01—Abstract
Summary
Summary of the 8-K filed May 20, 2025. Cited figures are marked; the original filing is the authoritative source.
Waste Connections, Inc. reported a leadership change in its finance organization.
On May 15, 2025, the company named Derek Tan as Senior Vice President and Chief Accounting Officer, effective May 19, 2025. Mr. Tan, age 40, succeeds Matthew S. Black, who moved on the same date to his former role of Senior Vice President and Chief Tax Officer.
Mr. Tan previously served as Vice President – Financial Reporting and has been with the Company since 2016. Under a letter agreement dated May 19, 2025, between Waste Connections US, Inc. and Mr. Tan, entered under the company's Separation Benefits Plan (as amended and restated July 26, 2022), his base salary will be $350,000a with a target annual bonus of 70% of base salary. He will also be eligible for equity awards on terms and at participation levels the Board or Compensation Committee considers appropriate.
The filing states there are no arrangements or understandings tied to his selection, no family relationships with directors or executive officers, and no related-person transactions requiring disclosure under Item 404(a) of Regulation S-K. The filing is limited to this executive appointment and compensation arrangement.
The full letter agreement is filed as Exhibit 10.1 to the report, and the Separation Benefits Plan is incorporated by reference to Exhibit 10.1 of the company's Form 10-Q filed August 3, 2022. The report was signed by Mary Anne Whitney, Executive Vice President and Chief Financial Officer, on May 20, 2025.
02—Key points
Key Highlights
- Derek Tan, age 40 and with the Company since 2016, was named Senior Vice President and Chief Accounting Officer, effective May 19, 2025.
- Matthew S. Black transitioned on May 19, 2025, to his former role of Senior Vice President and Chief Tax Officer.
- Mr. Tan previously served as Vice President – Financial Reporting.
- Mr. Tan's letter agreement sets a base salary of $350,000 and a target annual bonus of 70% of base salary.
- Mr. Tan is eligible for equity awards on terms and participation levels set by the Board or Compensation Committee.
- The filing states there are no arrangements tied to the appointment, no family relationships with directors or executive officers, and no Item 404(a) related-person transactions.
- The letter agreement is filed as Exhibit 10.1 and is issued under the Separation Benefits Plan, as amended and restated July 26, 2022.
03—Questions
Frequently Asked Questions
Who is the new Chief Accounting Officer at Waste Connections?
Derek Tan, who has been with the Company since 2016 and previously served as Vice President – Financial Reporting, was named Senior Vice President and Chief Accounting Officer, effective May 19, 2025.
What happened to the former Chief Accounting Officer, Matthew S. Black?
Matthew S. Black transitioned on May 19, 2025, to his former role of Senior Vice President and Chief Tax Officer.
What compensation does Mr. Tan receive under his new letter agreement?
Under the letter agreement dated May 19, 2025, Mr. Tan's base salary is $350,000, with a target annual bonus of 70% of base salary. He is also eligible for equity awards on terms the Board or Compensation Committee considers appropriate.
Were there any special arrangements or related-party issues tied to the appointment?
The filing states there are no arrangements or understandings under which Mr. Tan was selected, no family relationship with any director or executive officer or nominee, and no transactions requiring disclosure under Item 404(a) of Regulation S-K.
Where can the full terms of the agreement and plan be found?
The Tan Letter Agreement is filed as Exhibit 10.1 to this Form 8-K. The Separation Benefits Plan is filed as Exhibit 10.1 to the Company's Quarterly Report on Form 10-Q filed August 3, 2022.
04—Continue