8-KMaterial AgreementsExhibits & Filings

QUANTA SERVICES, INC. 8-K Report, Material Agreement (Dec 7, 2004)

Filed December 7, 2004For Securities:PWR

Summary

Quanta Services, Inc. (PWR) has filed an 8-K report detailing revisions to its director compensation structure, effective for the 2005 Annual Meeting of the Board of Directors. This filing primarily addresses changes to the annual cash retainers for committee chairmen, a move that investors should note as it impacts executive compensation and corporate governance. The specific amounts indicate an increased financial incentive for those leading key committees. Investors should pay close attention to the financial implications of these compensation adjustments, as well as the ongoing governance practices of the company. The filing also includes a summary of director compensation as an exhibit, providing transparency into how the company compensates its board members for their service and oversight. This report signals a proactive adjustment by Quanta Services in its approach to board remuneration.

Key Highlights

  • 1Quanta Services, Inc. (PWR) announced revisions to its director compensation plan, effective with the 2005 Annual Meeting.
  • 2Annual cash retainers for committee chairmen have been established.
  • 3The Chairman of the Audit Committee will receive an annual cash retainer of $5,000.
  • 4The Chairmen of the Governance and Nominating Committee and the Compensation Committee will each receive an annual cash retainer of $3,000.
  • 5A summary of the revised director compensation is filed as an exhibit to this 8-K report.

Frequently Asked Questions

The main purpose of this 8-K filing is to disclose revisions to Quanta Services, Inc.'s director compensation, specifically the introduction of annual cash retainers for committee chairmen, effective from the 2005 Annual Meeting of the Board of Directors.

The compensation for directors will change by adding annual cash retainers for the chairmen of key committees. The Chairman of the Audit Committee will receive $5,000 annually, and the Chairmen of the Governance and Nominating Committee and the Compensation Committee will each receive $3,000 annually.

These changes to director compensation will take effect as of the 2005 Annual Meeting of the Board of Directors.

A summary of Quanta Services, Inc.'s director compensation is filed as an exhibit (Exhibit 10.1) to this 8-K report, providing further details on the revised compensation structure.