Company: WCN
Filing Date: 2025-04-04
Form Type: DEF 14A
Source: 0001104659-25-032201
Chunk: 18

Company: Waste Connections, Inc.
Filing Date: 2025-04-04
Form: DEF 14A
Chunk 18
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 practices have been adopted to align with market best practices and ensure director interests are closely aligned with the interests of our shareholders as set forth below. • Appropriate Compensation Mix.The majority of director compensation is equity-based. Cash retainers, including incremental Board and committee leadership retainers, are intended to provide fixed compensation for time spent, while the equity-based compensation component recognizes director responsibility for strategic oversight and shareholder value. • Periodic Review.Our Compensation Committee re-assesses our non-employee director compensation periodically and intends to continue to engage an independent compensation consultant to perform a comprehensive market analysis of our director compensation program and practices. The results of the most recent review, including changes made to our director compensation program in 2023, are described further in Director Compensation Review. • Annual Limit on Total Compensation.Our 2016 Incentive Award Plan (the “2016 Plan”), a summary of which is attached as Appendix B, sets forth a meaningful annual limit on non-employee director compensation, as further described below in Annual Limit on Non-Employee Director Compensation. • Share Ownership Guidelines.We maintain meaningful share ownership guidelines that align our directors’ long-term interests with those of our shareholders, as further described below in Non-Employee Director Equity Ownership. • No Hedging or Pledging of Securities.We maintain a policy that prohibits directors from engaging in transactions designed to hedge against the economic risks associated with an investment in Common Shares. In addition, these individuals may not pledge Common Shares as collateral unless preauthorized to do so in certain limited situations. • No Additional Compensation for Employee Directors.Directors who also serve as employees of the Company receive no additional compensation for director service. Director Compensation Review The Compensation Committee periodically engages its independent compensation consultant to review director compensation using the same peer group used to benchmark executive compensation. The Compensation Committee independently retained Pearl Meyer & Partners, LLC (“Pearl Meyer”) in 2022 to review the compensation of the Company’s non-employee directors, which had remained unchanged since 2016. After reviewing the information presented during the fourth quarter of 2022 and upon recommendation by the Compensation Committee, the Board of Directors in February 2023 approved (1) a CAD$35,000 increase in the dollar value of the target DSU/RSU grant for non-employee directors (from CAD$210,000 to CAD$245,000), effective beginning in 2023; and (2) an increase in the share ownership requirement for non-employee directors to hold Common Shares having a market value of at least $500,000, or