Republic Services (NYSE: RSG) director gains dividend-linked RSUs

Rhea-AI Filing Summary

Republic Services director Michael Larson reported an automatic increase in his equity-based holdings. On January 15, 2026, he acquired 122.69 Restricted Stock Units (RSUs) at a reference price of $210.79 per unit. These RSUs are described as additional units accrued as dividends on his outstanding RSU awards, meaning they are dividend-equivalent grants tied to prior awards rather than a new discretionary grant. Each RSU is based on a 1-for-1 conversion into Republic Services common stock when it vests and settles. Following this transaction, Larson beneficially owns a total of 41,789.47 RSUs, held in direct form.

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

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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^*

LARSON MICHAEL

(Last) (First) (Middle)

2365 CARILLON POINT

(Street)

KIRKLAND WA 98033

(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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

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		122.69		(2)	(2)	Common Stock	122.69	$210.79	41,789.47	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.

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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

What insider transaction did Republic Services (RSG) report for Michael Larson?

The filing shows that director Michael Larson acquired 122.69 Restricted Stock Units (RSUs) in a transaction dated January 15, 2026, coded as an acquisition.

What type of securities did Michael Larson receive in this Republic Services Form 4?

He received Restricted Stock Units (RSUs), which are derivative securities that convert on a 1-for-1 basis into Republic Services common stock upon vesting and settlement.

Why did Michael Larson receive 122.69 additional RSUs from Republic Services (RSG)?

The filing states these represent additional RSUs accrued as dividends on outstanding RSU awards, which will vest and be settled only to the extent the underlying RSUs vest and settle.

How many Restricted Stock Units does Michael Larson hold after this transaction?

After the January 15, 2026 transaction, Michael Larson beneficially owns 41,789.47 RSUs tied to Republic Services common stock.

Is Michael Larson’s ownership in Republic Services reported as direct or indirect?

The Form 4 reports his 41,789.47 RSUs as held with direct (D) ownership, with no indirect ownership relationship specified.

What does the 1-for-1 conversion mentioned in the Republic Services Form 4 mean?

The footnote explains the RSUs are based on a 1-on-1 conversion, meaning each vested RSU is designed to settle into one share of Republic Services common stock.