Carrasco Rafael 4

What Happened

• Rafael Carrasco, Senior Vice President of Enterprise Strategy at Waste Management (WM), had a performance share award settle on Jan 29, 2026: 12,208 shares valued at $226.41 each (total ~$2,764,013).
• To satisfy tax obligations tied to that award, 4,166 shares were surrendered/withheld at $226.41 per share ($943,224). On Jan 30, 2026 he also sold 690 shares in the open market at a weighted average price of $219.01 ($151,114). Total sale proceeds ≈ $1,094,338.
• This was primarily an award/settlement (acquisition) with routine share sales for tax withholding and under a pre-arranged trading plan — not a fresh cash purchase.

Key Details

• Transaction dates: Award settlement and tax withholding on 2026-01-29; open-market sale on 2026-01-30. Filing date: 2026-02-02 (appears timely).
• Prices: Award/withholding reported at $226.41; open-market sale weighted average $219.01 (individual sale prices ranged $218.93–$219.06 per footnote).
• Shares: 12,208 awarded; 4,166 withheld/surrendered; 690 sold. Net shares retained from this award = 12,208 − 4,166 − 690 = 7,352 (amount held after these transactions is not otherwise stated in the filing).
• Footnotes: F1 = settlement of performance share award under the 2014 Stock Incentive Plan; F2 = sale of shares to cover personal federal income tax under a Rule 10b5-1 trading plan; F3 = multiple trades produced the weighted-average sale price.
• Transaction codes: A = award/acquisition; F = tax withholding/surrender; S = open-market sale.

Context

• This is a common post-award pattern: an executive receives performance shares and immediately has shares withheld or sold to cover taxes. Such sales typically reflect tax-management, not a directional bet on the stock.
• The 10b5-1 plan sale (F2) indicates the open-market sale was pre-planned; F3 confirms the sale executed in multiple trades at roughly $218.93–$219.06.