Smith Donald J 4

What Happened
Donald J. Smith, Senior Vice President — Operations at Waste Management, had a settlement of 12,208 performance shares on 2026-01-29 at $226.41 per share (total value ~$2,764,013). To satisfy tax obligations related to that settlement, 4,166 shares were surrendered/withheld on 2026-01-29 at $226.41 per share (value $943,224). Separately, on 2026-01-30 he sold 690 shares in an open-market transaction at $219.59 per share (value $151,514). The award is an acquisition (compensation); the other two items are disposals (withholding and open-market sale).

Key Details

• Transactions and prices:
  • 2026-01-29: Award/settlement of 12,208 shares @ $226.41 (Acquired) — $2,764,013 (F1).
  • 2026-01-29: Payment of tax liability via surrender/withholding of 4,166 shares @ $226.41 (Disposed) — $943,224 (F1).
  • 2026-01-30: Open-market sale of 690 shares @ $219.59 (Disposed) — $151,514 (F2).
• Shares owned after these transactions: not reported in the disclosed Form 4.
• Footnotes: F1 = settlement of a performance share award under the 2014 Stock Incentive Plan; F2 = sale to cover federal income tax obligation pursuant to a Rule 10b5-1 trading plan.
• Filing/reporting: Form 4 filed 2026-02-02 reporting transactions dated Jan 29–30, 2026. No late-filing flag is indicated on the filing.

Context
This was primarily a compensation settlement (performance shares) with routine share withholding and a small open-market sale to cover taxes. Withholdings and Rule 10b5-1 sales are common mechanisms to satisfy tax obligations and do not necessarily indicate the insider's views on the company's stock.