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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Wca Waste Corp. (MM) | NASDAQ:WCAA | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 6.49 | 0 | 00:00:00 |
Delaware
|
20-0829917
|
(State or other jurisdiction of
|
(I.R.S. Employer
|
incorporation or organization)
|
Identification Number)
|
1330 Post Oak Blvd., 30th Floor
|
|
Houston, Texas
|
77056
|
(Address of principal executive offices)
|
(Zip Code)
|
Title of Each Class
|
Name of Each Exchange On Which Registered
|
|
Common Stock
|
The NASDAQ Stock Market, LLC
|
Large accelerated filer
£
|
Accelerated filer
£
|
Non-accelerated filer
£
|
Smaller reporting company
þ
|
Page
|
|
1
|
|
7
|
|
23
|
|
27
|
|
30
|
|
32
|
|
33
|
|
Exhibit Index | |
Name
|
Age
|
Director Since
|
||
Tom J. Fatjo, Jr. (1) (Chairman)
|
71
|
2000
|
||
Jerome M. Kruszka
|
63
|
2000
|
||
Richard E. Bean
|
68
|
2004
|
||
Roger A. Ramsey
|
73
|
2004
|
||
Preston Moore, Jr.
|
79
|
2006
|
||
Honorable John V. Singleton
|
94
|
2006
|
||
Daniel J. Clark
|
57
|
2010
|
Name
|
Age
|
Director Since
|
||
Jeffrey S. Serota
|
46
|
2006
|
||
Ryan Berry
|
32
|
2010
|
Name
|
Age
|
Position Held
|
||
Tom J. Fatjo, Jr.
|
71
|
Chairman of the Board and Chief Executive Officer
|
||
Jerome M. Kruszka
|
63
|
President and Chief Operating Officer
|
||
Charles A. Casalinova
|
53
|
Senior Vice President and Chief Financial Officer
|
||
Tom J. Fatjo, III
|
47
|
Senior Vice President — Finance and Secretary
|
·
|
has sole authority to appoint, compensate, retain, evaluate and terminate our independent auditors;
|
·
|
has sole authority to review and approve in advance all audit and permissible non-audit engagement fees, scope and terms with our independent auditors;
|
·
|
will review with members of management and discuss with our independent auditors the annual audited financial statements to be included in our annual reports on Form 10-K (including our disclosures under MD&A) prior to the filing of each annual report on Form 10-K;
|
·
|
will review with members of management and discuss with our independent auditors the quarterly financial statements to be included in our quarterly reports on Form 10-Q prior to the filing of each quarterly report on Form 10-Q;
|
·
|
review and approve all related party transactions between us and any executive officer or director for potential conflict of interest situations;
|
·
|
will monitor the compliance of our officers, directors and employees with our code of business conduct and ethics;
|
·
|
will discuss periodically with members of management and our independent auditors the adequacy and effectiveness of our disclosure controls and procedures, including applicable internal controls and procedures for financial reporting and changes in internal controls designed to address any significant deficiencies in the design or operation of internal controls or material weaknesses therein and any fraud involving management or other employees that are reported to the committee;
|
·
|
will establish and maintain procedures for (i) the receipt, retention and treatment of complaints received by us regarding accounting, internal accounting controls and auditing matters and (ii) the confidential, anonymous submission by our employees of concerns regarding questionable accounting or auditing matters; and
|
·
|
will prepare the Audit Committee Report included elsewhere in this statement.
|
Name
|
Fees
Earned or
Paid in
Cash
($)(1)
|
Stock
Awards
($) (2)
|
Total
($)
|
|||
Richard E. Bean
|
127,000
|
52,500
|
179,500
|
|||
Ryan Berry
|
91,500
|
52,500 (3)
|
144,000
|
|||
Daniel J. Clark
|
92,000
|
52,500
|
144,500
|
|||
Preston Moore, Jr.
|
96,000
|
52,500
|
148,500
|
|||
Roger A. Ramsey
|
97,000
|
52,500
|
149,500
|
|||
Jeffrey S. Serota
|
90,000
|
52,500 (3)
|
142,500
|
|||
John V. Singleton
|
93,500
|
52,500
|
146,000
|
(1)
|
The annual grants of restricted stock which have been made in prior years to the Company’s non-employee directors for their annual board service immediately following the Company’s annual meeting of stockholders were not made in 2011 since no annual meeting was held. On December 6, 2011, the Company’s Board of Directors elected to pay each of the non-employees directors for their 2011 board service a cash amount of $60,000, in lieu of a restricted stock award. Such amounts were paid to the non-employee directors on January 31, 2012.
|
(2)
|
This column represents the dollar amount recognized for financial statement reporting purposes with respect to shares of restricted stock granted pursuant to the Fourth Amended and Restated 2004 WCA Waste Corporation Incentive Plan (the “Incentive Plan”), as determined pursuant to accounting standards related to stock-based compensation. The aggregate grant date fair value is computed by multiplying the closing market price of our Common Stock on the grant date by the number of restricted shares granted. See Note 9 to the consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2011, filed with the SEC on March 15, 2012, for further discussion on the recognition of stock-based compensation.
|
(3)
|
These shares are held by Messrs. Berry and Serota for the benefit of Ares Management LLC (“Ares Management”) and the other Ares Entities. Messrs. Berry and Serota are associated with Ares Management LLC and the other Ares Entities. Pursuant to the policies of the Ares Entities, each of Messrs. Berry and Serota holds these securities as a nominee for the sole benefit of the Ares Entities and has assigned all economic, pecuniary and voting rights in respect of such securities to Ares Management. Messrs. Berry and Serota each disclaim beneficial ownership of these shares.
|
Annual
Retainer
|
Annual Fee for Audit Committee
Chairperson
|
Annual Fee for Compensation Committee
Chairperson
|
Board Attendance Fee
(in
person)
|
Board Attendance Fee
(telephonic)
|
Committee Attendance Fee
(in
person)
|
Committee Attendance Fee
(telephonic)
|
||||||
$25,000
|
$15,000
|
$15,000
|
$1,000
|
$500
|
$500
|
$250
|
Name and Principal Position
|
Year
|
Salary
($)
|
Stock Awards
($)
(1)(3)
|
Non-Equity Incentive Plan Compensation
($)
(2)
|
All Other Compensation
($)
(4)
|
Total
($)
|
||||||
Tom J. Fatjo, Jr.,
Chairman of the Board and Chief Executive Officer
|
2011
2010
2009
|
645,000
633,000
395,430
|
356,654
343,134
345,183
|
153,188
—
449,703
|
209,181
117,304
79,786
|
1,364,023
1,093,438
1,270,102
|
||||||
Jerome M. Kruszka,
President and Chief Operating Officer
|
2011
2010
2009
|
645,000
633,000
395,430
|
363,382
343,134
345,183
|
153,188
23,738
449,703
|
96,756
28,116
6,529
|
1,258,326
1,027,988
1,196,845
|
||||||
Charles A. Casalinova,
Senior Vice President and Chief Financial Officer
|
2011
2010
2009
|
484,000
475,000
296,599
|
273,975
249,148
250,801
|
114,950
29,688
337,307
|
49,139
14,504
35,323
|
922,064
768,340
920,030
|
||||||
Tom J. Fatjo, III,
Senior Vice President—Finance and Secretary
|
2011
2010
2009
|
484,000
475,000
296,599
|
272,090
236,714
224,953
|
114,950
29,688
337,307
|
26,708
13,129
27,788
|
897,748
754,531
886,647
|
(1)
|
This column represents the dollar amount recognized for financial statement reporting purposes in fiscal 2011, 2010 and 2009, respectively, with respect to shares of restricted Common Stock granted pursuant to the Company Stock Plan, as determined pursuant to accounting standards related to stock-based compensation. T
he aggregate grant date fair value is computed by multiplying the closing market price of our Common Stock on the grant date by the number of restricted shares granted.
See Note 9 to the consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2011, filed with the SEC on March 15, 2012, for further discussion on the recognition of stock-based compensation. For more information on these awards, see the Grants of Plan-Based Awards table below.
|
(2)
|
This column represents cash payments made under the 2007 Management Incentive Plan (the “MIP”).
|
(3)
|
Amounts shown in this column include both (i) restricted stock grants made pursuant to the terms of each of the NEOs’ employment agreements which are awarded annually in an amount equal to their respective NEO’s annual salary divided by the average closing price of our Common Stock for the last 10 days ending on January 31
st
of the grant year and (ii) MIP awards made in the form of restricted stock; however, the amounts shown for 2011 do not reflect that portion of awards granted pursuant to the MIP that were made in the form of restricted Common Stock in January 2012 with respect to the achievement of performance goals in 2011. All restricted shares reflected in this column vest over three years and are subject to forfeiture under certain circumstances.
|
Named Executive Officer
|
Grant Date
|
Stock Awards:
Number of Shares of Stock
(#)
|
Grant Date Fair Value
of Stock Awards
($) (
*
)
|
|||
Tom J. Fatjo, Jr.
|
1/31/2012
|
23,567
|
153,186
|
|||
Jerome M. Kruszka
|
1/31/2012
|
23,567
|
153,186
|
|||
Charles A. Casalinova
|
1/31/2012
|
17,684
|
114,946
|
|||
Tom J. Fatjo, III
|
1/31/2012
|
17,684
|
114,946
|
*
|
Based on $6.50 per share, the per share consideration price to be paid in our proposed acquisition by an affiliate of Macquarie Capital.
|
(4)
|
The 2011 amounts reported for each of the named executive officers in “All Other Compensation” are show below (in dollars):
|
Named Executive Officer
|
401(k) Matching
Contributions
($) (1)
|
Health Insurance
Premiums
($)
|
Personal Use of
Company Aircraft
($) (2)
|
|||
Tom J. Fatjo, Jr.
|
5,500
|
9,916
|
193,765
|
|||
Jerome M. Kruszka
|
5,500
|
2,739
|
88,517
|
|||
Charles A. Casalinova
|
5,500
|
9,916
|
33,723
|
|||
Tom J. Fatjo, III
|
4,125
|
9,916
|
12,667
|
(1)
|
We sponsor a 401(k) Profit Sharing Plan for its eligible employees including the NEOs. Under this plan, eligible employees are permitted to make salary deferrals of amounts up to the Internal Revenue Service limitation. Salary deferrals will be matched 25% by us, subject to IRS limitations, and employees are 100% vested in these matching contributions after three years of service with us. Salary deferrals are 100% vested at all times.
|
(2)
|
We calculate the amount of the personal aircraft usage perquisite based on our incremental cost. The calculation is based on the cost of fuel, trip-related maintenance, crew travel expenses, on-board catering, landing fees, trip-related hangar and parking costs, and other variable costs. Under applicable Internal Revenue Service regulations, we impute income to the NEOs for their personal aircraft usage based upon the Standard Industry Fare Level (SIFL) rates set by the U.S. Department of Transportation. The amount of imputed income for each NEO, based on the SIFL rates, may not exceed annual limits established by our Board of Directors. The imputed income to each of the NEOs for the personal aircraft usage in 2011 was as follows (with the maximum amounts established by the Board of Directors indicated in parentheses): $31,702 ($50,000 limit) for Mr. Fatjo, Jr., $16,566 ($50,000 limit) for Mr. Kruszka, $6,736 ($35,000 limit) for Mr. Casalinova and $6,648 ($35,000 limit) for Mr. Fatjo, III.
|
Named Executive Officer
|
Grant Date
|
All Other Stock Awards:
Number of Shares of Stock
(#) (1)
|
Grant Date Fair Value
of Stock and Option Awards
($) (2)
|
|||
Tom J. Fatjo, Jr.
|
2/10/2011
|
80,700
|
403,500
|
|||
Jerome M. Kruszka
|
2/10/2011
|
80,700
|
403,500
|
|||
Charles A. Casalinova
|
2/10/2011
|
60,530
|
302,650
|
|||
Tom J. Fatjo, III
|
2/10/2011
|
60,530
|
302,650
|
(1)
|
The number of shares of restricted Common Stock was computed by dividing the NEO’s base salary for 2009 by the average closing price of $4.90 of our Common Stock for the 10 trading days ending on January 31, 2011.
|
(2)
|
Based on the market value on the date of grant of $5.00 per share.
|
Named Executive Officer
|
Grant Date
|
All Other Stock Awards:
Number of Shares of Stock
(#) (1)
|
Grant Date Fair Value
of Stock and Option Awards
($) (2)
|
|||
Jerome M. Kruszka
|
2/10/2011
|
4,844
|
24,220
|
|||
Charles A. Casalinova
|
2/10/2011
|
6,059
|
30,295
|
|||
Tom J. Fatjo, III
|
2/10/2011
|
6,059
|
30,295
|
(1)
|
The number of shares of restricted Common Stock was computed by dividing 50% of the incentive compensation amount earned under the MIP by each of the NEOs in 2010 by the average closing price of $4.90 of our Common Stock for the 10 trading days ending on January 31, 2011.
|
(2)
|
Based on the market value on the date of grant of $5.00 per share.
|
·
|
Term of Each Employment Agreement
. The employment agreement for each of the NEOs provides for a term of three years commencing on the effective date plus any extensions (the “Term”). On the first day of each calendar month, the Term is automatically extended for an additional calendar month unless WCA Management or the NEO gives notice not to extend the Term. The agreements terminate on the earlier of (i) the last day of the Term (as extended), (ii) the NEO’s death, (iii) notice that the NEO is “permanently disabled” (as defined in the employment agreements), (iv) WCA Management’s termination of the NEO’s employment for “cause” (as defined in the employment agreements) or (v) the NEO’s termination of his employment for “good reason” (as defined in the employment agreements).
|
·
|
Compensation.
The employment agreements provide for the following base salaries for the NEOs for 2011 and 2012:
|
Named Executive Officer
|
2011 Base Salary
($)
|
2012 Base Salary
($)
|
||
Tom J. Fatjo, Jr.
|
645,000
|
664,350
|
||
Jerome M. Kruszka
|
645,000
|
664,350
|
||
Charles A. Casalinova
|
484,000
|
498,520
|
||
Tom J. Fatjo, III
|
484,000
|
498,520
|
·
|
Participation
in
Compensation Plans
. Each NEO and various other key officers are eligible to participate in the following plans:
|
·
|
2007 Management Incentive Plan
. Pursuant to the MIP, each participant, including the NEOs, has the opportunity to earn an annual bonus based on performance measures and annual incentive plan goals, which are established by the Compensation Committee. The opportunity to earn a bonus under the MIP is expressed as a percentage of base salary and is set each year for each NEO separately. For 2011 and 2012, the maximum percentage of base salary for each NEO is 50%, which amount was reduced from 200% of each NEO’s annual base salary under the 2010 amendment and restatement of their respective employment agreements. Awards under the MIP are paid one-half in cash and one-half in restricted shares of our Common Stock.
|
·
|
For 2011, the Compensation Committee and the Board of Directors established seven performance criteria for potential 2011 awards to the NEOs under the MIP. The 2011 performance criteria were as follows: (1) an EBITDA goal, (2) a net income goal, (3) a targeted acquisition goal, (4) a goal related to refinancing our $150 million of senior notes due 2014, (5) a recapitalization goal, (6) tiered goals relating to our leverage ratio, and (7) an analyst coverage goal. The percentage amount of each performance criteria that was allocated to the total potential MIP award for each NEO in 2011 was determined by the Compensation Committee based upon the functional duties and responsibilities of each of the NEOs. Each of the seven 2011 performance criteria were applicable to all four NEOs; however, the percentage amount allocable to each was determined based upon their respective duties and responsibilities. For 2011, the Compensation Committee determined that, based on the proposed merger between us, Cod Merger Company, Inc. and Cod Intermediate, LLC (the “Merger”) and the performance of the Company through September 30, 2011, all of the performance goals, except for net income, had been met.
Based on the achievement of such performance criteria, the NEOs earned MIP awards for 2011 equal to the following percentage amounts of their respective 2011 annual salaries: Mr. Fatjo, Jr., 47.5%; Mr. Kruszka, 47.5%; Mr. Casalinova, 47.5%; and Mr. Fatjo, III, 47.5%.
|
·
|
In light of the pending proposed Merger, the Compensation Committee has elected not to establish specific performance criteria for 2012. Other than change in control payments to be made to the NEOs in connection with the Merger, no MIP awards are anticipated to be made to the NEOs for 2012 performance. In the event that the Merger does not close, the Compensation Committee will determine the appropriate performance criteria for the remainder of 2012.
|
·
|
Restricted Stock Grants
. Under the terms of their respective employment agreements, the NEOs receive annual grants of restricted Common Stock under the Company Stock Plan, with such grants being made in January of each year. Commencing in 2010, annual awards of restricted Common Stock awarded to the NEOs pursuant to their employment agreements, as amended on May 18, 2010, are determined by dividing the NEO's annual base salary for 2009 by the average closing price of our Common Stock, as quoted on The NASDAQ Stock Market, for the last ten (10) trading days that ends on January 31st of the grant year (the “Restricted Stock Fair Market Value Amount”). This amount for the 2011 restricted stock grants was $4.90. For periods commencing on January 1, 2011 and annually thereafter, the annual base salary amount to be used to determine the amount of restricted Common Stock to be awarded to each NEO are determined by the Compensation Committee in consultation with the NEOs; provided, however, that such amount may not be less than the NEO’s 2009 base salary. The 2009 annual base salary amounts were used in determining the restricted stock awards for both 2011 and 2012. The 2009 annual base salary amounts and the $6.50 per share Merger consideration were used in determining the restricted stock awards for 2012.
|
·
|
Other Plans
. The NEOs and, to the extent applicable, the NEOs’ family, dependents and beneficiaries, may participate in the benefit or similar plans, policies or programs provided to similarly situated employees under our standard employment practices as in effect from time to time.
|
·
|
Termination and Change in Control Payments.
The employment agreements provide for the following termination payments:
|
·
|
Upon termination for any reason whatsoever, an NEO (or in case of death, his estate) is entitled to all salary and expense reimbursements due through the date of such termination and such benefits as are available pursuant to the terms of any benefit or similar plans, policies or programs in which he was participating at the time of such termination.
|
·
|
Upon termination for death or permanent disability (as defined in the employment agreement), in lieu of any further salary, bonus payments, or other severance, an NEO (or his estate, as applicable) will be entitled to a lump-sum cash severance payment equal to the amount of his base salary (computed at the rate then in effect) for the remaining Term of the employment agreement.
|
·
|
Upon termination of an NEO for any reason other than death, permanent disability or cause (as defined in the employment agreement), or if the NEO terminates his employment for good reason (as defined in the employment agreement), he will be entitled to continued salary payments throughout the balance of the Term, to continue coverage under any annual and long-term incentive plans, and to other benefits pursuant to the employment agreement. If WCA Management pays this salary and benefits for the Term of the employment agreement, the NEO will be subject to non-competition and confidentiality covenants through that full Term.
|
·
|
Upon a Change in Control (as defined below) or within 24 months thereafter, an NEO (and certain other key officers) will be entitled to certain change of control payments if (a) his employment is involuntarily terminated other than for cause, (b) his reporting level is significantly reduced (as determined by the officer in good faith), (c) his base salary and annual incentive compensation is reduced by 10% or more, or (d) he is required to relocate by more than 50 miles. If triggered, the Change in Control payments to an NEO (or other key officers) will be made in a lump sum cash payment equal to (1) three times the sum of (i) his base salary and (ii) his average annual bonus pursuant to any annual bonus plan in effect as to any of the three consecutive calendar years ending immediately before the calendar year in which the last event triggering the right to the payment occurred, and (2) any benefit that may be payable under the Incentive Plan or the MIP based on performance achieved as of the date on which the NEO’s employment with the Company terminates following a Change in Control. Additionally, if an NEO’s employment is terminated within 24 months of a Change in Control, he is also entitled to receive such benefits as may be available under any benefit or similar plans, policies or programs in which the NEO was participating at the time of termination of his employment. “Change in Control” is defined to mean any one of the following events:
|
|
(i)
|
a change in the ownership of WCA Waste Corporation, a change in the effective control of a company or a change in the ownership of a substantial portion of the assets of a corporation, as specifically provided in Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), which includes if one person or more persons acting as a group acquires ownership of more than fifty percent (50%) of the total fair market value or voting power of our stock;
|
|
(i)
|
one person, or more than one person acting as a group, acquires (or has acquired during the twelve (12) month period ending on the date of the most recent acquisition by such person or persons) ownership of our stock; or
|
|
(iii)
|
a majority of members of our Board of Directors is replaced during any twelve (12) month period by directors whose appointment or election is not endorsed by a majority of the Board of Directors before the date of the appointment or election.
|
·
|
Any payment to be made to the respective NEOs resulting from his “separation from service,” as defined in Section 409A of the Code, will be delayed for six months following such separation from service.
|
·
|
Gross-Up Payments for Excise Taxes
. If payments to be made to NEOs or other key officers (whether under the employment agreements or any other agreement or plan) are subject to state or federal excise taxes (and any interest or penalties with respect to such taxes), such officers will be entitled to additional payments so that the net amount after payment of the excise tax (and any such interest or penalties) will equal the total payments they are entitled to receive under their employment agreements. However, if no excise tax would be payable if the total payments were reduced by 3% or less, then the aggregate payments shall be reduced by the amount necessary to avoid application of the excise tax.
|
·
|
Other provisions
. The employment agreements with the NEOs (and other key officers) also contain other provisions, including provisions to prevent duplication of benefits to waive any requirement that an officer seek other employment, to prevent any reduction in payments because of compensation earned from other employers, and to waive any offset rights by WCA Waste. The employment agreements also subject each NEO and other key officers to certain non-compete and confidentiality covenants during the Term of the employment agreements.
|
Option Awards
|
Stock Awards
|
|||||||||||||||||
Name
|
Number of Securities Underlying Unexercised Options
(#)
Exercisable
|
Number of Securities Underlying Unexercised Options
(#)
Unexercisable
|
Equity Incentive Plan Awards: Number of Securities Underlying Unexercised Unearned Options
(#)
|
Option Exercise Price
($)
|
Option Expiration Date
|
Number of Shares or Units of Stock That Have Not Vested
(#)
|
Market Value of Shares or Units of Stock That Have Not Vested
($) (1)
|
Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested
(#)
|
Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested
($)
|
|||||||||
Tom J. Fatjo, Jr.
|
100,000
|
—
|
—
|
9.50
|
6/22/2014
|
—
|
—
|
—
|
—
|
|||||||||
—
|
—
|
—
|
—
|
—
|
13,875 (2)
|
90,326
|
—
|
—
|
||||||||||
—
|
—
|
—
|
—
|
—
|
4,336 (3)
|
28,227
|
—
|
—
|
||||||||||
—
|
—
|
—
|
—
|
—
|
27,749 (4)
|
180,646
|
—
|
—
|
||||||||||
—
|
—
|
—
|
—
|
—
|
14,909 (5)
|
97,058
|
—
|
—
|
||||||||||
—
|
—
|
—
|
—
|
—
|
36,864 (6)
|
239,985
|
—
|
—
|
||||||||||
—
|
—
|
—
|
—
|
—
|
80,700 (7)
|
525,357
|
—
|
—
|
||||||||||
—
|
—
|
—
|
—
|
—
|
— (8)
|
—
|
—
|
—
|
||||||||||
Jerome M. Kruszka
|
100,000
|
—
|
—
|
9.50
|
6/22/2014
|
—
|
—
|
—
|
—
|
|||||||||
—
|
—
|
—
|
—
|
—
|
13,875 (2)
|
90,326
|
—
|
—
|
||||||||||
—
|
—
|
—
|
—
|
—
|
4,336 (3)
|
28,227
|
—
|
—
|
||||||||||
—
|
—
|
—
|
—
|
—
|
27,749 (4)
|
180,646
|
—
|
—
|
||||||||||
—
|
—
|
—
|
—
|
—
|
14,909 (5)
|
97,058
|
—
|
—
|
||||||||||
—
|
—
|
—
|
—
|
—
|
36,864 (6)
|
239,985
|
—
|
—
|
||||||||||
—
|
—
|
—
|
—
|
—
|
80,700 (7)
|
525,357
|
—
|
—
|
||||||||||
—
|
—
|
—
|
—
|
—
|
4,844 (8)
|
31,534
|
—
|
—
|
||||||||||
Charles A. Casalinova
|
75,000
|
—
|
—
|
9.50
|
6/22/2014
|
—
|
—
|
—
|
—
|
|||||||||
—
|
—
|
—
|
—
|
—
|
10,408 (2)
|
67,756
|
—
|
—
|
||||||||||
—
|
—
|
—
|
—
|
—
|
2,927 (3)
|
19,055
|
—
|
—
|
||||||||||
—
|
—
|
—
|
—
|
—
|
20,813 (4)
|
135,493
|
—
|
—
|
||||||||||
—
|
—
|
—
|
—
|
—
|
11,182 (5)
|
72,795
|
—
|
—
|
||||||||||
—
|
—
|
—
|
—
|
—
|
27,651 (6)
|
180,008
|
—
|
—
|
||||||||||
—
|
—
|
—
|
—
|
—
|
60,530 (7)
|
394,050
|
—
|
—
|
||||||||||
—
|
—
|
—
|
—
|
—
|
6,059 (8)
|
39,444
|
—
|
—
|
||||||||||
Tom J. Fatjo, III
|
65,000
|
—
|
—
|
9.50
|
6/22/2014
|
—
|
—
|
—
|
—
|
|||||||||
—
|
—
|
—
|
—
|
—
|
10,408 (2)
|
67,756
|
—
|
—
|
||||||||||
—
|
—
|
—
|
—
|
—
|
2,927 (3)
|
19,055
|
—
|
—
|
||||||||||
—
|
—
|
—
|
—
|
—
|
20,813 (4)
|
135,493
|
—
|
—
|
||||||||||
—
|
—
|
—
|
—
|
—
|
11,182 (5)
|
72,795
|
—
|
—
|
||||||||||
—
|
—
|
—
|
—
|
—
|
27,651 (6)
|
180,008
|
—
|
—
|
||||||||||
—
|
—
|
—
|
—
|
—
|
60,530 (7)
|
394,050
|
—
|
—
|
||||||||||
—
|
—
|
—
|
—
|
—
|
6,059 (8)
|
39,444
|
—
|
—
|
(1)
|
Determined by multiplying the closing market price of our Common Stock as of December 30, 2011 ($6.51) by the number of shares in the prior column.
|
(2)
|
These restricted stock awards were granted on January 8, 2009 under the terms of the NEOs’ respective employment agreements and the Incentive Plan. The first one-third increment of these restricted stock awards vested on January 8, 2010 and the remaining restricted stock awards vest as follows:
|
Named Executive Officer
|
1/8/2012
|
|
Mr. Fatjo, Jr.
|
13,875
|
|
Mr. Kruszka
|
13,875
|
|
Mr. Casalinova
|
10,408
|
|
Mr. Fatjo, III
|
10,408
|
(3)
|
These restricted stock awards were granted on February 25, 2009 in payment of the incentive compensation earned for 2008 be each of the NEOs under the MIP. The first one-third increment of these restricted stock awards vested on February 25, 2010 and the remaining restricted stock awards vest as follows:
|
Named Executive Officer
|
2/25/2012
|
|
Mr. Fatjo, Jr.
|
4,336
|
|
Mr. Kruszka
|
4,336
|
|
Mr. Casalinova
|
2,927
|
|
Mr. Fatjo, III
|
2,927
|
(4)
|
These restricted stock awards were granted on January 8, 2010 under the terms of the NEOs’ respective employment agreements and the Incentive Plan. The first one-third increment of these restricted stock awards vested on January 8, 2011 and the remaining restricted stock awards vest as follows:
|
Named Executive Officer
|
1/8/2012
|
1/8/2013
|
||
Mr. Fatjo, Jr.
|
13,875
|
13,874
|
||
Mr. Kruszka
|
13,875
|
13,874
|
||
Mr. Casalinova
|
10,407
|
10,406
|
||
Mr. Fatjo, III
|
10,407
|
10,406
|
(5)
|
These restricted stock awards were granted on February 12, 2010 in payment of the incentive compensation earned for 2009 be each of the NEOs under the MIP. The first one-third increment of these restricted stock awards vested on February 12, 2011 and the remaining restricted stock awards vest as follows:
|
Named Executive Officer
|
2/12/2012
|
2/12/2013
|
||
Mr. Fatjo, Jr.
|
7,454
|
7,455
|
||
Mr. Kruszka
|
7,454
|
7,455
|
||
Mr. Casalinova
|
5,591
|
5,591
|
||
Mr. Fatjo, III
|
5,591
|
5,591
|
(6)
|
These restricted stock awards were granted on September 28, 2010 under the terms of the NEOs’ respective employment agreements and the Incentive Plan. The first one-third increment of these restricted stock awards vested on September 28, 2011 and the remaining restricted stock awards vest as follows:
|
Named Executive Officer
|
9/28/2012
|
9/28/2013
|
||
Mr. Fatjo, Jr.
|
18,432
|
18,432
|
||
Mr. Kruszka
|
18,432
|
18,432
|
||
Mr. Casalinova
|
13,825
|
13,826
|
||
Mr. Fatjo, III
|
13,825
|
13,826
|
(7)
|
These restricted stock awards were granted on February 10, 2011 under the terms of the NEOs’ respective employment agreements and the Incentive Plan and vest as follows:
|
Named Executive Officer
|
2/10/2012
|
2/10/2013
|
2/10/2014
|
|||
Mr. Fatjo, Jr.
|
26,900
|
26,900
|
26,900
|
|||
Mr. Kruszka
|
26,900
|
26,900
|
26,900
|
|||
Mr. Casalinova
|
20,177
|
20,177
|
20,176
|
|||
Mr. Fatjo, III
|
20,177
|
20,177
|
20,176
|
(8)
|
These restricted stock awards were granted on February 10, 2011 in payment of the incentive compensation earned for 2010 by each of the NEOs under the MIP and vest as follows:
|
Named Executive Officer
|
2/10/2012
|
2/10/2013
|
2/10/2014
|
|||
Mr. Kruszka
|
1,615
|
1,615
|
1,614
|
|||
Mr. Casalinova
|
2,020
|
2,020
|
2,019
|
|||
Mr. Fatjo, III
|
2,020
|
2,020
|
2,019
|
Named Executive Officer
|
Stock Awards
|
|||
Number of Shares
Acquired on Vesting
|
Value Realized on
Vesting
($) (1)
|
|||
Tom J. Fatjo, Jr.
|
85,384
|
411,081
|
||
Jerome M. Kruszka
|
85,384
|
411,081
|
||
Charles A. Casalinova
|
62,702
|
301,729
|
||
Tom J. Fatjo, III
|
61,176
|
294,297
|
·
|
we terminate his employment as a result of his death;
|
·
|
we terminate his employment as a result of his permanent disability;
|
·
|
we terminate his employment for cause;
|
·
|
the NEO terminates his employment for good reason; and
|
·
|
the NEO involuntarily terminates for any reason other than cause within 24 months following a Change in Control.
|
Scenario
|
Cash
Severance
($)
|
Tax Gross-Ups
($)
|
Value of Equity Awards Received
or to be Received
($)
|
|||
Death or Permanent Disability
|
1,935,000 (1)
|
—
|
—
|
|||
Termination for cause
|
—
|
—
|
—
|
|||
Termination for good reason by Mr. Fatjo Jr. or without cause by WCA Waste Corporation
|
2,464,998 (2)
|
—
|
1,734,188 (3)
|
|||
Involuntary Termination other than for cause within 24 months of a change in control
|
3,994,664 (4)
|
—
|
1,315,020 (5)
|
(1)
|
This amount represents three times the 2011 base salary for Mr. Fatjo.
|
(2)
|
This amount represents three times the sum of (a) Mr. Fatjo’s annual base salary for 2011; (b) the maximum award for which Mr. Fatjo was eligible in 2011 under the MIP in accordance with the terms of his employment agreement; (c) matching 401(k) contribution made to his account for 2011; and (d) the health insurance premiums made for Mr. Fatjo’s benefit in 2011.
|
(3)
|
This amount represents the sum of the amount of accelerated unvested restricted stock currently owned plus any grants of restricted stock to be vested during the remaining three year term of the employment agreement based on the closing price of our Common Stock on December 30, 2011 ($6.51).
|
(4)
|
This amount represents the sum of (a) three times the sum of Mr. Fatjo’s base salary ($645,000), average annual bonus over the prior three calendar years ($322,841), life insurance premium reimbursement ($37,031) and COBRA premium reimbursement ($12,000), (b) a calculated expected value based on vested amounts of restricted stock that would have been awarded to Mr. Fatjo for the remaining term of his employment agreement but for the occurrence of the Change in Control (the “CIC Restricted Stock Award”), and (c) the cash portion of the MIP award earned by Mr. Fatjo for performance achieved in 2011 but which has not been paid. Restricted Stock Awards are awarded annually to Mr. Fatjo equal currently to his 2009 annual base salary divided by the fair market value of Company’s Common Stock determined as of the date of award. The CIC Restricted Stock Award has been included to reflect the maximum amount of cash severance that could be paid to Mr. Fatjo in the event of his termination following a Change in Control. The CIC Restricted Stock Award Amount was computed by multiplying Mr. Fatjo’s annual base salary for 2009 of $395,430 by the cash equivalent amount of restricted stock that would have been awarded and vested over the remaining three-year term of his employment agreement.
|
(5)
|
This amount represents 178,433 shares of unvested restricted stock held by Mr. Fatjo as of December 31, 2011 and 23,567 shares of the MIP award earned by Mr. Fatjo for performance achieved in 2011 but which has not been paid in restricted shares of our Common Stock. The value of accelerated unvested restricted stock was calculated by multiplying 202,000
shares underlying Mr. Fatjo’s unvested restricted stock by $6.51 (our closing price per share on December 30, 2011).
|
Scenario
|
Cash
Severance
($)
|
Tax Gross-Ups
($)
|
Value of Equity Awards Received
or to be Received
($)
|
|||
Death or Permanent Disability
|
1,935,000 (1)
|
—
|
—
|
|||
Termination for cause
|
—
|
—
|
—
|
|||
Termination for good reason by Mr. Kruszka or without cause by WCA Waste Corporation
|
2,443,467 (2)
|
—
|
1,765,722 (3)
|
|||
Involuntary Termination other than for cause within 24 months of a change in control
|
3,972,506 (4)
|
—
|
1,346,554 (5)
|
(1)
|
This amount represents three times the 2011 base salary for Mr. Kruszka.
|
(2)
|
This amount represents three times the sum of (a) Mr. Kruszka’s annual base salary for 2011; (b) the maximum award for which Mr. Kruszka was eligible in 2011 under the MIP in accordance with the terms of his employment agreement; (c) matching 401(k) contribution made to his account for 2011; and (d) the health insurance premiums made for Mr. Kruszka’s benefit in 2011.
|
(3)
|
This amount represents the sum of the amount of accelerated unvested restricted stock currently owned plus any grants of restricted stock to be vested during the remaining three year term of the employment agreement based on the closing price of our Common Stock on December 30, 2011 ($6.51).
|
(4)
|
This amount represents the sum of (a) three times the sum of Mr. Kruszka’s base salary ($645,000) and average annual bonus over the prior three calendar years ($338,666), life insurance premium reimbursement ($13,820) and COBRA premium reimbursement ($12,000), (b) a calculated expected value based on vested amounts of restricted stock that would have been awarded to Mr. Kruszka for the remaining term of his employment agreement but for the occurrence of the Change in Control (the “CIC Restricted Stock Award”), and (c) the cash portion of the MIP award earned by Mr. Kruszka for performance achieved in 2011 but which has not been paid. Restricted Stock Awards are awarded annually to Mr. Kruszka equal currently to his 2009 annual base salary divided by the fair market value of Company’s Common Stock determined as of the date of award. The CIC Restricted Stock Award has been included to reflect the maximum amount of cash severance that could be paid to Mr. Kruszka in the event of his termination following a Change in Control. The CIC Restricted Stock Award Amount was computed by multiplying Mr. Kruszka’s annual base salary for 2009 of $395,430 by the cash equivalent amount of restricted stock that would have been awarded and vested over the remaining three-year term of his employment agreement.
|
(5)
|
This amount represents 183,277 shares of unvested restricted stock held by Mr. Kruszka as of December 31, 2011 and 23,567 shares of the MIP award earned by Mr. Kruszka for performance achieved in 2011 but which has not been paid in restricted shares of our Common Stock. The value of accelerated unvested restricted stock and restricted stock portion of the MIP award earned in 2011 was calculated by multiplying 206,844
shares underlying Mr. Kruszka’s unvested restricted stock by $6.51 (our closing price per share on December 30, 2011).
|
Scenario
|
Cash
Severance
($)
|
Tax Gross-Ups
($)
|
Value of Equity Awards Received
or to be Received
($)
|
|||
Death or Permanent Disability
|
1,452,000 (1)
|
—
|
—
|
|||
Termination for cause
|
—
|
—
|
—
|
|||
Termination for good reason by Mr. Casalinova or without cause by WCA Waste Corporation
|
1,861,248 (2)
|
—
|
1,338,135 (3)
|
|||
Involuntary Termination other than for cause within 24 months of a change in control
|
2,991,372 (4)
|
—
|
1,023,724 (5)
|
(1)
|
This amount represents three times the 2011 base salary for Mr. Casalinova.
|
(2)
|
This amount represents three times the sum of (a) Mr. Casalinova’s annual base salary for 2011; (b) the maximum award for which Mr. Casalinova was eligible in 2011 under the MIP in accordance with the terms of his employment agreement; (c) matching 401(k) contribution made to his account for 2011; and (d) the health insurance premiums made for Mr. Casalinova’s benefit in 2011.
|
(3)
|
This amount represents the sum of the amount of accelerated unvested restricted stock currently owned plus any grants of restricted stock to be vested during the remaining three year term of the employment agreement based on the closing price of our Common Stock on December 30, 2011 ($6.51).
|
(4)
|
This amount represents the sum of (a) three times the sum of Mr. Casalinova’s base salary ($484,000) and average annual bonus over the prior three calendar years ($261,977), life insurance premium reimbursement ($3,098) and COBRA premium reimbursement ($12,000), (b) a calculated expected value based on vested amounts of restricted stock that would have been awarded to Mr. Casalinova for the remaining term of his employment agreement but for the occurrence of the Change in Control (the “CIC Restricted Stock Award”), and (c) the cash portion of the MIP award earned by Mr. Casalinova for performance achieved in 2011 but which has not been paid. Restricted Stock Awards are awarded annually to Mr. Casalinova equal currently to his 2009 annual base salary divided by the fair market value of Company’s Common Stock determined as of the date of award. The CIC Restricted Stock Award has been included to reflect the maximum amount of cash severance that could be paid to Mr. Casalinova in the event of his termination following a Change in Control. The CIC Restricted Stock Award Amount was computed by multiplying Mr. Casalinova’s annual base salary for 2009 of $296,599 by the cash equivalent amount of restricted stock that would have been awarded and vested over the remaining three-year term of his employment agreement.
|
(5)
|
This amount represents 139,570 shares of unvested restricted stock held by Mr. Casalinova as of December 31, 2011 and 17,684 shares of the MIP award earned by Mr. Casalinova for performance achieved in 2011 but which has not been paid in restricted shares of our Common Stock. The value of accelerated unvested restricted stock and restricted stock portion of the MIP award earned in 2011 was calculated by multiplying 157,254 shares underlying Mr. Casalinova’s unvested restricted stock by $6.51 (our closing price per share on December 30, 2011).
|
Scenario
|
Cash
Severance
($)
|
Tax Gross-Ups
($)
|
Value of Equity Awards Received
or to be Received
($)
|
|||
Death or Permanent Disability
|
1,452,000 (1)
|
—
|
—
|
|||
Termination for cause
|
—
|
—
|
—
|
|||
Termination for good reason by Mr. Fatjo, III or without cause by WCA Waste Corporation
|
1,857,123 (2)
|
—
|
1,338,135 (3)
|
|||
Involuntary Termination other than for cause within 24 months of a change in control
|
2,991,645 (4)
|
—
|
1,023,724 (5)
|
(1)
|
This amount represents three times the 2011 base salary for Mr. Fatjo, III.
|
(2)
|
This amount represents three times the sum of (a) Mr. Fatjo’s annual base salary for 2011; (b) the maximum award for which Mr. Fatjo was eligible in 2011 under the MIP in accordance with the terms of his employment agreement; (c) matching 401(k) contribution made to his account for 2011; and (d) the health insurance premiums made for Mr. Fatjo’s benefit in 2011.
|
(3)
|
This amount represents the sum of the amount of accelerated unvested restricted stock currently owned plus any grants of restricted stock to be vested during the remaining three year term of the employment agreement based on the closing price of our Common Stock on December 30, 2011 ($6.51).
|
(4)
|
This amount represents the sum of (a) three times the sum of Mr. Fatjo’s base salary ($484,000) and average annual bonus over the prior three calendar years ($261,977), life insurance premium reimbursement ($3,189) and COBRA premium reimbursement ($12,000), (b) a calculated expected value based on vested amounts of restricted stock that would have been awarded to Mr. Fatjo for the remaining term of his employment agreement but for the occurrence of the Change in Control (the “CIC Restricted Stock Award”), and (c) the cash portion of the MIP award earned by Mr. Fatjo for performance achieved in 2011 but which has not been paid. Restricted Stock Awards are awarded annually to Mr. Fatjo equal currently to his 2009 annual base salary divided by the fair market value of Company’s Common Stock determined as of the date of award. The CIC Restricted Stock Award has been included to reflect the maximum amount of cash severance that could be paid to Mr. Fatjo in the event of his termination following a Change in Control. The CIC Restricted Stock Award Amount was computed by multiplying Mr. Fatjo’s annual base salary for 2009 of $296,599 by the cash equivalent amount of restricted stock that would have been awarded and vested over the remaining three-year term of his employment agreement.
|
(5)
|
This amount represents 139,570 shares of unvested restricted stock held by Mr. Fatjo as of December 31, 2011 and 17,684 shares of the MIP award earned by Mr. Fatjo for performance achieved in 2011 but which has not been paid in restricted shares of our Common Stock. The value of accelerated unvested restricted stock and restricted stock portion of the MIP award earned in 2011 was calculated by multiplying 157,254 shares underlying Mr. Fatjo’s unvested restricted stock by $6.51 (our closing price per share on December 30, 2011).
|
Name and Address of Beneficial Owner
|
Amount and Nature of Beneficial Ownership of Common
Stock
|
Percent of Class of Common
Stock
(1)
|
Amount and Nature of Beneficial Ownership of Preferred
Stock
|
Percent of Class of Preferred
Stock (1)
|
||||
Ares Corporate Opportunities Fund II, L.P. (2)
|
10,398,204 (2)
|
30.3%
|
750,000
|
100.0%
|
||||
Dimensional Fund Advisors LP (3)
|
1,430,981
|
6.0%
|
—
|
—
|
||||
EWS Holdings, LLC (4)
|
2,409,639
|
10.1%
|
—
|
—
|
||||
Joseph E. LoConti and Group Members (5)
|
||||||||
Joseph E. LoConti (5)
|
1,498,093
|
6.3%
|
—
|
—
|
||||
Daniel J. Clark (5)
|
669,977
|
2.8%
|
—
|
—
|
||||
Patricia A. Skoda, Trustee, Patricia A. Skoda Revocable Trusts (5)
|
276,702
|
1.2%
|
—
|
—
|
||||
Gabelli Funds, LLC (6)
|
1,229,612
|
5.1%
|
—
|
—
|
|
(1)
|
Other than the beneficial ownership of Common Stock by ACOF II, which percentage amount is presented on a fully-converted basis based on the adjusted stated value of the Preferred Stock as of March 15, 2012, all other beneficial ownership percentages are based on 23,915,045 shares of Common Stock and 750,000 shares of Preferred Stock outstanding as of March 15, 2012.
|
|
(2)
|
The following information is based on information provided to the Company by ACOF II and certain affiliated entities. The general partner of ACOF II is ACOF Management II, L.P. (“ACOF Management II”) and the general partner of ACOF Management II is ACOF Operating Manager II, L.P. (“ACOF Operating Manager II”). ACOF Operating Manager II is indirectly controlled by Ares Management LLC (“Ares Management”), which, in turn, is indirectly controlled by Ares Partners Management Company LLC. Each of the foregoing entities (collectively and together with Ares Management, the “Ares Entities”) and the partners, members and managers thereof, other than ACOF II, disclaims beneficial ownership of the shares of the Company’s securities owned by ACOF II, except to the extent of any pecuniary interest therein. The address of each Ares Entity is 2000 Avenue of the Stars, 12th Floor, Los Angeles, CA 90067.
|
|
|
Shares reported include 39,970, 14,706, 12,632 and 12,632 shares held of record for the benefit of the Ares Entities by Jeffrey S. Serota, Ryan Berry, Anthony P. Ressler and Jeffrey B. Schwartz, respectively. Messrs. Serota and Berry have been designated to serve on the Board of Directors by ACOF II. Mr. Ressler is associated with the Ares Entities and previously served on the Board of Directors as a director designee of ACOF II. Mr. Schwartz was previously associated with the Ares Entities and previously served on the Board of Directors as a director designee of ACOF II. Pursuant to the policies of the Ares Entities, each of Messrs. Serota, Berry, Ressler and Schwartz holds these securities as a nominee for the sole benefit of the Ares Entities and has assigned all economic, pecuniary and voting rights in respect of such securities to Ares Management. Accordingly, Messrs. Serota, Berry, Ressler and Schwartz each disclaim beneficial ownership of these shares.
|
|
(3)
|
Based on the Schedule 13G/A filed with the SEC on February 13, 2012, Dimensional Fund Advisors LP has sole voting power with respect to 1,417,120 shares of Common Stock and sole dispositive power with respect to 1,430,981 shares of Common Stock. The address for Dimensional Fund Advisors LP is 6300 Bee Caves Road, Austin, TX 78746.
|
|
(4)
|
Based on the Schedule 13G filed with the SEC on March 11, 2011. Waste Recyclers Holdings, LLC is the sole member of EWS Holdings, LLC and may be deemed to indirectly beneficially own the shares of Common Stock owned directly by EWS Holdings, LLC. The address for EWS Holdings, LLC and Waste Recyclers Holdings, LLC is 200 Park Avenue, 7th Floor, New York City, NY 10116.
|
|
(5)
|
Except with respect to Daniel J. Clark, the information in the table above and the following information is based solely on Amendment No. 5 to the Schedule 13D filed with the SEC on January 6, 2012. Joseph E. LoConti has sole voting and dispositive power with respect to 1,498,093 shares of Common Stock. Daniel J. Clark has sole voting and dispositive power with respect to 669,977 shares of Common Stock. Patricia A. Skoda, as trustee of the Patricia A. Skoda Revocable Trust, has shared voting and dispositive power with respect to 276,702 shares of Common Stock held by the trust and may be deemed to have shared voting and dispositive power over 18,889 shares of Common Stock held by Gregory J. Skoda Trust, of which Patricia J. Skoda’s husband is trustee. Mr. Clark’s beneficial ownership also includes 14,706 restricted shares of Common Stock granted to him as a non-employee director under the Company Stock Plan. We have not included in the shares beneficially owned by Daniel J. Clark and Patricia A. Skoda, Trustee 777,778 shares of Common Stock (the “Clark and Skoda Earn-Out Shares”) that may be issued to Live Earth Funding LLC upon the satisfaction of certain earn-out conditions set forth in an Equity Interest and Asset Purchase Agreement dated December 9, 2009, among WCA Waste Corporation, Live Earth LLC and certain other entities. Mr. Clark and Mrs. Skoda, as Trustee, have an ownership interest and voting discretion as members of Live Earth Funding LLC, and as such may be deemed to beneficially own the Clark and Skoda Earn-Out Shares. The address for Mr. LoConti and the other members of the group is 6140 Parkland Boulevard, Suite 300, Mayfield Heights, OH 44124.
|
|
(6)
|
Based on the Schedule D filed with the SEC on March 9, 2012, Gabelli Funds, LLC has sole voting power with respect to 531,754 shares of Common Stock, GAMCO Asset Management, Inc. has sole voting power with respect to 530,000 shares of Common Stock, and Gabelli Securities, Inc. has sole voting power with respect to 167,858 shares of Common Stock. The address for each of Gabelli Funds, LLC, GAMCO Asset Management, Inc. and Gabelli Securities, Inc. is One Corporae Center, Rye, NY 10580.
|
Name of Beneficial Owner
|
Amount and Nature of
Beneficial Ownership of
Common Stock
|
Percent of Common
Stock
(1)
|
||
Tom J. Fatjo, Jr. (2)
|
340,912
|
1.4%
|
||
Jerome M. Kruszka (3)
|
910,927
|
3.8%
|
||
Charles A. Casalinova (4)
|
538,567
|
2.3%
|
||
Tom J. Fatjo, III (5)
|
421,595
|
1.8%
|
||
Daniel J. Clark (6)
|
669,977
|
2.8%
|
||
Richard E. Bean (7)
|
165,431
|
*
|
||
Roger A. Ramsey (7)
|
70,286
|
*
|
||
Preston Moore, Jr.
|
83,336
|
*
|
||
Honorable John V. Singleton
|
39,970
|
*
|
||
Jeffrey S. Serota (8)
|
39,970
|
*
|
||
Ryan Berry (9)
|
14,706
|
*
|
||
All directors and executive officers as a group (11 persons)
|
3,295,677
|
13.8%
|
|
*
|
Represents beneficial ownership of less than 1%.
|
|
(1)
|
Percent of shares beneficially owned is based on 23,915,045 shares of Common Stock outstanding as of March 15, 2012.
|
|
(2)
|
Includes: (a) 20,000 shares owned by Tom J. Fatjo, Jr. Trust; (b) 12,296 shares owned by Jacqueline Fatjo 1998 Gift Trust; and (c) 12,296 shares owned by Channing Fatjo 1998 Gift Trust. Mr. Fatjo, Jr. is the trustee of each of these trusts, and as such, he has voting and investment power over the assets of such trusts, including shares of Common Stock. Also includes 100,000 shares underlying options currently exercisable. Mr. Fatjo, Jr. disclaims beneficial ownership of the securities held by Fatjo WCA Partners, L.P. and FFAP except to the extent of his pecuniary interest therein. Includes 196,395 restricted shares of Common Stock that will accelerate and vest in full upon the closing of the Merger. Mr. Fatjo, Jr. has voting power over such unvested restricted shares of Common Stock as of March 15, 2012.
|
|
(3)
|
Includes 100,000 shares underlying options currently exercisable. Includes 199,624 restricted shares of Common Stock that will accelerate and vest in full upon the closing of the Merger. Mr. Kruszka has voting power over such unvested restricted shares of Common Stock.
|
|
(4)
|
Includes 75,000 shares underlying options currently exercisable. Includes 151,357 restricted shares of Common Stock that will accelerate and vest in full upon the closing of the Merger. Mr. Casalinova has voting power over such unvested restricted shares of Common Stock.
|
|
(5)
|
Includes: (a) 3,074 shares owned by Thomas J. Fatjo, IV Descendant’s Trust; (b) 3,074 shares owned by Berkeley E. Fatjo Descendant’s Trust; (c) 3,074 shares owned by Travis C. Fatjo Descendant’s Trust; (d) 3,074 shares owned by Justin D. Ruud Descendant’s Trust; (e) 3,074 shares owned by Landon C. Ruud Descendant’s Trust; (f) 12,296 shares owned by Jacqueline Fatjo 1998 Gift Trust; and (g) 12,296 shares owned by Channing Fatjo 1998 Gift Trust. Mr. Fatjo, III is the trustee of each of these trusts, and as such, he has voting and investment power over the assets of such trusts, including their shares of Common Stock. Also includes: (v) 3,000 shares held by Tom J. Fatjo, III IRA; and (w) 65,000 shares underlying options currently exercisable. Includes 151,357 restricted shares of Common Stock that will accelerate and vest in full upon the closing of the Merger. Mr. Fatjo, III has voting power over such restricted shares of Common Stock.
|
|
(6)
|
Does not include shares over which Mr. Clark shares voting and dispositive power that he may be deemed to beneficially own as a member of Live Earth Funding LLC. For additional information, please see above “Security Ownership of Certain Beneficial Owners and Management – Owners of More Than 5% of Common and Preferred Stock.”
|
|
(7)
|
Includes 20,000 shares underlying options currently exercisable.
|
|
(8)
|
Mr. Serota is a senior partner in the Private Equity Group of Ares Management, which indirectly controls ACOF II. Mr. Serota disclaims beneficial ownership of the shares owned by ACOF II, except to the extent of any pecuniary interest therein and further disclaims beneficial ownership of 39,970 shares for which he is the record holder of, but has assigned all economic, pecuniary and voting rights to, Ares Management.
|
|
(9)
|
Mr. Berry is a Vice President of Ares Management, which indirectly controls ACOF II. Mr. Berry disclaims beneficial ownership of the shares owned by ACOF II, except to the extent of any pecuniary interest therein and further disclaims beneficial ownership of 14,706 shares for which he is the record holder of, but has assigned all economic, pecuniary and voting rights to, Ares Management.
|
Plan Category
|
(a)
Number of securities to be issued
upon exercise of outstanding options,
warrants and
rights
|
(b)
Weighted-average exercise price
of outstanding options,
warrants
and rights
|
(c)
Number of securities available for future issuance
under equity compensation plans
(excluding securities reflected in column (a))
|
|||
Equity Compensation Plans Approved by Stockholders (1)
|
1,344,969
|
9.52
|
363,519
|
|||
Equity Compensation Plans Not Approved by Stockholders
|
—
|
—
|
—
|
|||
Total
|
1,344,969
|
9.52
|
363,519
|
|
(1)
|
Consists of the 2004 WCA Waste Corporation Incentive Plan, as amended and restated.
|
·
|
Standstill
. Until the earliest of the seventh anniversary of issuance of the Preferred Stock or 180 days after ACOF II owns less than 10% of “post-conversion equity” (outstanding Common Stock assuming conversions into Common Stock of all securities, including Preferred Stock) (the “Standstill Period”), Ares Management LLC agreed to numerous “standstill” restrictions, including acquiring additional voting securities, proposing or encouraging any fundamental transaction, participating in a “group,” soliciting proxies, attempting to change the size of the Board of Directors or its composition, entering into a voting agreement, transferring any of its voting securities (except in compliance with the ACOF II Stockholders Agreement), or discussing or encouraging any of the foregoing.
|
·
|
Director Elections and Restrictions
. As the holder of all of the outstanding Preferred Stock, ACOF II is entitled to elect as a separate class (i) two directors to the Board of Directors for so long as it continues to hold Preferred Stock representing at least 20% of post-conversion equity, (ii) one director for so long as it continues to hold at least 10% of post-conversion equity, and (iii) no directors below 10%. The Preferred Stock does not vote with respect to directors elected by the holders of Common Stock. In connection with its right to elect directors, ACOF II also agreed to certain limits on the qualifications of such directors, and it receives rights to director insurance and indemnification and observer rights on committees.
|
·
|
Voting Restrictions.
During the Standstill Period, ACOF II will vote its shares of Preferred Stock or Common Stock at any stockholder meeting in the following manner: (a) in the manner recommended by the Board of Directors, if the vote is in connection with any fundamental transaction; (b) in its own discretion, if the vote relates to an amendment of the Certificate of Designations for the Preferred Stock or is not inconsistent with the ACOF II Stockholders Agreement; and (c) in the manner recommended by the Board of Directors, if the vote is not otherwise covered above. The Merger as contemplated by the Merger Agreement would constitute a fundamental transaction as defined in the ACOF II Stockholders Agreement.
|
·
|
Transfer Restrictions.
During the Standstill Period, ACOF II will not transfer any shares of Preferred Stock or Common Stock to any other person except: (a) pursuant to the registration rights agreement; (b) in accordance with Rule 144 under the Securities Act; (c) after the second anniversary of the Preferred Stock issuance, transfers of Common Stock issued upon conversion of the Preferred Stock may be made to persons that are not “related persons” to ACOF II or affiliates of WCA Waste that, in any 12 month period, do not, in the aggregate, exceed 7.5% of the outstanding voting securities of WCA Waste; however, such transfers may not be made to a person (or its affiliates or to a group in which such person or an affiliate is a member) that, after giving effect to such transfer, would beneficially own voting securities representing more than 7.5% of the total voting power of WCA Waste’s securities; (d) pursuant to a merger or other reorganization approved by the Board of Directors; or (e) in any event as allowed above (except for pursuant to a merger or reorganization), without the transferee executing an agreement similar to the ACOF II Stockholders Agreement.
|
2011
|
2010
|
||
Audit Fees (1)
|
$ 835,000
|
$ 885,500
|
|
Audit-Related Fees (2)
|
120,000
|
—
|
|
Tax Fees
|
—
|
—
|
|
All Other Fees
|
—
|
—
|
|
Total
|
$ 955,000
|
$ 885,500
|
(1)
|
These represent the aggregate fees billed for professional services rendered by KPMG LLP for the audit of WCA’s consolidated annual financial statements for the years ended December 31, 2011 and 2010 and reviews of the consolidated financial statements included in WCA’s quarterly reports on Form 10-Q for the years then ended and the audit of internal control over financial reporting of WCA as of December 31, 2011 and 2010.
|
(2)
|
The 2011 audit-related fees represent fees billed for professional services in connection with the Emerald Waste acquisition and other matters.
|
Exhibit
Number
|
Description
|
31.1 #
|
Rule 13a-14(a)/15d-14(a) Certification of Chief Executive Officer.
|
31.2 #
|
Rule 13a-14(a)/15d-14(a) Certification of Chief Financial Officer.
|
____________________
# Filed herewith.
|
WCA WASTE CORPORATION | |||
By:
|
/s/
Charles A. Casalinova
|
||
Charles A. Casalinova | |||
Senior Vice President and | |||
Chief Financial Officer |
Name
|
Title
|
Date
|
|||
/s/
Tom J. Fatjo, Jr.
|
Chairman of the Board of Directors
|
March 20, 2012
|
|||
Tom J. Fatjo, Jr.
|
and Chief Executive Officer
(Principal Executive Officer)
|
||||
/s/ JEROME M. KRUSZKA
|
President, Chief Operating Officer
|
March 20, 2012
|
|||
Jerome M. Kruszka
|
and Director
|
||||
/s/
Charles A. Casalinova
|
Senior Vice President and Chief
|
March 20, 2012
|
|||
Charles A. Casalinova
|
Financial Officer (Principal
Financial Officer)
|
||||
/s/
joseph
J. S
carano, Jr.
|
Vice President and Controller
|
March 20, 2012
|
|||
Joseph J. Scarano, Jr.
|
(Principal Accounting Officer)
|
||||
*
|
Director
|
March 20, 2012
|
|||
Richard E. Bean
|
|||||
*
|
Director
|
March 20, 2012
|
|||
Ryan Berry
|
|||||
*
|
Director
|
March 20, 2012
|
|||
Daniel J. Clark
|
|||||
*
|
Director
|
March 20, 2012
|
|||
Preston Moore Jr.
|
|||||
*
|
Director
|
March 20, 2012
|
|||
Roger A. Ramsey
|
|||||
*
|
Director
|
March 20, 2012
|
|||
Jeffrey S. Serota
|
|||||
*
|
Director
|
March 20, 2012
|
|||
Honorable John V. Singleton
|
|||||
By: |
/s/
Tom J. Fatjo, Jr.
|
Attorney-in-Fact
|
March 20, 2012
|
||
Tom J. Fatjo, Jr.
|
Exhibit
Number
|
Description
|
31.1 #
|
Rule 13a-14(a)/15d-14(a) Certification of Chief Executive Officer.
|
31.2 #
|
Rule 13a-14(a)/15d-14(a) Certification of Chief Financial Officer.
|
____________________
# Filed herewith.
|
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