GUILLET EDWARD E 4

What Happened
Edward E. Guillet, a director of Waste Connections (WCN), had restricted share units and deferred share units convert/vest on Feb 13–14, 2026. A total of 623 derivative units were converted (344 on Feb 13; 279 on Feb 14) with no exercise price ($0). To satisfy withholding taxes, the issuer withheld 185 shares (Feb 13) and 150 shares (Feb 14) at an implied price of US $160.27 per share, producing cash of $29,650 and $24,040 respectively (total ~$53,690). The transactions reflect award vesting and tax-withholding, not an open-market purchase or voluntary sale.

Key Details

• Transaction dates: Feb 13, 2026 and Feb 14, 2026; Form filed Feb 18, 2026. (Filed 4–5 days after the transactions.)
• Conversion/exercise entries (code M): 344 shares (2/13) and 279 shares (2/14) converted/acquired; no exercise price ($0).
• Tax-withholding disposals (code F): 185 shares @ US $160.27 = $29,650 (2/13); 150 shares @ US $160.27 = $24,040 (2/14). Total withheld = 335 shares for ~$53,690.
• Grant/award entries (code A): 435 and 687 derivative awards recorded on 2/13 (these reflect RSU/DSU awards or related derivative units).
• Shares owned after transaction: Not specified in the provided filing.
• Notable footnotes: withheld shares satisfy tax withholding on vesting (F1); amounts converted from CAD to USD (F2); DSUs may be settled in cash or shares at issuer discretion (F3); RSU vesting schedule is 50% immediate and 50% on the first anniversary (F4–F6).

Context

• These transactions are routine compensation-related events: restricted share units and deferred share units vested/converted and the company withheld shares to cover taxes (a cashless/withholding settlement), rather than open-market selling by the director. Such withholding-related disposals are common and generally reflect tax obligations, not necessarily a change in the insider’s view of the company.