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Waste Connections, Inc.·4

Feb 18, 4:44 PM ET

Lee Susan 4

Research Summary

AI-generated summary

Updated

Waste Connections (WCN) Director Susan Lee Exercises RSUs; 335 Shares Withheld

What Happened

  • Director Susan Lee had restricted share units (RSUs) vest and convert into common shares on Feb 13–14, 2026. According to the Form 4, 623 shares were converted (344 on Feb 13 and 279 on Feb 14). To satisfy withholding taxes, 335 shares were withheld (185 on Feb 13 and 150 on Feb 14), resulting in cash/tax withholding of $29,650 and $24,040 respectively (total ~$53,690 USD, using CAN$218.26 = US$160.2683 per share). In addition, new RSU awards were reported on Feb 13 (435 and 687 RSUs, total 1,122 RSUs) pursuant to the company’s award program.
  • This was not an open-market sale or purchase by the insider but a routine vesting/settlement event (cashless settlement via share withholding to cover tax liabilities).

Key Details

  • Transaction dates and amounts:
    • Feb 13, 2026: 344 shares converted (acquired); 185 shares withheld for taxes (disposed) — $29,650.
    • Feb 14, 2026: 279 shares converted (acquired); 150 shares withheld for taxes (disposed) — $24,040.
    • Feb 13, 2026: Grants recorded of 435 and 687 RSUs (total 1,122 RSUs) — these are awards, not open-market purchases.
  • Per-share value used for withholding conversion: about US$160.27 (conversion from CAN$218.26 per footnote).
  • Shares owned after transaction: not provided in the supplied data.
  • Notable footnotes: withholding entries represent shares retained by the issuer to satisfy applicable withholding taxes on vesting (routine tax withholding). RSUs have a 50% immediate / 50% one-year vesting schedule per the footnotes; some awards vested immediately and converted upon vesting.
  • Filing timeliness: no late filing indicator provided in the supplied information.

Context

  • This was effectively a cashless settlement of vested RSUs (shares were converted on vesting and a portion withheld for taxes). Such withholding is a routine administrative step and does not represent an open-market sale decision by the insider.
  • For retail investors: award conversions and tax-withholdings are common among insiders and are primarily administrative; they are less informative about management’s view of the stock than outright purchases or discretionary sales.