Company: WCN
Filing Date: 2025-04-04
Form Type: DEF 14A
Source: 0001104659-25-032201
Chunk: 31

Company: Waste Connections, Inc.
Filing Date: 2025-04-04
Form: DEF 14A
Chunk 31
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 (2) the Comparator Group, which consists of companies (most of which operate outside the solid waste industry) with comparable financial profiles; and (3) its own judgment as to an appropriate level of compensation for a company of our size and financial performance. From time to time, the Compensation Committee uses compensation consultants and comparator group analyses from third parties to assess our compensation components. For 2024, the Compensation Committee maintained the percentage of PSU awards as a proportion of total equity compensation at 50%. In setting compensation for 2024, the Compensation Committee considered a tally sheet that included, for each NEO and other corporate officers: • current base salary; • salary paid in the prior year; • bonus percentage; • cash bonus paid for the prior year; • RSUs and PSUs granted in the prior year; • dollar amount of 401(k) and Nonqualified Deferred Compensation Plan matches in the prior year; • payments and reimbursements for various expenses that could be considered perquisites; and • value of unvested RSUs and PSUs as of the end of the prior year. In determining the amount of compensation for the NEOs, the Compensation Committee does not consider amounts realized from prior equity-based compensation grants because the Compensation Committee seeks to provide compensation that takes into account the cost of replacing the NEO on a market competitive basis and what is equitable based on our performance. We believe that, to some extent, appreciation reflected in the amounts realized from prior equity-based compensation grants confirms the Compensation Committee’s success in aligning compensation with our shareholders’ interests. Exercise of Discretion in Executive Compensation Decisions As a risk mitigation provision, the Compensation Committee has complete discretion to withhold all or a portion of payments pursuant to any of our incentive compensation plans irrespective of whether we or the NEOs have successfully met the goals set under those plans. Role of Independent Compensation Consultant The Compensation Committee periodically retains Pearl Meyer to: • provide market data and information regarding market practices and trends; • assess the competitiveness of our executive compensation program; • compare our performance relative to a Comparator Group; • assist with the development of the Compensation Discussion and Analysis in this Proxy Statement; and • provide analysis on our non-employee director compensation. The Compensation Committee retains Pearl Meyer directly, supervises all work assignments performed by the firm, and reviews and approves all work invoices received for payment. As required under Item 407(e)(3) of Regulation S-K, the Compensation Committee annually

2025 Proxy • Waste Connections, Inc. 45

TABLE OF CONTENTS Compensation Discussion and Analysis