Cascade Investment (RSG) buys 499,150 Republic Services shares in market

Rhea-AI Filing Summary

Cascade Investment, L.L.C. and William H. Gates III, as ten percent owners of Republic Services, Inc., reported substantial open-market purchases of common stock. Across several trades on May 11–13, 2026, they bought a total of 499,150 shares at per-share prices around the low $200 range. Individual weighted-average prices included $197.18, $201.70, $202.61, $201.24, $202.04, $203.06 and $203.67 per share. Following one of the reported purchases, holdings were listed at 110,315,982 shares of Republic Services common stock.

Insider Trade Summary

Net Buyer: 499,150 shares ($100,528,322)

Net Buy 7 txns

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

Role null | null

Bought 499,150 shs ($100.53M)

Type	Security	Shares	Price	Value
Purchase	Common stock	76,224	$201.2417	$15.34M
Purchase	Common stock	173,819	$202.0388	$35.12M
Purchase	Common stock	87,717	$203.0575	$17.81M
Purchase	Common stock	28,240	$203.6701	$5.75M
Purchase	Common stock	50,245	$201.7002	$10.13M
Purchase	Common stock	4,755	$202.61	$963K
Purchase	Common stock	78,150	$197.18	$15.41M

Holdings After Transaction: Common stock — 110,026,206 shares (Direct, null)

Footnotes (1)

1. This transaction was executed in multiple trades at prices ranging from $196.8300 to $197.6500. 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. This transaction was executed in multiple trades at prices ranging from $201.4800 to $202.2400. 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. This transaction was executed in multiple trades at prices ranging from $200.6300 to $201.6100. 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. This transaction was executed in multiple trades at prices ranging from $201.6400 to $202.6250. 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. This transaction was executed in multiple trades at prices ranging from $202.6300 to $203.6250. 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. This transaction was executed in multiple trades at prices ranging from $203.6300 to $203.7500. 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 bought: 499,150 shares Post-transaction holdings: 110,315,982 shares Purchase price (example 1): $197.18 per share +3 more

6 metrics

Total shares bought 499,150 shares Net open-market purchases reported in this Form 4

Post-transaction holdings 110,315,982 shares Common stock holdings after one reported trade

Purchase price (example 1) $197.18 per share Weighted-average price on May 11, 2026 transaction

Purchase price (example 2) $203.67 per share Weighted-average price on May 13, 2026 transaction

Largest single block 173,819 shares Open-market purchase at $202.0388 per share

Net buy direction Net-buy of 499,150 shares transactionSummary shows 7 buys and 0 sales

Key Terms

open-market purchase, ten percent owner, weighted-average price per share, multiple trades

4 terms

open-market purchase financial

"transaction_action: "open-market purchase""

An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.

ten percent owner financial

""is_ten_percent_owner": 1 for each reporting person"

weighted-average price per share financial

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

multiple trades financial

"This transaction was executed in multiple trades at prices ranging from..."

Form 4 Insider Transactions: What Each Field Means →

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)
05/11/2026

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	05/11/2026		P		78,150	A	$197.18(1)	109,894,982	D
Common stock	05/12/2026		P		50,245	A	$201.7002(2)	109,945,227	D
Common stock	05/12/2026		P		4,755	A	$202.61	109,949,982	D
Common stock	05/13/2026		P		76,224	A	$201.2417(3)	110,026,206	D
Common stock	05/13/2026		P		173,819	A	$202.0388(4)	110,200,025	D
Common stock	05/13/2026		P		87,717	A	$203.0575(5)	110,287,742	D
Common stock	05/13/2026		P		28,240	A	$203.6701(6)	110,315,982	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 $196.8300 to $197.6500. 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 $201.4800 to $202.2400. 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 $200.6300 to $201.6100. 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 $201.6400 to $202.6250. 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 $202.6300 to $203.6250. 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 $203.6300 to $203.7500. 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	05/13/2026
	William H. Gates III by: /s/ Alan Heuberger, Attorney-in-fact	05/13/2026
	** 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)

FAQ

What insider buying did Cascade Investment report for Republic Services (RSG)?

Cascade Investment and William H. Gates III reported open-market purchases totaling 499,150 shares of Republic Services common stock. These trades occurred over May 11–13, 2026 at weighted-average prices generally a little above $197 to slightly above $203 per share.

At what prices were the recent Republic Services (RSG) insider purchases made?

The reported insider purchases in Republic Services common stock were made at several weighted-average prices, including $197.18, $201.70, $202.61, $201.24, $202.04, $203.06, and $203.67 per share. Each figure represents the average for multiple trades executed that day.

How many Republic Services (RSG) shares does the reporting holder own after these trades?

One of the reported transactions shows Cascade Investment and related parties holding 110,315,982 shares of Republic Services common stock after that trade. Other entries list similar post-transaction amounts, indicating a very large, long-standing position in the company’s equity.

Over what dates did the Republic Services (RSG) insider share purchases occur?

The Form 4 shows a series of open-market purchases in Republic Services common stock on May 11, 12, and 13, 2026. Multiple trades were executed each day, with weighted-average prices reported and detailed trade breakdowns available on request from the reporting person.

What type of transactions did Republic Services (RSG) insiders report on this Form 4?

All reported transactions are open-market purchases of Republic Services common stock, coded as "P" on the Form 4. There are no reported sales, derivatives exercises, gifts, or restructuring entries in this filing, and the net activity reflects a net buy position.