Bill Gates, Cascade buy 400K Republic shares

REPUBLIC SERVICES, INC.

Rhea-AI Filing Summary

REPUBLIC SERVICES, INC. (RSG) had significant insider activity as reporting persons Cascade Investment, L.L.C. and William H. Gates III, both ten percent owners, reported open-market purchases of a combined 400,286 shares of common stock on August 20–21, 2026. The reported weighted-average purchase prices ranged from about $219.35 to $222.15 per share, with each transaction executed in multiple trades as detailed in the footnotes.

Insider Trade Summary

Net Buyer: 400,286 shares

Net Buy 6 txns

Insider CASCADE INVESTMENT, L.L.C., GATES WILLIAM H III

Role 10% Owner | 10% Owner

Bought 400,286 shs ($88.18M)

Type	Security	Shares	Price	Value
Purchase	Common stock F4	9,038	$219.5873	$1.98M
Purchase	Common stock F5	181,392	$220.377	$39.97M
Purchase	Common stock F6	931	$220.9103	$206K
Purchase	Common stock F1	127,199	$219.922	$27.97M
Purchase	Common stock F2	78,026	$220.7431	$17.22M
Purchase	Common stock F3	3,700	$221.775	$821K

Holdings After Transaction: Common stock — 112,803,911 shares (Direct)

Footnotes (6)

1. F1. This transaction was executed in multiple trades at prices ranging from $219.3500 to $220.3450. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
2. F2. This transaction was executed in multiple trades at prices ranging from $220.3500 to $221.3200. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
3. F3. This transaction was executed in multiple trades at prices ranging from $221.3500 to $222.1500. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
4. F4. This transaction was executed in multiple trades at prices ranging from $218.8600 to $219.8550. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
5. F5. This transaction was executed in multiple trades at prices ranging from $219.8600 to $220.8500. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
6. F6. This transaction was executed in multiple trades at prices ranging from $220.8650 to $221.0000. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.

Key Figures

Total shares purchased: 400,286 shares Purchase block: 127,199 shares at $219.9220 per share Purchase block: 78,026 shares at $220.7431 per share +4 more

7 metrics

Total shares purchased 400,286 shares Aggregate open-market purchases reported on August 20–21, 2026

Purchase block 127,199 shares at $219.9220 per share Common stock purchase on August 20, 2026 (weighted-average price)

Purchase block 78,026 shares at $220.7431 per share Common stock purchase on August 20, 2026 (weighted-average price)

Purchase block 181,392 shares at $220.3770 per share Common stock purchase on August 21, 2026 (weighted-average price)

Smallest block 931 shares at $220.9103 per share Common stock purchase on August 21, 2026 (weighted-average price)

Price range example $218.8600–$219.8550 per share Trading range for one weighted-average purchase on August 21, 2026 (Footnote F4)

Highest reported trade range $221.3500–$222.1500 per share Trading range for one weighted-average purchase on August 20, 2026 (Footnote F3)

Key Terms

weighted-average price per share, ten percent owner, Rule 10b5-1

3 terms

weighted-average price per share financial

"The price set forth above reflects the weighted-average price per share."

ten percent owner regulatory

"each is identified as a ten percent owner of Republic Services, Inc."

Rule 10b5-1 regulatory

"The Form 4’s Rule 10b5-1 affirmation checkbox is not checked"

Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions were reported for RSG in this Form 4?

The reporting persons disclosed 400,286 shares of Republic Services common stock purchased in open-market transactions on August 20–21, 2026, at weighted-average prices between approximately $219.35 and $222.15 per share.

Who are the reporting persons in the RSG Form 4 filing?

The filing lists Cascade Investment, L.L.C. and William H. Gates III as reporting persons. Each is identified as a ten percent owner of Republic Services, Inc.

How many RSG shares were bought on August 20, 2026?

On August 20, 2026, the reporting persons disclosed three purchase blocks of 127,199, 78,026, and 3,700 shares of Republic Services common stock, each at a reported weighted-average price per share in the $219.92–$221.78 range.

How many RSG shares were bought on August 21, 2026?

On August 21, 2026, the reporting persons disclosed purchases of 9,038, 181,392, and 931 shares of Republic Services common stock, at reported weighted-average prices around $219.59, $220.38, and $220.91 per share, respectively.

Were the RSG insider purchases made under a Rule 10b5-1 trading plan?

The Form 4’s Rule 10b5-1 affirmation checkbox is not checked, and the footnotes describe execution mechanics but do not indicate that these purchases were made pursuant to a Rule 10b5-1 trading plan.

How were the RSG purchase prices reported in this Form 4?

Each line item shows a weighted-average price per share. Footnotes explain that the transactions were executed in multiple trades within specified price ranges, for example between $218.86 and $222.15, and that detailed trade data will be provided upon request.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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Available on EDGAR 08/24/2026 - 04:16 PM Accepted by SEC EDGAR 08/24/2026 - 04:15 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

CASCADE INVESTMENT, L.L.C.

(Last) (First) (Middle)

2365 CARILLON POINT

(Street)

KIRKLAND WASHINGTON 98033

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
REPUBLIC SERVICES, INC. [ RSG ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/20/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common stock	08/20/2026		P		127,199	A	$219.922(1)	112,530,824	D
Common stock	08/20/2026		P		78,026	A	$220.7431(2)	112,608,850	D
Common stock	08/20/2026		P		3,700	A	$221.775(3)	112,612,550	D
Common stock	08/21/2026		P		9,038	A	$219.5873(4)	112,621,588	D
Common stock	08/21/2026		P		181,392	A	$220.377(5)	112,802,980	D
Common stock	08/21/2026		P		931	A	$220.9103(6)	112,803,911	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

CASCADE INVESTMENT, L.L.C.

(Last) (First) (Middle)

2365 CARILLON POINT

(Street)

KIRKLAND WASHINGTON 98033

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

GATES WILLIAM H III

(Last) (First) (Middle)

2365 CARILLON POINT

(Street)

KIRKLAND WASHINGTON 98033

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. This transaction was executed in multiple trades at prices ranging from $219.3500 to $220.3450. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.

2. This transaction was executed in multiple trades at prices ranging from $220.3500 to $221.3200. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.

3. This transaction was executed in multiple trades at prices ranging from $221.3500 to $222.1500. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.

4. This transaction was executed in multiple trades at prices ranging from $218.8600 to $219.8550. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.

5. This transaction was executed in multiple trades at prices ranging from $219.8600 to $220.8500. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.

6. This transaction was executed in multiple trades at prices ranging from $220.8650 to $221.0000. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.

	Cascade Investment, L.L.C. by: /s/ Alan Heuberger, Attorney-in-fact for Michael Larson, Business Manager	08/24/2026
	William H. Gates III by: /s/ Alan Heuberger, Attorney-in-fact	08/24/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)