Company: WCN
Filing Date: 2025-04-04
Form Type: DEF 14A
Source: 0001104659-25-032201
Chunk: 76

Company: Waste Connections, Inc.
Filing Date: 2025-04-04
Form: DEF 14A
Chunk 76
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AAP financial measures used in this Proxy Statement to GAAP financial measures.

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(5)

On April 23, 2023, Mr. Mittelstaedt was appointed President and Chief Executive Officer. As a result, 2023 was Mr. Mittelstaedt’s first year as CEO during the periods listed.

**Pay Versus Performance Tabular List**

We believe the following performance measures represent the most important financial performance measures used by us to link compensation actually paid to our NEOs for the fiscal year ended December 31, 2024:

| ​ | Most Important Financial Performance Measures                                      | ​ |
| ​ | Adjusted EBITDA                                                                    | ​ |
| ​ | Return on Invested Capital (ROIC)                                                  | ​ |
| ​ | Free Cash Flow Per Share (FCFPS)                                                   | ​ |
| ​ | Operating Income (EBIT)                                                            | ​ |
| ​ | Operating Income as a Percentage of Revenue (EBIT Margin)                          | ​ |
| ​ | Net Cash Provided by Operating Activities as a Percentage of Revenue (CFFO Margin) | ​ |

For additional details regarding our most important financial performance measures, please see the discussion in the Compensation Discussion and Analysis (CD&A) section of this Proxy Statement.

2025 Proxy • Waste Connections, Inc. 71

TABLE OF CONTENTS Executive Compensation Tables and Additional Information Relationship Between Compensation Actually Paid and Performance Measures The graphs below compare the compensation actually paid to our CEO and the average of the compensation actually paid to our remaining NEOs, with: • The Company’s cumulative Total Shareholder Return (“TSR”) and the Peer Group’s cumulative TSR; • The Company’s Net Income; and • The Company Selected Measure, which is Adjusted EBITDA. Compensation Actually Paid vs. Total Shareholder Return Compensation Actually Paid vs. Net Income 72 2025 Proxy • Waste Connections, Inc. TABLE OF CONTENTS Executive Compensation Tables and Additional Information Compensation Actually Paid vs. Adjusted EBITDA 2025 Proxy • Waste Connections, Inc. 73 TABLE OF CONTENTS Certain Relationships and Related Transactions 2024 Related Party Transactions There are no related party transactions among our executive officers and directors, other than those disclosed below. Since June 2016, Namen Chambliss has held the position of Director of Network and Integrations for a subsidiary of the Company. From January 2005 to that date, Mr. N. Chambliss held the position of Network Manager for a subsidiary of the Company. Mr. N. Cham