwide. Additionally, Quanta licenses point-to-point fiber optic
telecommunications infrastructure in select markets and offers related design, procurement,
construction and maintenance services. With operations throughout North America, Quanta has the
manpower, resources and expertise to complete projects that are local, regional, national or
international in scope.
# # #