Waste Connections insider sale: 5,000 shares by Exec VP Shea

Rhea-AI Filing Summary

Patrick James Shea, Executive Vice President, General Counsel and Secretary of Waste Connections, Inc. (WCN), reported a sale of 5,000 common shares on 08/12/2025 at a reported price of $188.4518 per share. After the transaction he beneficially owned 20,671 common shares, held directly. The Form 4 was signed on 08/14/2025 and discloses this single non-derivative disposition by an insider in his officer capacity.

Positive

• None.

Negative

• Officer disposed of 5,000 common shares at $188.4518, reducing direct beneficial ownership to 20,671 shares

Insights

Securities Analyst

TL;DR: Insider sale of 5,000 shares by a senior officer; size is disclosed but not accompanied by other company financial data.

The filing documents a straightforward open-market disposition of 5,000 common shares by an officer of Waste Connections at $188.4518 per share, leaving 20,671 shares beneficially owned. This is a routine Section 16 disclosure showing insider selling activity; the form contains no information about the reason for the sale, any 10b5-1 plan, or related transactions. Without additional context such as historical insider activity or proportion of holdings sold, the transaction should be interpreted as a documented insider sale rather than evidence of broader company performance.

Corporate Governance Expert

TL;DR: Officer-level sale reported correctly on Form 4; compliance appears timely and complete for the disclosed transaction.

The Form 4 shows the reporting person and mailing address, relationship to issuer (Exec VP, General Counsel & Secretary), the transaction date (08/12/2025), disposition code (S), number of shares sold (5,000), price per share ($188.4518), and remaining beneficial ownership (20,671 shares). The report is signed on 08/14/2025, indicating prompt filing within typical Section 16 timelines. The filing lacks an explanation of the sale's purpose or reference to a Rule 10b5-1 plan, so governance review would note compliance with reporting obligations but flag the absence of stated sale authorization or plan details.

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^*

Shea Patrick James

(Last) (First) (Middle)

3 WATERWAY SQUARE PLACE

SUITE 110

(Street)

THE WOODLANDS TX 77380

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Waste Connections, Inc. [ WCN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Exec VP, General Counsel & Sec

3. Date of Earliest Transaction (Month/Day/Year)
08/12/2025

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 Shares	08/12/2025		S		5,000	D	$188.4518	20,671	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

Explanation of Responses:

Remarks:

	Patrick James Shea	08/14/2025
	** 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 insider transaction did Waste Connections (WCN) disclose on this Form 4?

The filing reports that Patrick James Shea, Exec VP, General Counsel & Secretary, sold 5,000 common shares on 08/12/2025 at $188.4518 per share.

How many Waste Connections shares does the reporting person own after the sale?

Following the transaction the reporting person beneficially owned 20,671 common shares, held directly.

When was the Form 4 for the WCN insider sale signed?

The Form 4 was signed by the reporting person on 08/14/2025.

Did the Form 4 indicate the sale was part of a 10b5-1 trading plan?

The filing does not state that the transaction was made pursuant to a Rule 10b5-1 trading plan; no such plan is referenced in the disclosed content.

What was the transaction code reported for the sale?

The transaction code is reported as "S", indicating a sale of shares.