Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - QUANTA SERVICES, INC. | h80219e8vk.htm |
Exhibit 99.1
|
PRESS RELEASE |
FOR IMMEDIATE RELEASE
11-06
Contacts:
|
James Haddox, CFO | Ken Dennard / ksdennard@drg-l.com | ||
| Reba Reid | Kip Rupp / krupp@drg-l.com | |||
| Quanta Services Inc. | DRG&L | |||
| 713-629-7600 | 404-880-9276 |
Officers of Quanta Services Report the Withholding of Shares
HOUSTON — March 2, 2011 — Quanta Services, Inc. (NYSE: PWR) today announced that certain of
its executive officers have filed Form 4 reports with the Securities and Exchange Commission
pursuant to Section 16 of the Securities Exchange Act of 1934.
Under Quanta’s 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, 2011. These awards for Quanta’s executive officers were previously reported on Form 4
filings. Pursuant to the Plan, 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 employee’s 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 report as “dispositions” the number of shares
withheld by Quanta and 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 telecommunications industries. The
company’s comprehensive services include designing, installing, repairing and maintaining network
infrastructure nationwide. Additionally, Quanta provides 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.
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