Hemmer Tara J. 4

What Happened

• Tara J. Hemmer, SVP & Chief Sustainability Officer at Waste Management (WM), had a performance share award settle on 2026-01-29 for 10,988 shares valued at $2,487,793 (priced at $226.41 per share). To satisfy tax withholding related to the award, 3,685 shares were surrendered (disposed) at $226.41 each ($834,321). Separately, 690 shares were sold in the open market on 2026-01-30 at $219.71 each ($151,596) pursuant to a trading plan. Overall, Hemmer retained 6,613 shares from the award after withholdings and the sale.

Key Details

• Award settlement (A): 10,988 shares @ $226.41 = $2,487,793 (2026-01-29)
• Tax withholding (F): 3,685 shares @ $226.41 = $834,321 (2026-01-29) — settlement of a performance share award (Footnote F1)
• Open-market sale (S): 690 shares @ $219.71 = $151,596 (2026-01-30) — sale pursuant to a Rule 10b5-1 trading plan to cover federal tax obligations (Footnote F2)
• Net shares retained from the award: 6,613
• Filing: Form 4 filed 2026-02-02; transactions dated 2026-01-29 and 2026-01-30 — filing is timely (within the usual two-business-day window)
• Transaction codes explained: A = award/acquisition, F = tax withholding, S = sale

Context

• This was primarily a routine settlement of a performance share award, not an open-market purchase indicating bullish buying. Some shares were withheld and sold to satisfy taxes; the 690-share sale was conducted under a pre-established 10b5-1 plan, which is a common mechanism for scheduled insider sales. These actions are administrative (compensation settlement and tax-related sales) and do not necessarily signal a change in insider sentiment.