Casella Waste (NASDAQ: CWST) CEO logs PSU vest and tax sell-to-cover
Rhea-AI Filing Summary
Casella Waste Systems CEO John W. Casella reported both an equity award vesting and a related share sale. He acquired 23,299 shares of Class A Common Stock at no cost upon vesting of performance-based stock units granted on March 10, 2023, based on performance from January 1, 2025 through December 31, 2025 and a relative total shareholder return multiplier for January 1, 2023 through December 31, 2025, as certified on February 26, 2026.
To cover tax withholding from this vesting, an automatic sell-to-cover instruction adopted on August 22, 2023 triggered the open-market sale of 6,726 Class A shares at a weighted average price of $93.10, which the filing notes did not represent a discretionary sale. After these transactions, he directly owned 27,989 Class A shares.
The filing also lists his Class B Common Stock holdings: 166,000 shares held directly, and additional Class B shares held indirectly through two Spousal Lifetime Access Trusts (137,000 and 134,000 shares) and by his spouse (57,100 Class B and 694 Class A). Footnotes state he disclaims beneficial ownership of certain indirect holdings to the extent he lacks an actual pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 6,726 | $93.10 | $626K |
| Grant/Award | Class A Common Stock | 23,299 | $0.00 | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
Footnotes (1)
- Represents shares of Class A Common Stock acquired by the reporting person upon the vesting of performance-based stock units (PSUs) granted to the reporting person on March 10, 2023, as a result of the level of achievement by Casella Waste Systems, Inc. of certain performance objectives during the period running from January 1, 2025 through December 31, 2025, and a multiplier based on relative total shareholder return for the period running from January 1, 2023 to December 31, 2025, as certified by the issuer's compensation and human capital committee on February 26, 2026. Represents the sale of shares of Class A Common Stock pursuant to a "sell-to-cover" transaction in order to satisfy tax withholding obligations in connection with the vesting of PSUs previously granted to the reporting person on March 10, 2023. This sale was effected pursuant to an automatic sell-to-cover instruction adopted by the reporting person on August 22, 2023 and does not represent a discretionary sale by the reporting person. Represents the weighted average sales price for shares sold in multiple transactions, ranging from $93.00 to $93.68. Upon request of the staff of the Securities and Exchange Commission, the issuer or a security holder of the issuer, the reporting person will provide full information regarding the number of shares sold at each separate price. Held by the Spousal Lifetime Access Trust for the benefit of Mr. Casella ("SLAT 2"). Mr. Casella is the trustee of the SLAT 2. Held by the Spousal Lifetime Access Trust for the benefit of Mr. Casella's spouse ("SLAT"). Mr. Casella's spouse is the trustee of the SLAT. Mr. Casella disclaims beneficial ownership of the securities indicated to the extent to which he does not have an actual pecuniary interest in such securities. Held by Mr. Casella's spouse. Mr. Casella disclaims beneficial ownership of the securities indicated to the extent to which he does not have an actual pecuniary interest in such securities.
