Company: WCN
Filing Date: 2025-04-04
Form Type: DEF 14A
Source: 0001104659-25-032201
Chunk: 59

Company: Waste Connections, Inc.
Filing Date: 2025-04-04
Form: DEF 14A
Chunk 59
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2016 Plan is 7,500,000 Common Shares, representing 2.90% (7)of our issued and outstanding Common Shares. Awards under the 2016 Plan may be made to employees, consultants and non-employee directors and may be made in the form of share options, warrants, restricted shares, RSUs, performance awards (which may be paid in cash, Common Shares, or a combination thereof), dividend equivalent awards (representing a right of the holder thereof to receive the equivalent value (which may be paid in cash or Common Shares) of dividends paid on Common Shares), and share payments (a payment in the form of Common Shares or a share option or other right to purchase Common Shares as part of a bonus, defined compensation or other arrangement). The 2016 Plan also provides for awards to non-employee directors in the form of DSUs, which represent the right to receive a cash payment or its equivalent in Common Shares (or a combination of cash and Common Shares), or which may at the time of grant be expressly limited to settlement only in cash and not in Common Shares. As of December 31, 2024, DSUs, RSUs, PSUs and Warrants were the only forms of awards granted under the 2016 Plan. As of December 31, 2024, under the 2016 Plan, there were 17,786 DSUs outstanding, representing 0.007% of our Common Shares then issued and outstanding, 912,560 RSUs outstanding, representing 0.354% of our Common Shares then issued and outstanding, 219,143 PSUs outstanding, representing 0.085% of our Common Shares then issued and outstanding, 921,426 Warrants outstanding, representing 0.357% of our Common Shares then issued and outstanding, and 1,993,310 awards remained available for grant, representing 0.773% of our Common Shares then issued and outstanding. The annual burn rate (excluding warrants issued in connection with acquisitions closed during the applicable fiscal year) under the 2016 Plan for the fiscal years ended 2022, 2023 and 2024 was 0.226%, 0.196% and 0.172%, respectively. The annual burn rate is calculated as (x) the number of securities (i.e., DSUs, RSUs and PSUs) granted thereunder during the applicable fiscal year, divided by (y) the weighted average number of shares outstanding in 2024, calculated