Company: WCN
Filing Date: 2025-04-04
Form Type: DEF 14A
Source: 0001104659-25-032201
Chunk: 60

Company: Waste Connections, Inc.
Filing Date: 2025-04-04
Form: DEF 14A
Chunk 60
---
 in accordance with the CPA Canada Handbook. When warrants issued in connection with acquisitions closed during the applicable fiscal year are included, the annual burn rate under the 2016 Plan for the fiscal years ended 2022, 2023 and 2024 was 0.346%, 0.246% and 0.289%, respectively.

(7) Based on 258,363,968 Common Shares outstanding as of the Record Date. 2025 Proxy • Waste Connections, Inc. 63

TABLE OF CONTENTS Executive Compensation Tables and Additional Information Potential Payments upon Termination or Change in Control Severance Arrangements in Effect in 2024 During 2024, (i) Mr. Mittelstaedt, our President and Chief Executive Officer, was eligible to receive separation benefits and change in control payments pursuant to the participation letter agreement under the Separation Benefits Plan that was entered into on April 23, 2023, and (ii) our other NEOs were eligible to receive separation benefits and change in control payments pursuant to the participation letter agreements under the Separation Benefits Plan that were entered into on July 25, 2019, for Messrs. Chambliss, Shea and Little, and February 1, 2021, for Ms. Whitney, each as amended on November 10, 2022. The following discussion assumes that a termination or resignation of employment occurred on December 31, 2024, as applicable, and describes the terms of these payments and benefits and the circumstances in which they will be paid or provided. Under the terms of the Separation Benefits Plan and their respective participation letter agreements, each of Ms. Whitney and Messrs. Mittelstaedt, Chambliss, Shea and Little is entitled to receive separation pay upon a termination by us without “cause” or resignation by such NEO for “good reason” prior to a change in control. The amount payable to Ms. Whitney and Messrs. Mittelstaedt, Chambliss, Shea and Little is: (i) a cash payment equal to 2.99x of his or her then-current base salary; and (ii) an amount equal to the target bonus for the year in which the termination occurs, which was 160% of Mr. Mittelstaedt’s base salary at the time of termination, and 100% of Ms. Whitney’s and Messrs. Chambliss’, Shea’s and Little’s base salary at the time of termination, payable in three equal