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|4Feb 18, 5:16 PM ET

Black Matthew Stephen 4

Research Summary

AI-generated summary

Updated

Waste Connections SVP Matthew Black Converts RSUs; Shares Withheld

What Happened

  • Matthew S. Black, Sr. VP & Chief Tax Officer of Waste Connections (WCN), had restricted share units (RSUs) and performance RSUs convert to common shares between Feb 14–17, 2026. A total of 11,444 shares were issued on conversion/vesting.
  • To satisfy withholding tax obligations, 1,622 of those shares were withheld (reported as payments of tax liability), generating proceeds of $261,267. The conversions are reported as derivative exercises/conversions (code M) and the withholdings as tax payments (code F).
  • These were vesting/conversion events tied to prior awards (including a performance-based award that vested at 139.5% of target per the filing), not open‑market purchases or discretionary sales.

Key Details

  • Dates & prices:
    • Feb 14, 2026: 529 shares converted; 157 shares withheld at $160.26 ($25,161).
    • Feb 16, 2026: 645 shares converted; 166 shares withheld at $160.26 ($26,603).
    • Feb 17, 2026: 4,425 + 793 shares converted; 1,078 + 221 shares withheld at $161.28 ($173,860 and $35,643).
  • Shares issued on conversion/award: 11,444 total; shares withheld for taxes: 1,622; net new shares received ~9,822.
  • Total proceeds reported from withheld shares (tax payment): $261,267.
  • Notable footnotes:
    • F1: Withheld shares satisfy withholding tax on RSU vesting.
    • F2–F7: Describe timing/vesting schedules for RSU and performance-RSU awards; one performance award vested at 139.5% of target.
    • Derivative entries reported as $0 reflect conversion of RSUs to common shares.
  • Shares owned after the transactions were not specified in the provided summary.
  • Filing date 2026-02-18 for transactions Feb 13–17, 2026 — filing appears timely (no late filing flag shown).

Context

  • These transactions are routine equity compensation events: RSUs and performance RSUs converted to common shares and some shares were withheld to cover taxes (a common "cashless" or in‑kind tax withholding method). This is not an open‑market sale by the insider and does not necessarily indicate a change in sentiment.