Carrasco Rafael 4

What Happened

• Rafael Carrasco, Senior Vice President of Enterprise Strategy at Waste Management (WM), exercised options to acquire 2,655 shares at an exercise price of $126.00 per share (cost $334,543) on June 5, 2026, and then sold those 2,655 shares in an open-market sale at $220.47 per share for proceeds of $585,335. The filing also reports the related derivative disposition tied to the exercised options.
• This sequence (exercise followed by sale of the same shares) is effectively a cashless exercise: options were converted into shares and the shares were immediately sold. The transactions generated gross proceeds of $585,335 and involved an exercise outlay of $334,543 (approximate net before taxes/fees: $250,792).

Key Details

• Transaction date: June 5, 2026
• Exercise: 2,655 shares at $126.00, total $334,543 (code M)
• Sale: 2,655 shares at $220.47, total $585,335 (open-market sale, code S)
• Derivative disposition: 2,655 (reported at $126) reflecting the option conversion/cancellation
• Shares owned after the transaction: not specified in the provided summary
• No 10b5-1 plan, tax-withholding, or late-filing flag noted in the provided data; Form 4 was filed June 8, 2026 (appears timely)

Context

• An option exercise followed immediately by an open-market sale is common (cashless exercise) and often used to realize value from vested equity; it does not necessarily signal a change in view about the company's prospects.
• For retail investors, purchases are generally viewed as a stronger signal than routine exercises+sales; this report documents a routine monetization of vested compensation rather than a new outright purchase.