Netherton Susan 4

What Happened
Susan Netherton, Senior Vice President — People, Training & Development at Waste Connections, had 635 restricted share units vest and convert into 635 common shares on Feb 18, 2026. To cover withholding taxes, 250 of those shares were surrendered/withheld at an implied price of $162.76 each, totaling $40,690. The remaining 385 shares were issued to her net of withholding.

Key Details

• Transaction date: 2026-02-18; filing date: 2026-02-20 (appears timely).
• Reported actions:
  • Conversion of RSUs into common shares: 635 shares acquired (derivative conversion, code M).
  • Shares withheld to satisfy taxes: 250 shares disposed at $162.76 each = $40,690 (code F).
• Net shares delivered to insider after withholding: 385 (635 vested − 250 withheld).
• Footnotes:
  • F1: Shares withheld by the issuer to satisfy applicable withholding taxes on vesting.
  • F2: RSUs awarded Feb 18, 2022, vesting in four equal annual installments; this report covers the vested conversion.
• Shares owned after the transaction not stated in the filing.

Context
This was a compensation-related vesting and conversion of RSUs, not an open-market purchase or discretionary sale. Withholding shares to cover taxes is a routine post-vesting event and does not necessarily signal a change in insider sentiment.