Bill Gates fund buys 552K Republic shares

REPUBLIC SERVICES, INC.

Rhea-AI Filing Summary

REPUBLIC SERVICES, INC. (RSG) reported insider activity by Cascade Investment, L.L.C. and William H. Gates III, each listed as a ten percent owner. Cascade reported open‑market purchases of Republic Services common stock totaling 552,400 shares across seven transactions on August 28 and August 31, 2026.

The reported weighted‑average prices per share for these purchases range from about $220.29 to $224.02, with each transaction executed in multiple trades within stated intraday price ranges. All transactions are coded as purchases of non‑derivative common stock with direct ownership.

Insider Trade Summary

Net Buyer: 552,400 shares

Net Buy 7 txns

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

Role 10% Owner | 10% Owner

Bought 552,400 shs ($122.37M)

Type	Security	Shares	Price	Value
Purchase	Common stock F4	155,944	$221.3229	$34.51M
Purchase	Common stock F5	102,195	$222.3008	$22.72M
Purchase	Common stock F6	41,687	$223.2956	$9.31M
Purchase	Common stock F7	1,174	$224.0173	$263K
Purchase	Common stock F1	58,533	$220.2897	$12.89M
Purchase	Common stock F2	124,008	$220.7727	$27.38M
Purchase	Common stock F3	68,859	$222.1215	$15.30M

Holdings After Transaction: Common stock — 114,487,527 shares (Direct)

Footnotes (7)

1. F1. This transaction was executed in multiple trades at prices ranging from $219.5350 to $220.5300. 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 $220.5400 to $221.4750. 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 $221.6950 to $222.4500. 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 $220.9200 to $221.9150. 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 $221.9200 to $222.9150. 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 $222.9250 to $223.8800. 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.
7. F7. This transaction was executed in multiple trades at prices ranging from $223.9500 to $224.0700. 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: 552,400 shares Number of purchase transactions: 7 transactions Largest single purchase block: 155,944 shares at $221.3229 per share +3 more

6 metrics

Total shares purchased 552,400 shares Aggregate net buy shares reported in the transaction summary

Number of purchase transactions 7 transactions All coded as open‑market or private purchases of common stock

Largest single purchase block 155,944 shares at $221.3229 per share Common stock purchase on August 31, 2026 with weighted‑average price

Second‑largest purchase block 124,008 shares at $220.7727 per share Common stock purchase on August 28, 2026 with weighted‑average price

Reported price range across trades $219.5350–$224.0700 per share Footnotes describe intraday ranges for the multiple trades in each transaction

Net buy/sell direction 552,400 net buy shares Transaction summary reports net‑buy with no sales or dispositions

Key Terms

ten percent owner, weighted-average price per share, non-derivative common stock, open market or private transaction

4 terms

ten percent owner regulatory

"Cascade Investment, L.L.C. and William H. Gates III are each listed as a ten percent owner"

weighted-average price per share financial

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

non-derivative common stock financial

"All transactions are coded as purchases of non-derivative common stock with direct ownership"

open market or private transaction financial

"transaction code P described as Purchase in open market or private transaction"

FAQ

What insider activity did Cascade Investment report for RSG in this Form 4?

Cascade Investment reported purchases of 552,400 shares of Republic Services (RSG) common stock in seven open‑market transactions on August 28 and 31, 2026, all coded as acquisitions of non‑derivative common stock with direct ownership.

On what dates were the RSG shares purchased by Cascade Investment?

The reported purchases of Republic Services (RSG) common stock occurred on August 28, 2026 and August 31, 2026, with multiple transactions on each date at different weighted‑average prices within specified intraday price ranges.

What price range did Cascade Investment pay for the RSG shares?

The weighted‑average purchase prices reported range from about $220.29 to $224.02 per share. Footnotes state that each transaction was executed in multiple trades within narrower intraday price ranges between $219.5350 and $224.0700 per share.

How many separate purchase transactions of RSG stock were reported?

The Form 4 transaction summary reports 7 purchase transactions and no sales, exercises, or gifts. All 7 transactions involve non‑derivative common stock acquired in open‑market or private purchase transactions.

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

The reporting persons are Cascade Investment, L.L.C. and William H. Gates III, each identified as a ten percent owner of Republic Services, Inc. The transactions reported involve purchases of Republic Services common stock with direct ownership.

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Available on EDGAR 09/01/2026 - 04:15 PM Accepted by SEC EDGAR 09/01/2026 - 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)
08/28/2026

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	08/28/2026		P		58,533	A	$220.2897(1)	113,993,660	D
Common stock	08/28/2026		P		124,008	A	$220.7727(2)	114,117,668	D
Common stock	08/28/2026		P		68,859	A	$222.1215(3)	114,186,527	D
Common stock	08/31/2026		P		155,944	A	$221.3229(4)	114,342,471	D
Common stock	08/31/2026		P		102,195	A	$222.3008(5)	114,444,666	D
Common stock	08/31/2026		P		41,687	A	$223.2956(6)	114,486,353	D
Common stock	08/31/2026		P		1,174	A	$224.0173(7)	114,487,527	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 $219.5350 to $220.5300. 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 $220.5400 to $221.4750. 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 $221.6950 to $222.4500. 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 $220.9200 to $221.9150. 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 $221.9200 to $222.9150. 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 $222.9250 to $223.8800. 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.

7. This transaction was executed in multiple trades at prices ranging from $223.9500 to $224.0700. 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	09/01/2026
	William H. Gates III by: /s/ Alan Heuberger, Attorney-in-fact	09/01/2026
	** 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)