Bill Gates fund buys 571K Republic Services 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. On August 24–25, 2026, Cascade reported open-market or private purchases totaling 571,116 shares of common stock at weighted-average prices around $221–$224 per share. Each reported price is a weighted-average derived from multiple trades within stated price ranges, and the filers have undertaken to provide detailed trade breakdowns upon request.

Insider Trade Summary

Net Buyer: 571,116 shares

Net Buy 7 txns

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

Role 10% Owner | 10% Owner

Bought 571,116 shs ($127.03M)

Type	Security	Shares	Price	Value
Purchase	Common stock F4	101,653	$221.1248	$22.48M
Purchase	Common stock F5	128,729	$222.0374	$28.58M
Purchase	Common stock F6	23,321	$223.0445	$5.20M
Purchase	Common stock F7	15,774	$223.7365	$3.53M
Purchase	Common stock F1	42,112	$222.45	$9.37M
Purchase	Common stock F2	217,350	$222.8427	$48.43M
Purchase	Common stock F3	42,177	$223.728	$9.44M

Holdings After Transaction: Common stock — 113,375,027 shares (Direct)

Footnotes (7)

1. F1. This transaction was executed in multiple trades at prices ranging from $221.5500 to $222.5400. 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 $222.5500 to $223.5450. 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 $223.5500 to $224.1900. 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 $220.5800 to $221.5750. 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 $221.5800 to $222.5700. 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 $222.5800 to $223.5750. 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 $223.5800 to $223.9800. 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: 571,116 shares of common stock Largest single purchase block: 217,350 shares at $222.8427 per share Second-largest purchase block: 128,729 shares at $222.0374 per share +3 more

6 metrics

Total shares bought 571,116 shares of common stock Net buy shares reported in the transaction summary for August 24–25, 2026

Largest single purchase block 217,350 shares at $222.8427 per share Common stock purchase on 2026-08-24 coded P with footnote F2

Second-largest purchase block 128,729 shares at $222.0374 per share Common stock purchase on 2026-08-25 coded P with footnote F5

Additional purchase block 101,653 shares at $221.1248 per share Common stock purchase on 2026-08-25 coded P with footnote F4

Purchase at higher weighted-average 42,177 shares at $223.7280 per share Common stock purchase on 2026-08-24 coded P with footnote F3

Number of buy transactions 7 buy transactions All reported transactions in this Form 4 are coded P (purchase)

Key Terms

weighted-average price per share, ten percent owner, open market or private transaction

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 listed as a ten percent owner of Republic Services, Inc."

open market or private transaction financial

"transaction code description is Purchase in open market or private transaction"

FAQ

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

What insider activity did RSG report in this Form 4?

The Form 4 reports that Cascade Investment, L.L.C., associated with William H. Gates III, made open-market or private purchases of Republic Services common stock on August 24–25, 2026 across multiple trades at weighted-average prices around $221–$224 per share.

How many RSG shares were purchased in total according to this Form 4?

According to the filing’s transaction summary, Cascade Investment, L.L.C. reported net purchases of 571,116 shares of Republic Services common stock, with no reported sales, gifts, or derivative exercises in this Form 4.

What were the reported purchase prices for the RSG insider transactions?

Each transaction reports a weighted-average price per share, including blocks at $221.1248, $222.0374, $222.4500, $222.8427, $223.0445, $223.7280, and $223.7365, each representing multiple trades within the detailed price ranges described in the footnotes.

Were any Republic Services (RSG) shares sold in this Form 4?

No. The transaction summary shows 7 buy transactions totaling 571,116 shares and 0 sell transactions, resulting in a net-buy direction for this reporting period.

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

The Form 4’s Rule 10b5-1 checkbox is unchecked (aff_10b5_one is false), and the footnotes do not reference any Rule 10b5-1 plan, so these transactions are not reported as being made pursuant to a Rule 10b5-1 trading arrangement.

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 indicated as a ten percent owner of Republic Services, Inc. in this Form 4.

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 08/26/2026 - 04:15 PM EDT Accepted by SEC EDGAR 08/26/2026 - 04:15 PM EDT 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)
08/24/2026

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	08/24/2026		P		42,112	A	$222.45(1)	112,846,023	D
Common stock	08/24/2026		P		217,350	A	$222.8427(2)	113,063,373	D
Common stock	08/24/2026		P		42,177	A	$223.728(3)	113,105,550	D
Common stock	08/25/2026		P		101,653	A	$221.1248(4)	113,207,203	D
Common stock	08/25/2026		P		128,729	A	$222.0374(5)	113,335,932	D
Common stock	08/25/2026		P		23,321	A	$223.0445(6)	113,359,253	D
Common stock	08/25/2026		P		15,774	A	$223.7365(7)	113,375,027	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 $221.5500 to $222.5400. 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 $222.5500 to $223.5450. 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 $223.5500 to $224.1900. 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 $220.5800 to $221.5750. 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 $221.5800 to $222.5700. 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 $222.5800 to $223.5750. 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 $223.5800 to $223.9800. 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	08/26/2026
	William H. Gates III by: /s/ Alan Heuberger, Attorney-in-fact	08/26/2026
	** 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)