Reed David L. 4

What Happened
David L. Reed, EVP & CFO of Waste Management, disposed of a total of 196 shares for aggregate proceeds of $48,199. On 2026-03-07, 121 shares were withheld at $246.31 each (≈ $29,804) to satisfy tax obligations upon settlement of a restricted share award. On 2026-03-09, he sold 75 shares in the open market at $245.26 each (≈ $18,395) pursuant to a Rule 10b5‑1 trading plan. These were dispositions (tax withholding and sale), not purchases.

Key Details

• Transaction dates and prices:
  • 2026-03-07: 121 shares withheld at $246.31 (tax withholding for RSU settlement) — $29,804.
  • 2026-03-09: 75 shares sold open market at $245.26 under a 10b5‑1 plan — $18,395.
• Total shares disposed: 196; total proceeds: $48,199.
• Shares owned after transaction: not specified in the provided extract; the filing includes an administrative correction (see F2) that adjusted reported beneficial ownership by 3 shares.
• Footnotes of note:
  • F1: Settlement of a restricted share award under the 2014 Stock Incentive Plan (tax withholding).
  • F2: Corrects an administrative error in the March 1, 2026 Form 4 that understated shares withheld and overstated beneficial ownership by 3 shares.
  • F3: The March 9 sale was to cover personal federal income tax obligations and executed under a Rule 10b5‑1 trading plan.
• Filing: Form 4 filed 2026-03-10 covering transactions on 2026-03-07 and 2026-03-09; filing appears timely.

Context
The 121-share transaction was a tax-withholding event when restricted shares vested (code F), and the 75-share move was an open-market sale under a pre-established 10b5‑1 plan (code S). These types of transactions are commonly used to satisfy tax liabilities and do not, by themselves, indicate the insider’s view on the company’s stock.