Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-06-10

Casella Waste Systems (CWST)

Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$4,405,946
John Casella total, FY2025
Executive Chairman of the Board and Secretary and Former Chief Executive Officerhighest-paid officer; CEO Edmond Coletta: $2,830,523
1st
CEO (Edmond Coletta) pay percentile vs peers
35.8:1
CEO-to-median pay ratio
97.3%
Say-on-pay support, latest vote
Companies that benchmark against CWST
5 companies name CWST as a compensation peer

Each company listed discloses CWST in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named CWST in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
John Casella$790,463$0$2,740,659$0$853,697$0$21,127$4,405,946
Executive Chairman of the Board and Secretary and Former Chief Executive Officer
Edmond Coletta615,13401,644,3770553,619017,3932,830,523
President and Chief Executive Officer
Bradford Helgeson500,0000876,9360305,999067,2931,750,228
Executive Vice President and Chief Financial Officer
Shelley Sayward390,7640493,3340239,147015,5771,138,822
Senior Vice President and General Counsel
Sean Steves347,6050438,4680212,73409,4541,008,261
Former Senior Vice President and Chief Operating Officer of Solid Waste Operations

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY20242025
John Casella$4,405,946
Edmond Coletta2,830,523
Bradford Helgeson1,750,228
Shelley Sayward1,138,822
Sean Steves1,008,261

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Edmond ColettaPRESIDENT & CEO2026-05-19D1,593$90$143,370CommonForm 4 ↗
Edmond ColettaPRESIDENT & CEO2026-05-19D6,00089534,180CommonForm 4 ↗
Edmond ColettaPRESIDENT & CEO2026-05-19D4,90790441,973CommonForm 4 ↗
Michael K. BurkeDirector2026-05-26D2,30588201,826CommonForm 4 ↗
John W. CasellaDirector2026-06-01D30,80000Common, indirectForm 4 ↗
John W. CasellaDirector2026-06-01A36,20000Common, indirectForm 4 ↗
John W. CasellaDirector2026-06-01D36,20000CommonForm 4 ↗
John W. CasellaDirector2026-06-01A30,80000CommonForm 4 ↗
Rose Stuckey KirkDirector2026-06-04A1,79384149,984RSUForm 4 ↗
Douglas R. CasellaDirector2026-06-04A1,79384149,984RSUForm 4 ↗
Gary SovaDirector2026-06-04A1,79384149,984RSUForm 4 ↗
William P. HulliganDirector2026-06-04A1,79384149,984RSUForm 4 ↗
Michael K. BurkeDirector2026-06-04A1,79384149,984RSUForm 4 ↗
Michael L. BattlesDirector2026-06-04A1,79384149,984RSUForm 4 ↗
Emily Nagle GreenDirector2026-06-04A1,79384149,984RSUForm 4 ↗
Joseph G. DoodyDirector2026-06-04A1,79384149,984RSUForm 4 ↗
Emily Nagle GreenDirector2026-06-08D60000CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
John W. CasellaPSU2025-03-1217,83342,799$2,115,707
Edmond ColettaPSU2025-03-1210,70025,6801,269,448
Sean StevesRSU2025-03-1295199,988
Sean StevesPSU2025-03-122,8536,847338,480
Edmond ColettaRSU2025-03-123,566374,929
Bradford HelgesonPSU2025-03-125,70613,694676,960
Shelley SaywardPSU2025-03-123,2107,704380,834
Bradford HelgesonRSU2025-03-121,902199,976
Shelley SaywardRSU2025-03-121,070112,500
John W. CasellaRSU2025-03-125,944624,952
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
John W. Casella$624,952$2,115,707$077.2%
Edmond Coletta374,9291,269,448077.2%
Sean Steves99,988338,480077.2%
Bradford Helgeson199,976676,960077.2%
Shelley Sayward112,500380,834077.2%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Sean StevesRSU951$93,141
Edmond ColettaOption30,00082.47
CasellaPSU15,1811,486,827
Shelley SaywardPSU3,210314,387
Sean StevesPSU2,637258,268
Bradford HelgesonPSU5,593547,778
Shelley SaywardPSU3,595352,094
Bradford HelgesonRSU1,243121,739
Shelley SaywardRSU41440,547
Edmond ColettaRSU88486,579
Bradford HelgesonRSU62761,408
Sean StevesRSU30930,263
CasellaRSU5,944582,155
Edmond ColettaPSU7,990782,541
Bradford HelgesonRSU5,706558,846
Edmond ColettaRSU3,566349,254
Sean StevesPSU2,853279,423
Shelley SaywardRSU1,070104,796
Edmond ColettaPSU10,7001,047,958
CasellaRSU2,099205,576
CasellaPSU17,8331,746,564
CasellaRSU3,373330,352
Bradford HelgesonRSU1,902186,282
Edmond ColettaRSU1,775173,844
Shelley SaywardRSU79978,254
Sean StevesRSU58657,393
Bradford HelgesonOption10,50079.72
05

Incentive-plan design — the Compensation Discussion & Analysis

Attract, retain and incentivize qualified and talented executives by providing compensation opportunities comparable to those offered by other companies with which we compete for business and talent; Reward achievement of our short-term and long-term business objectives, while discouraging excessive risk-taking behavior; Ensure that executive compensation is aligned with our corporate strategies, business objectives and the long-term interests of our stockholders; and Closely align the long-term interests of our executives with those of our stockholders by providing equity incentives that link a portion of the executives compensation with the future performance of our Class A common stock.

CEO STI target (% of salary)150%
CEO LTI target (% of salary)
Independent consultantPay Governance
Clawback policyTrue
Anti-hedgingTrue
Anti-pledgingtrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-06-0466,322,4671,840,247303,46997.3%Passed
20252025-06-0565,592,9222,742,17377,93995.99%Passed
20242024-06-1061,734,0821,452,951131,59897.7%Passed
20232023-06-0154,468,8441,911,77415,29096.61%Passed
20222022-06-0253,704,1701,675,04819,78296.98%Passed
20212021-06-0253,334,1972,032,08932,05296.33%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-06-0497.3%a
20252025-06-0595.99%b
20242024-06-1097.7%c

a. Voting standard not stated in the filing.

b. Voting standard not stated in the filing.

c. Voting standard not stated in the filing.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)35.8 : 1
CEO total compensation$2,830,523
Median employee compensation$79,050
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Joseph G. DoodyIndependent · Lead Independent Director · Compensation and Human Capital · Nominating and ESG$112,500$189,915$0$0$0$302,415
Michael K. BurkeIndependent · Audit (Chair) · Nominating and ESG102,500139,931000242,431
William P. HulliganIndependent · Audit · Compensation and Human Capital (Chair)100,000139,931000239,931
Emily Nagle GreenIndependent · Compensation and Human Capital · Nominating and ESG (Chair)97,500139,931000237,431
Gary SovaIndependent · Audit · Compensation and Human Capital92,500139,931000232,431
Michael L. BattlesIndependent · Audit · Nominating and ESG92,500139,931000232,431
Rose Stuckey KirkIndependent · Compensation and Human Capital · Nominating and ESG90,000139,931000229,931
John W. CasellaEmployee director · Board Chair00000
Edmond R. ColettaEmployee director00000
Douglas R. CasellaEmployee director00000
09

Board fee structure and ownership guideline

Annual cash retainer$75,000
Annual equity retainer$140,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)20,000 / 15,000
Stock ownership guideline3x annual retainer ($225,000)
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$687,500
Equity awards (grant-date value)$1,029,501
All other compensation$0
Total cost of the board$1,717,001

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies Casella Waste Systems names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Casella Waste Systems.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Waste Management, Inc.2025James Fish$1,486,538$12,406,478$2,400,021$2,472,480$19,048,786
2Republic Services, Inc.2025Jon Vander Ark1,302,69211,124,48901,982,66414,857,016
3Waste Connections Inc.2025Ronald Mittelstaedt1,171,9435,301,06003,097,6009,757,565
4Casella Waste Systems2025Edmond Coletta615,1341,644,3770553,6192,830,523
GFL Environmental, Inc.not in coverage universe

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Casella Waste Systemsnot disclosedPSU 75 · RSU 25NoPay Governance
GFL Environmental, Inc.not disclosednot disclosednot disclosednot disclosed
Republic Services, Inc.91.79%PSU 80 · RSU 20NoPearl Meyer & Partners, LLC
Waste Connections Inc.not disclosednot disclosednot disclosedIndependent compensation consultant (name not specified in provided text, but retention confirmed)
Waste Management, Inc.103.02%PSU 80 · Options 20NoFrederic W. Cook & Co., Inc.

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, John CasellaDEF 14A2026-04-170001193125-26-161565Section “Summary Compensation Table”. As printed: 4,405,946. Filing ↗machine: t168 · r3 · c25 · span 529116–529125
2Section 01, Edmond ColettaDEF 14A2026-04-170001193125-26-161565Section “Summary Compensation Table”. As printed: 2,830,523. Filing ↗machine: t168 · r7 · c25 · span 534590–534599
3Section 01, Bradford HelgesonDEF 14A2026-04-170001193125-26-161565Section “Summary Compensation Table”. As printed: 1,750,228. Filing ↗machine: t168 · r11 · c25 · span 540003–540012
4Section 01, Shelley SaywardDEF 14A2026-04-170001193125-26-161565Section “Summary Compensation Table”. As printed: 1,138,822. Filing ↗machine: t168 · r15 · c25 · span 545409–545418
5Section 01, Sean StevesDEF 14A2026-04-170001193125-26-161565Section “Summary Compensation Table”. As printed: 1,008,261. Filing ↗machine: t168 · r19 · c25 · span 550819–550828
6Section 03, John W. Casella PSUDEF 14A2026-04-170001193125-26-161565Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t182 · r5 · c49 · span 587965–587974
7Section 03, Edmond Coletta PSUDEF 14A2026-04-170001193125-26-161565Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t182 · r8 · c49 · span 596844–596853
8Section 03, Sean Steves RSUDEF 14A2026-04-170001193125-26-161565Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t182 · r16 · c49 · span 620695–620701
9Section 03, Sean Steves PSUDEF 14A2026-04-170001193125-26-161565Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t182 · r17 · c49 · span 623599–623606
10Section 03, Edmond Coletta RSUDEF 14A2026-04-170001193125-26-161565Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t182 · r7 · c49 · span 593962–593969
11Section 03, Bradford Helgeson PSUDEF 14A2026-04-170001193125-26-161565Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t182 · r11 · c49 · span 605793–605800
12Section 03, Shelley Sayward PSUDEF 14A2026-04-170001193125-26-161565Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t182 · r14 · c49 · span 614662–614669
13Section 03, Bradford Helgeson RSUDEF 14A2026-04-170001193125-26-161565Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t182 · r10 · c49 · span 602887–602894
14Section 03, Shelley Sayward RSUDEF 14A2026-04-170001193125-26-161565Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t182 · r13 · c49 · span 611782–611789
15Section 03, John W. Casella RSUDEF 14A2026-04-170001193125-26-161565Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t182 · r4 · c49 · span 585058–585065
16Section 07, pay ratioDEF 14A2026-04-170001193125-26-161565Section “CEO Pay Ratio”. As printed: 35.8 : 1. Filing ↗machine: span 800654–800660
17Section 08, Joseph G. DoodyDEF 14A2026-04-170001193125-26-161565Section “Director Compensation”. As printed: 302,415. Filing ↗machine: t227 · r3 · c11 · span 896739–896746
18Section 08, Michael K. BurkeDEF 14A2026-04-170001193125-26-161565Section “Director Compensation”. As printed: 242,431. Filing ↗machine: t226 · r5 · c11 · span 893480–893487
19Section 08, William P. HulliganDEF 14A2026-04-170001193125-26-161565Section “Director Compensation”. As printed: 239,931. Filing ↗machine: t227 · r7 · c11 · span 899047–899054
20Section 08, Emily Nagle GreenDEF 14A2026-04-170001193125-26-161565Section “Director Compensation”. As printed: 237,431. Filing ↗machine: t227 · r5 · c11 · span 897879–897886
21Section 08, Gary SovaDEF 14A2026-04-170001193125-26-161565Section “Director Compensation”. As printed: 232,431. Filing ↗machine: t227 · r11 · c11 · span 901344–901351
22Section 08, Michael L. BattlesDEF 14A2026-04-170001193125-26-161565Section “Director Compensation”. As printed: 232,431. Filing ↗machine: t226 · r3 · c11 · span 892340–892347
23Section 08, Rose Stuckey KirkDEF 14A2026-04-170001193125-26-161565Section “Director Compensation”. As printed: 229,931. Filing ↗machine: t227 · r9 · c11 · span 900187–900194
24Section 08, John W. CasellaDEF 14A2026-04-170001193125-26-161565Section “Director Compensation”. As printed: 0. Filing ↗
25Section 08, Edmond R. ColettaDEF 14A2026-04-170001193125-26-161565Section “Director Compensation”. As printed: 0. Filing ↗
26Section 08, Douglas R. CasellaDEF 14A2026-04-170001193125-26-161565Section “Director Compensation”. As printed: 0. Filing ↗
27Section 02, Edmond Coletta 2026-05-19Form 42026-05-220001564279-26-000007Insider equity transaction reported since the proxy statement. Filing ↗
28Section 02, Edmond Coletta 2026-05-19Form 42026-05-220001564279-26-000007Insider equity transaction reported since the proxy statement. Filing ↗
29Section 02, Edmond Coletta 2026-05-19Form 42026-05-220001564279-26-000007Insider equity transaction reported since the proxy statement. Filing ↗
30Section 02, Michael K. Burke 2026-05-26Form 42026-05-270001224062-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
31Section 02, John W. Casella 2026-06-01Form 42026-06-020001055352-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
32Section 02, John W. Casella 2026-06-01Form 42026-06-020001055352-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
33Section 02, John W. Casella 2026-06-01Form 42026-06-020001055352-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
34Section 02, John W. Casella 2026-06-01Form 42026-06-020001055352-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
35Section 02, Rose Stuckey Kirk 2026-06-04Form 42026-06-050001820260-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
36Section 02, Douglas R. Casella 2026-06-04Form 42026-06-050001055353-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
37Section 02, Gary Sova 2026-06-04Form 42026-06-050001863220-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
38Section 02, William P. Hulligan 2026-06-04Form 42026-06-050001283143-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
39Section 02, Michael K. Burke 2026-06-04Form 42026-06-050001224062-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
40Section 02, Michael L. Battles 2026-06-04Form 42026-06-050001379357-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
41Section 02, Emily Nagle Green 2026-06-04Form 42026-06-050001553453-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
42Section 02, Joseph G. Doody 2026-06-04Form 42026-06-050001180658-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
43Section 02, Emily Nagle Green 2026-06-08Form 42026-06-100001553453-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
44Section 06, 2026 voteForm 8-K2026-06-080000911177-26-000033Item 5.07 · say-on-pay result. As reported: 97.3% (votes for as printed: 66,322,467). Filing ↗
45Section 06, 2025 voteForm 8-K2025-06-060000911177-25-000092Item 5.07 · say-on-pay result. As reported: 95.99% (votes for as printed: 65,592,922). Filing ↗
46Section 06, 2024 voteForm 8-K2024-06-100000911177-24-000069Item 5.07 · say-on-pay result. As reported: 97.7% (votes for as printed: 61,734,082). Filing ↗
47Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
48Section 09b board cost (computed)ComputedcomputedCash 687,500 + equity 1,029,501 + all other 0 = 1,717,001, summed across the director compensation table rows.machine: formula: Σ = 1,717,001
49Waste Management, Inc., Section 10b CEO totalDEF 14A2026-03-310001104659-26-037381CEO total compensation as printed in Waste Management, Inc.'s own proxy. As printed: 19,048,786. Filing ↗machine: t83 · r2 · c36 · span 986125–986135
50Republic Services, Inc., Section 10b CEO totalDEF 14A2026-03-240001193125-26-121796CEO total compensation as printed in Republic Services, Inc.'s own proxy. As printed: 14,857,016. Filing ↗machine: t333 · r3 · c29 · span 1371801–1371811
51Waste Connections Inc., Section 10b CEO totalDEF 14A2026-04-020001104659-26-039146CEO total compensation as printed in Waste Connections Inc.'s own proxy. As printed: 9,757,565. Filing ↗
52Casella Waste Systems (subject), Section 10b CEO totalDEF 14A2026-04-170001193125-26-161565CEO total compensation as printed in Casella Waste Systems's own proxy. As printed: 2,830,523. Filing ↗machine: t168 · r7 · c25 · span 534590–534599
53Section 10a, Waste Management, Inc. reciprocityDEF 14A0001104659-26-037381Waste Management, Inc.'s most recent proxy was read; its disclosed peer group does not include Casella Waste Systems. Filing ↗
54Section 10a, Waste Connections Inc. reciprocityDEF 14A0001104659-26-039146Waste Connections Inc.'s most recent proxy was read; its disclosed peer group does not include Casella Waste Systems. Filing ↗