BRADLEY AARON 4

What Happened

• Bradley Aaron, Senior Vice President — Performance Optimization at Waste Connections (WCN), had 310 restricted share units (RSUs) convert into common shares on Feb 18, 2026. Of those, 122 shares were withheld by the company to satisfy tax withholding obligations, generating a tax payment value of $19,857 (122 shares × $162.76). The conversion resulted in a net issuance to Aaron of 188 shares (310 converted − 122 withheld). This is a routine RSU vesting and tax-withholding transaction rather than an open-market purchase or sale.

Key Details

• Transaction date: 2026-02-18; Form 4 filed 2026-02-20 (timely — two business days later).
• Actions reported:
  • Conversion/exercise of derivative (RSU conversion): 310 shares acquired at $0.00 (code M).
  • Shares withheld for tax payment: 122 shares disposed at $162.76 each, total $19,857 (code F).
• Shares owned after transaction: not reported in the excerpt provided.
• Footnotes:
  • F1: Shares withheld by the issuer to satisfy withholding taxes on vesting.
  • F2: These were RSUs awarded Feb 18, 2022 that vest in four equal annual installments; this report covers the conversion upon vesting.
• Filing timeliness: No delinquency indicated; Form 4 was filed two days after the transaction (within the typical 2-business-day requirement).

Context

• This was a standard RSU vesting with shares withheld to cover tax obligations (a common cashless tax-withholding method), not a market sale or new purchase. The M code reflects conversion/exercise of a derivative (here, RSUs converting into common stock). Such withholding transactions are routine and do not necessarily indicate insider sentiment about the company's prospects.