CRAFT JASON 4

What Happened

• Jason Craft, Executive Vice President & COO of Waste Connections (WCN), had restricted share units convert into 842 common shares on 2026-02-18. The reported exercise/conversion price was $0 (these were RSUs), and 332 of the shares were surrendered to cover tax withholding at $162.76 per share (total withholding $54,036). Net shares delivered to Mr. Craft were 510, with an approximate post-withholding value of $83,008 (510 × $162.76).
• This was a routine vesting/conversion of equity awards (not an open-market purchase). No cash was paid to acquire the shares (RSUs settle at $0 exercise price).

Key Details

• Transaction date: 2026-02-18; Form 4 filed 2026-02-20 (timely).
• Reported events:
  • M (exercise/conversion): 842 shares acquired; exercise price $0.
  • F (tax withholding): 332 shares disposed/withheld at $162.76 each = $54,036.
• Shares owned after transaction: not specified in the provided excerpt of the filing.
• Footnotes:
  • F1: Some converted units were previously vested and deferred under the Issuer’s Deferred Compensation Plan.
  • F2: The RSUs were originally awarded on Feb 18, 2022 and vest in four equal annual installments; these shares reflect a vesting installment.
• Transaction codes: M = conversion/exercise of a derivative (RSU settlement); F = shares surrendered to satisfy tax withholding.

Context

• This is effectively a cashless settlement of vested RSUs (shares withheld for taxes), which is a routine administrative step and not the same as an open-market sale or a new purchase. Such filings document compensation realization rather than a directional insider trade signal.