Republic Services insider sale and RSU vesting reported for RSG

Rhea-AI Filing Summary

Republic Services insider filing shows routine equity compensation activity by EVP/COO Gregg Brummer. On 08/22/2025 Mr. Brummer sold 7,338 shares of common stock at $233.94 per share, leaving 4,060 shares owned directly. On 08/25/2025 a tranche of 524 Restricted Stock Units (granted 08/25/2023) vested and were delivered as 524 shares of common stock; 217 shares were sold to cover tax withholding at a fair market value of $232.22 per share, leaving 4,367 shares owned directly after the tax-related disposition. The filing is signed via attorney-in-fact on 08/26/2025.

Positive

• RSU vesting occurred as scheduled (524 RSUs from 08/25/2023 vested on 08/25/2025), demonstrating planned compensation delivery
• Tax withholding was satisfied via share disposition (217 shares), indicating customary settlement of tax obligations

Negative

• Open-market sale of 7,338 shares on 08/22/2025 at $233.94 could be viewed negatively by some investors as insider monetization
• Form 4 does not specify a Rule 10b5-1 trading plan for the 7,338-share sale, so timing context for that sale is not provided

Insights

Corporate Governance Expert

TL;DR: Routine executive vesting and an open-market sale to monetize holdings and cover taxes; no governance red flags apparent.

The 08/25/2025 RSU vesting and corresponding share delivery reflect standard compensation vesting terms (25% annual tranches from 08/25/2023). The 217-share disposal expressly covers tax withholding, which is common practice. The larger 7,338-share sale on 08/22/2025 appears executed separately from the vesting event; the Form 4 does not indicate a Rule 10b5-1 plan. From a governance standpoint, these are typical disclosures for an officer and do not indicate unusual insider timing or related-party transactions in the filing text.

Securities Analyst

TL;DR: Insider sold material shares but retained thousands of shares; activity alone is neutral without further company context.

The sale of 7,338 shares at $233.94 generated meaningful proceeds based on the reported price, while vesting of 524 RSUs increased share count before tax withholding required a 217-share disposition at $232.22. The net effect left the reporting person with 4,367 shares. This is routine compensation monetization and tax settlement; the filing contains no earnings or operational data to infer impact on company fundamentals.

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^*

Brummer Gregg

(Last) (First) (Middle)

18500 N. ALLIED WAY

(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, COO

3. Date of Earliest Transaction (Month/Day/Year)
08/22/2025

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
Common Stock	08/22/2025		S		7,338	D	$233.94	4,060	D
Common Stock	08/25/2025		M		524(1)	A	$0	4,584	D
Common Stock	08/25/2025		F		217(2)	D	$232.22	4,367	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
Restricted Stock Units	(3)	08/25/2025		M			524	(1)	(1)	Common Stock	524	$0	1,053	D

Explanation of Responses:

1. The Restricted Stock Units ("RSUs") granted on 08/25/2023 vest 25% on each of the first four anniversaries of the date of grant. 524 RSUs, that included accrued dividend equivalents, automatically vested on 08/25/2025 and were paid out in the form of Republic Services, Inc.'s common stock.

2. Represents shares of common stock to satisfy the tax liability of the Reporting Person upon the vesting of shares under a Restricted Stock Unit award on 08/25/2025. The fair market value of the exchanged shares was $232.22 per share (the closing price of Republic Services, Inc.'s common stock on 08/25/2025).

3. Each Restricted Stock Unit represents the contingent right to one share of common stock of Republic Services, Inc.

Remarks:

	/s/ Lauren McKeon, Attorney-in-Fact	08/26/2025
	** 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.

FAQ

What transactions did Gregg Brummer report on Form 4 for RSG?

He sold 7,338 shares on 08/22/2025 at $233.94 and received 524 shares from RSU vesting on 08/25/2025; 217 shares were disposed to cover taxes.

How many RSG shares does the reporting person own after these transactions?

4,367 shares beneficially owned following the reported transactions (direct ownership).

Were the vested RSUs part of a prior grant and what were the vesting terms?

Yes. The RSUs were granted on 08/25/2023 and vest 25% on each of the first four anniversaries; 524 RSUs vested on 08/25/2025.

What price was used for the shares sold to cover taxes?

$232.22 per share, the closing price on 08/25/2025 as stated in the filing.

Who signed the Form 4 and when was it filed?

Signed by Lauren McKeon, Attorney-in-Fact on 08/26/2025, as indicated in the filing.