LARSON MICHAEL 4

What Happened

• Michael Larson, a non-management director of Republic Services (RSG), had 1,858 restricted stock units (RSUs converted into 1,858 shares of common stock) effective 2026-01-31. The conversion was reported as an exercise/conversion of a derivative (Form 4 code M); the reported price per share was $0 because these were previously granted RSUs, not a cash purchase. The filing shows both an acquired-entry (1,858 shares) and a corresponding derivative-disposition entry reflecting the conversion of the RSU instrument.

Key Details

• Transaction date: 2026-01-31; Form 4 filed: 2026-02-03 (appears timely).
• Shares involved: 1,858 shares acquired via conversion; reported per-share price $0 (RSU conversion), total cash paid $0 on the form.
• Footnotes: RSUs were originally granted 01/03/2023 (1,788 RSUs plus dividend equivalents resulted in 1,858 RSUs). RSUs vested on grant but conversion to stock was restricted until the earlier of the 3‑year anniversary or separation from service; settlement to common stock was effective 01/31/2026. Conversion was on a 1-for-1 basis.
• Shares owned after the transaction: not specified in the provided filing.

Context

• This is a routine director compensation settlement (conversion of vested RSUs), not an open-market purchase or sale. The $0 price reflects conversion of previously granted RSUs rather than a cash buy; the paired acquisition and disposition lines simply document the RSU instrument being converted into common stock.