Company: WCN
Filing Date: 2025-04-04
Form Type: DEF 14A
Source: 0001104659-25-032201
Chunk: 28

Company: Waste Connections, Inc.
Filing Date: 2025-04-04
Form: DEF 14A
Chunk 28
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 key strategic and financial performance measures by linking incentive award opportunities to the achievement of performance measures in these areas. 
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 Create an incentive for sustained growth. 
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 Provide a balanced approach to compensation policies and practices, which does not promote excessive risk-taking. 
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Our overall executive compensation program is structured to attract and retain highly qualified executive and corporate officers by paying them competitively and consistent with our success. We believe that the compensation structure should ensure that a significant portion of pay directly relates to the performance of our Common Shares and other factors that directly and indirectly influence shareholder value. Accordingly, our approach to compensation is to provide: • base salary; • an annual performance-based incentive opportunity tied to goals that link NEO compensation to our annual operating and financial performance; and • long-term equity grants intended to align NEO compensation with shareholder returns and financial performance over a longer period and to aid in retention. Each year, the Compensation Committee allocates total compensation for the Company’s NEOs between cash and equity based on comparisons with other companies and the Compensation Committee’s judgment.

2025 Proxy • Waste Connections, Inc. 41

TABLE OF CONTENTS Compensation Discussion and Analysis

The following is a summary of some of the key points of our executive compensation program.

| ​ | ​ | We emphasize pay-for-performance.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
 We believe a significant portion of our executive officers’ compensation should be variable and at risk and tied to our measurable performance. The Compensation Committee has designed our executive compensation program so that total compensation is earned largely based on attaining multiple, pre-established financial performance measures.                                                                                                                                                                                                                                                                                   | ​ | ​ |
| ​ | ​ | We believe that our compensation program is strongly aligned with the long-term interests of our shareholders.We believe that equity awards comprised of PSUs and RSUs serve to align the interests of our executive officers with those of our shareholders by encouraging long-term performance. As such, equity awards are a key component of our executive compensation program.                                                                                                                                                                                                                                                   | ​ | ​ |
| ​ | ​ | We believe that we provide competitive pay opportunities that are intended to reflect best practices.The Compensation Committee periodically reviews our executive compensation program with the intent to provide competitive pay opportunities, reflect best practices and further align pay with performance.                                                                                                                                                                                                                                                                                                                       | ​ | ​ |
| ​ | ​ | We updated the performance-based metrics for our PSUs to include ESG and sustainability targets.Incentive