Waste Energy (WAST) Director W. Scott McBride Receives Stock Award

What Happened
W. Scott McBride, a director of Waste Energy Corp. (WAST), acquired equity on September 16, 2026, by way of awards/issuances. The filing reports: 6,000,000 restricted common shares issued to McBride (reported consideration $30,000) and 2,500,000 restricted common shares issued to EnergyFX (reported consideration $12,500). The 6,000,000-share issuance was to satisfy $30,000 of accrued compensation; the 2,500,000 shares were issued to EnergyFX as performance/service compensation. The EnergyFX issuance was to an entity McBride controls, so those shares are reported as indirectly beneficially owned by him.

Key Details

• Transaction date: September 16, 2026. Form 4 filed September 25, 2026 (appears late relative to the trade date).
• Reported terms: 6,000,000 shares at reported $0.01/share (reported value $30,000); footnote clarifies an agreed conversion price of $0.005/share for that issuance. 2,500,000 shares at reported $0.01/share (reported value $12,500); no cash was paid for the EnergyFX issuance.
• Ownership after transaction (as reported/derivable): directly acquired 6,000,000 shares; indirectly beneficially owns 2,500,000 shares via EnergyFX plus 320,000 shares held in spouse’s name — totaling ~8,820,000 shares beneficially.
• Approval/controls: the 6,000,000-share transaction was approved by the issuer’s disinterested directors; McBride disclosed his interest and abstained from approval.
• Footnotes of note: conversion price discrepancy noted (0.005 per share stated in footnote for the compensation conversion); EnergyFX is controlled by McBride and received 2.5M performance/service shares with no cash consideration.

Context

• These were awards/compensation issuances (transaction code A), not open-market purchases or sales. Such issuances typically reflect internal compensation arrangements rather than a direct market sentiment signal.
• The EnergyFX issuance means some shares are indirectly beneficially owned by the director; corporate approval by disinterested directors was obtained and the director abstained, which is standard for related-party issuances.
• The Form 4 was filed several days after the September 16 transaction; delayed filings can reduce the timeliness of insider transparency.