Republic Services (NYSE: RSG) EVP granted RSUs, stock units and PSUs

Rhea-AI Filing Summary

Republic Services EVP Brian A. Bales, Chief Development Officer, reported routine equity-based compensation changes. On January 15, 2026, he acquired 194.82 Restricted Stock Units based on a 1-for-1 conversion into common stock, at a reference price of $210.79 per share, bringing his total RSUs to 65,870.22. He also acquired 82 stock units under the Republic Services Stock Investment Fund at $210.79, for a total of 28,027 stock units, and 109 Performance Share (PSU) units at $210.79, for a total of 36,629 PSUs. Footnotes state these additions largely represent dividend equivalents on existing awards and units held or deferred under the company’s Deferred Compensation Plan, with stock investment fund units settled in cash rather than shares.

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

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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^*

Bales Brian A

(Last) (First) (Middle)

C/O REPUBLIC SERVICES, INC.

5353 E. CITY NORTH DRIVE

(Street)

PHOENIX AZ 85054

(City) (State) (Zip)

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

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, Chief Development Officer

3. Date of Earliest Transaction (Month/Day/Year)
01/15/2026

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

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

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

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

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
Restricted Stock Units	(1)	01/15/2026		A		194.82		(2)	(2)	Common Stock	194.82	$210.79	65,870.22(3)(4)	D
Stock Units	(5)	01/15/2026		A		82		(5)	(5)	Common Stock	82	$210.79	28,027	D
Performance Shares (PSUs)	(1)	01/15/2026		A		109		(6)	(6)	Common Stock	109	$210.79	36,629	D

Explanation of Responses:

1. Based on 1 on 1 conversion.

2. Represents additional Restricted Stock Units (RSUs) accrued as dividends on outstanding RSU awards that will vest and be settled to the extent the RSU is vested and settles.

3. A portion of the Restricted Stock Units are held under the Company's Deferred Compensation Plan.

4. Total reflects 0.22 additional RSUs due to recalculation of prior rounding.

5. The Reporting Person holds these stock units under the Republic Services Stock Investment Fund ("Investment Fund") pursuant to his election under the Company's Deferred Compensation Plan. The Investment Fund is a measurement fund under which units are equal in value to shares of the Company's common stock and are settled in cash and receive dividend equivalents, in the form of additional stock units, each time a dividend is paid on the Company's common stock.

6. Reflects dividend equivalents received on earned Performance Shares ("PSUs") in accordance with the Republic Services, Inc. 2021 Stock Incentive Plan and such PSUs were deferred under the Company's Deferred Compensation Plan.

Remarks:

	/s/ Lauren McKeon, Attorney-in-Fact	01/20/2026
	** 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).
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FAQ

What insider activity did Republic Services (RSG) report for Brian A. Bales?

Republic Services reported that EVP and Chief Development Officer Brian A. Bales acquired additional equity-based awards on January 15, 2026, including Restricted Stock Units, stock units, and Performance Share units, all coded as acquisitions.

How many Restricted Stock Units did Brian A. Bales acquire and hold after the transaction?

Bales acquired 194.82 Restricted Stock Units at a reference price of $210.79 per share. After this transaction, he beneficially owned 65,870.22 Restricted Stock Units, based on a 1-for-1 conversion into Republic Services common stock.

What are the stock units reported under the Republic Services Stock Investment Fund for RSG?

The filing shows Bales acquired 82 stock units at $210.79 each in the Republic Services Stock Investment Fund, bringing his total to 28,027 stock units. Footnotes explain this fund is a measurement fund under the company’s Deferred Compensation Plan, with units equal in value to common shares but settled in cash and accruing dividend-equivalent stock units.

What Performance Share (PSU) activity did the Republic Services Form 4 disclose?

Bales acquired 109 Performance Shares (PSUs) at a reference price of $210.79, increasing his PSU balance to 36,629. According to the footnotes, these represent dividend equivalents received on earned PSUs under the Republic Services, Inc. 2021 Stock Incentive Plan, which were deferred under the company’s Deferred Compensation Plan.

Were the new Republic Services RSUs and PSUs for Brian A. Bales tied to dividends?

Yes. The footnotes state that the additional Restricted Stock Units were accrued as dividends on outstanding RSU awards, vesting and settling only to the extent the underlying RSUs vest and settle. Similarly, the added Performance Share units reflect dividend equivalents on earned PSUs under the 2021 Stock Incentive Plan.

How are some of Brian A. Bales’s Republic Services equity awards treated under the Deferred Compensation Plan?

The filing notes that a portion of Bales’s Restricted Stock Units and his stock investment fund units are held or deferred under the company’s Deferred Compensation Plan. The stock investment fund units are equal in value to Republic Services common stock, settled in cash, and receive dividend equivalents in the form of additional stock units.