Reed David L. 4

What Happened
David L. Reed, EVP & CFO of Waste Management, disposed of shares related to a restricted stock award and an open-market sale. On 2026-02-25, 60 shares were surrendered/withheld to satisfy tax obligations from a restricted share award at $228.48 per share (60 × $228.48 = $13,709). On 2026-02-26, he sold 37 shares in an open-market transaction at $229.67 per share (37 × $229.67 = $8,498). Total proceeds/withheld value across both events = $22,207. These were disposals (sales/withholding), not purchases.

Key Details

• Transaction dates and prices:
  • 2026-02-25: 60 shares @ $228.48 — settlement/withholding to cover tax liability (F)
  • 2026-02-26: 37 shares @ $229.67 — open-market sale (S)
• Footnotes:
  • F1: Settlement of restricted share award under the 2023 Stock Incentive Plan (tax withholding).
  • F2: Open-market sale was to cover personal federal income tax obligations pursuant to a Rule 10b5-1 trading plan.
• Shares owned after transaction: not specified in the details you provided (see the full Form 4 for current holdings).
• Filing date: Form filed 2026-02-27 reporting transactions on 2026-02-25–26; no late filing indicated in the provided info.

Context
These actions appear routine: the 60-share action was a tax-withholding settlement tied to a restricted stock award, and the 37-share sale was executed under a prearranged Rule 10b5-1 plan to cover tax obligations. Such transactions are typically administrative and don’t necessarily signal a change in the insider’s view of the company. Retail investors should consult the complete Form 4 for total post-transaction holdings and watch for additional insider filings for further context.