Waste Connections (WCN) CAO logs RSU grants, vesting and tax-share withholdings
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Waste Connections, Inc. senior vice president and chief accounting officer Derek Tan reported multiple equity compensation transactions. On February 13, 2026, he received grants of restricted share units totaling 1,936 units in two awards, with one footnote describing vesting 25% per year over four years and another as performance-based with a potential maximum of 4,840 units depending on multi-year performance.
Between February 14 and 17, 2026, previously granted restricted share units vested and were converted into common shares in several steps, and the issuer withheld small amounts of common shares, such as 294 and 67 shares at $161.3773 and 82 and 69 shares at $160.2600 per share, to satisfy tax withholding obligations. After these transactions, Tan directly held 2,577 common shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
1,921 shares exercised/converted
Mixed
14 txns
Insider
TAN DEREK
Role
SR VP Chief Accounting Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Share Units | 273 | $0.00 | -- |
| Exercise | Restricted Share Units | 1,140 | $0.00 | -- |
| Exercise | Common Shares | 1,140 | $0.00 | -- |
| Tax Withholding | Common Shares | 294 | $161.3773 | $47K |
| Exercise | Common Shares | 273 | $0.00 | -- |
| Tax Withholding | Common Shares | 67 | $161.3773 | $11K |
| Exercise | Restricted Share Units | 276 | $0.00 | -- |
| Exercise | Common Shares | 276 | $0.00 | -- |
| Tax Withholding | Common Shares | 82 | $160.26 | $13K |
| Exercise | Restricted Shae Units | 232 | $0.00 | -- |
| Exercise | Common Shares | 232 | $0.00 | -- |
| Tax Withholding | Common Shares | 69 | $160.26 | $11K |
| Grant/Award | Restricted Share Units | 1,936 | $0.00 | -- |
| Grant/Award | Restricted Share Units | 1,936 | $0.00 | -- |
Holdings After Transaction:
Restricted Share Units — 0 shares (Direct);
Common Shares — 2,665 shares (Direct);
Restricted Shae Units — 694 shares (Direct)
Footnotes (1)
- Represents shares withheld by the Issuer in satisfaction of the applicable withholding taxes due in connection with the vesting of restricted share units and delivery of the converted common shares. For purposes of this disclosure, Canadian dollar amounts have been converted to U.S. dollars. CAN $220.07 = US $161.3773 For purposes of this disclosure, Canadian dollar amounts have been converted to U.S. dollars. CAN $220.07 = US $161.3773 Represents an award of restricted share units. The award shall vest 25% per year over a four-year period following the date of grant. Represents an award of performance-based restricted share units. The target number of units is presented in the table. Subject to certain continued employment conditions and subject to accelerated vesting in certain circumstances, the number of units that actually vest at the end of the three-year performance period will be 0% to 250% of the scheduled amount, depending on the extent to which the Issuer meets or exceeds certain performance goals at the end of each year during the performance period. The maximum number of units that may vest at the end of the three-year performance period is 4,840 (250% of the target number). Represents the conversion upon vesting of restricted share units into common shares of the Issuer. The restricted share units were awarded on February 14 2025 and vest in four equal annual installments. The common shares are reported in Table 1. Represents the conversion upon vesting of restricted share units into common shares of the Issuer. The restricted share units were awarded on February 16, 2024 and vest in three equal annual installments. The common shares are reported in Table 1. Represents the conversion upon vesting of restricted share units into common shares of the Issuer. The restricted share units were awarded on February 17, 2023 and vest in three equal annual installments. The common shares are reported in Table 1. Represents the conversion upon vesting of a performance-based restricted share unit award into common shares of the Issuer. The award was granted on February 17, 2023 and contained performance goals that the Issuer achieved over the three-year performance period from January 1, 2023 to December 31, 2025. The number of earned award units that vested at the end of the three-year performance period, as determined by the Compensation Committee of the Issuer's Board of Directors, was 139.5% of the target number of shares subject to the award. The common shares are reported on Table 1.
FAQ
What insider transactions did Derek Tan report for Waste Connections (WCN)?
Derek Tan reported multiple equity compensation transactions, including restricted share units converting into common shares and new RSU grants. Several small common share disposals were made by share withholding to cover tax obligations related to these vesting events, rather than open-market sales.
What is the maximum number of performance-based RSUs that may vest for Derek Tan at Waste Connections (WCN)?
The filing states the performance-based RSU award can vest up to 4,840 units, which is 250% of the target number. Actual vesting depends on Waste Connections’ achievement of defined performance goals over a three-year performance period ending December 31, 2025.