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Damian Ribar to join Casella Waste (NASDAQ: CWST) as EVP and COO

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Casella Waste Systems appointed Damian A. Ribar as Executive Vice President and Chief Operating Officer, with his employment expected to begin on July 20, 2026. He brings extensive experience from senior roles at Waste Connections and other waste and services companies.

Under his offer letter, Ribar will receive a $500,000 annual base salary and be eligible for a cash bonus of up to 85% of salary. He is expected to receive annual equity awards consisting of $200,000 in restricted stock units and $600,000 in performance stock units, plus a one-time option to purchase 25,000 shares of Class A common stock, vesting over three years. He will also receive relocation reimbursement, subject to repayment if he leaves within two years, and up to 12 weeks of temporary housing.

Positive

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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Base salary $500,000 per year Annual base salary for EVP and COO role
Target bonus 85% of base salary Maximum annual cash bonus opportunity
Annual RSU award $200,000 grant date value Restricted stock units vesting over three years
Annual PSU award $600,000 grant date value Performance stock units vesting after third fiscal year end
Stock options 25,000 shares One-time option grant vesting over three years
Relocation clawback period 2 years Repayment required if he leaves voluntarily within first two years
Temporary housing Up to 12 weeks Transitional housing benefit to assist relocation
Executive Vice President and Chief Operating Officer financial
"appointed Damian A. Ribar as Executive Vice President and Chief Operating Officer of the Company"
restricted stock unit award financial
"an annual restricted stock unit award with a grant date value of $200,000"
A restricted stock unit award is a promise by a company to give an employee a specified number of company shares at a future date if certain conditions are met, such as staying with the company or hitting performance goals. For investors, these awards matter because they can increase the total number of shares outstanding when converted, diluting existing holders, and they align employees’ incentives with shareholders’ interests much like giving a rising bonus that becomes real only after conditions are satisfied.
performance stock unit award financial
"an annual performance stock unit award with a grant date value of $600,000"
stock option award financial
"a one-time stock option award for the purchase of 25,000 shares"
A stock option award is a grant that gives an employee the right to buy a company’s shares at a fixed price for a limited time, often becoming available gradually over a set schedule. Investors care because these awards align workers’ incentives with company performance, can increase employee loyalty, and may create future share dilution and compensation expense that affect earnings per share and shareholder value.
Regulation S-K regulatory
"There are no transactions in which Mr. Ribar has an interest requiring disclosure under Item 404(a) of Regulation S-K."
A set of U.S. Securities and Exchange Commission rules that tell public companies which narrative and qualitative details must be disclosed in filings, such as risk factors, management discussion, executive pay, legal proceedings and business description. Think of it as a standardized checklist or blueprint that ensures investors get the same types of background information from every company so they can compare risks, management quality and strategy before making investment decisions.
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Understanding 8-K Material Events →
0000911177false00009111772026-06-262026-06-26

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
__________________________________________
FORM 8-K
__________________________________________

CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 26, 2026
__________________________________________
Casella Waste Systems, Inc.
(Exact Name of Registrant as Specified in Charter)
__________________________________________
Delaware 000-23211 03-0338873
(State or Other Jurisdiction
of Incorporation)		 (Commission
File Number)		 (IRS Employer
Identification No.)
25 Greens Hill Lane,
Rutland,Vermont05701
(Address of principal executive offices)(Zip Code)

Registrant’s telephone number, including area code: (802) 775-0325
Not applicable
(Former Name or Former Address, if Changed Since Last Report)
__________________________________________

 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐     Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐     Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐     Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading
Symbol(s)		Name of each exchange
on which registered
Class A common stock, $0.01 par value per shareCWSTThe Nasdaq Stock Market LLC
(Nasdaq Global Select Market)
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐




Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 26, 2026, the Board of Directors (the “Board”) of Casella Waste Systems, Inc. (the “Company”) appointed Damian A. Ribar as Executive Vice President and Chief Operating Officer of the Company, effective as of the date of commencement of his employment, which is expected to be July 20, 2026.
Mr. Ribar previously served as Division Vice President of North Florida of Waste Connection, Inc., a solid waste services company (“Waste Connections”), from August 2025 until July 2026. Prior to that, he served as Division Vice President of Florida of Waste Connections from July 2019 to July 2025 and Division Vice President of Atlantic Coast Florida of Waste Connections from June 2016 to June 2019. Earlier in his career, Mr. Ribar served as Area Manager for Progressive Waste Solutions, Ltd., Vice President and Operations Controller at Waste Services, Inc., Chief Accounting Officer and Corporate Controller at Regus Industries, LLC, and Region Controller at Waste Management, Inc. Mr. Ribar holds a Bachelor of Science in Accounting, with a minor in Finance and Economics, from University of Pittsburgh at Johnstown.
There are no family relationships between Mr. Ribar and any director, executive officer or person nominated or chosen by the Company to become a director or executive officer of the Company. There are no transactions in which Mr. Ribar has an interest requiring disclosure under Item 404(a) of Regulation S-K.
In connection with Mr. Ribar’s appointment as Executive Vice President and Chief Operating Officer, on June 27, 2026, Mr. Ribar accepted the terms of an offer letter (the “Offer”). Under the terms of the Offer Letter, Mr. Ribar’s annual base salary will be $500,000, and he will be eligible to receive a cash bonus of up to 85% of his annual base salary. Subject to determination by the Compensation and Human Capital Committee of the Company’s board of directors, Mr. Ribar is expected to receive each year an annual restricted stock unit award with a grant date value of $200,000 that will vest in equal annual installments over a three-year period, commencing on the first anniversary of the grant date, as well as an annual performance stock unit award with a grant date value of $600,000 that will vest based upon the achievement of company-wide performance targets after the third fiscal year end subsequent to grant. In addition, Mr. Ribar will be granted, on the second full trading day after the public announcement of earnings for the Company’s second quarter ended June 30, 2026, a one-time stock option award for the purchase of 25,000 shares of the Company’s Class A common stock that will vest in equal annual installments over a three-year period, commencing on the first anniversary of the grant date, with an exercise price equal to the closing price of the Company’s Class A common stock on the grant date. Mr. Ribar will be reimbursed for reasonable relocation and moving expenses, which will be subject to full repayment if Mr. Ribar voluntarily leaves the Company within the first 2 years of employment, and will also be provided with temporary, transitional housing for up to 12 weeks to assist with his relocation.
The foregoing description of the Offer Letter is qualified in its entirety by reference to the full text of the Offer Letter, a copy of which will be filed with the Company's Form 10-Q for the fiscal quarter ended June 30, 2026.
2

SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 CASELLA WASTE SYSTEMS, INC.
Date: July 1, 2026 By: /s/ Bradford J. Helgeson
  Bradford J. Helgeson
  Executive Vice President and Chief Financial Officer

3

Source: View Original Filing on SEC EDGAR

FAQ

What executive change did Casella Waste Systems (CWST) announce?

Casella Waste Systems appointed Damian A. Ribar as Executive Vice President and Chief Operating Officer. His employment is expected to begin July 20, 2026, strengthening the company’s leadership team with extensive waste industry operational and financial experience.

What is Damian Ribar’s base salary at Casella Waste Systems (CWST)?

Damian Ribar’s annual base salary will be $500,000 as Executive Vice President and COO. This cash compensation forms the foundation of his package, supplemented by a performance-based bonus opportunity and multiple long-term equity incentive awards.

What bonus opportunity will Damian Ribar receive at Casella Waste (CWST)?

Damian Ribar will be eligible for an annual cash bonus of up to 85% of his $500,000 base salary. The actual payout will depend on performance criteria established by Casella Waste’s Compensation and Human Capital Committee each year.

What equity incentives will Casella Waste (CWST) grant Damian Ribar?

Damian Ribar is expected to receive yearly restricted stock units valued at $200,000 and performance stock units valued at $600,000. In addition, he will receive a one-time option to buy 25,000 shares of Class A common stock, vesting over three years.

When will Damian Ribar’s one-time stock option award be granted?

The one-time option for 25,000 shares will be granted on the second full trading day after Casella Waste publicly announces earnings for its second quarter ended June 30, 2026. The exercise price will equal the Class A common stock closing price on the grant date.

Does Casella Waste (CWST) provide relocation benefits to Damian Ribar?

Casella Waste will reimburse Damian Ribar for reasonable relocation and moving expenses and provide up to 12 weeks of temporary housing. Relocation reimbursements must be fully repaid if he voluntarily leaves the company within his first two years of employment.

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