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Waste Connections, Inc.·4

Feb 18, 5:21 PM ET

Shea Patrick James 4

Research Summary

AI-generated summary

Updated

Waste Connections (WCN) GC Shea James Receives 16,491 Shares

What Happened

  • Shea Patrick James, Executive Vice President, General Counsel & Secretary of Waste Connections (WCN), converted/released restricted share units into 16,491 common shares across transactions dated Feb 13–17, 2026.
  • To cover withholding taxes on the vesting, the issuer withheld 2,390 shares (reported as dispositions) with a reported withholding value of about $385,006. The net increase in James’s holdings from these events was approximately 14,101 shares.
  • These entries reflect awards/vestings (A) and conversion/exercise of derivative awards (M) with tax withholding (F).

Key Details

  • Transaction dates and amounts:
    • Feb 13, 2026: two awards reported of 4,068 shares each (awards/derivative acquisitions).
    • Feb 14, 2026: conversion of 839 shares; 237 shares withheld at $160.26 ($37,982).
    • Feb 16, 2026: conversion of 853 shares; 208 shares withheld at $160.26 ($33,334).
    • Feb 17, 2026: conversions of 1,013 and 5,650 shares; 399 and 1,546 shares withheld at $161.28 ($64,351 and $249,339).
  • Total acquired (from vesting/conversion): 16,491 shares. Total withheld for taxes: 2,390 shares (~$385,006). Net new shares: ~14,101.
  • Notable footnotes:
    • F1: shares withheld by issuer to satisfy applicable withholding taxes (cashless settlement).
    • F3/F7: performance-based restricted share units (PSUs) from 2023 vested with payout at 139.5% of target (per filing).
    • F4–F6: conversions on vesting of prior RSU awards (awarded in 2023–2025) that vest over four years.
  • Filing: Form 4 was filed on Feb 18, 2026 (covers the Feb 13–17 transactions).

Context

  • These were compensation-related vesting and conversion events (restricted share units and performance awards), not open-market purchases or opportunistic sales. The withholding of shares to pay taxes is a routine, cashless way to settle tax obligations on vested equity.
  • For retail investors: vesting/award reporting shows management being paid in equity, but such events are typical of long-term compensation plans and do not, by themselves, signal a buy/sell view from the insider.