Waste Connections (WCN) tax chief logs RSU grants, vesting and tax share disposals
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Waste Connections, Inc. senior vice president and chief tax officer Matthew Stephen Black reported a series of equity compensation events in February 2026. He received awards of restricted share units, including two grants of 2,526 units each, which vest over four years, and performance-based units that can vest between 0% and 250% of target depending on company results.
Several previously granted restricted share units vested and were converted into common shares, and portions of those new shares (including 1,078, 221, 166 and 157 common shares) were withheld at prices of $161.28 and $160.26 per share to satisfy tax obligations. Following the latest reported transaction, he held 43,027 common shares directly, and additional indirect holdings were reported for his son and daughter.
Positive
- None.
Negative
- None.
Insider Trade Summary
6,392 shares exercised/converted
Mixed
16 txns
Insider
Black Matthew Stephen
Role
Sr VP Chief Tax Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Share Units | 793 | $0.00 | -- |
| Exercise | Restricted Share Units | 4,425 | $0.00 | -- |
| Exercise | Common Shares | 4,425 | $0.00 | -- |
| Tax Withholding | Common Shares | 1,078 | $161.28 | $174K |
| Exercise | Common Shares | 793 | $0.00 | -- |
| Tax Withholding | Common Shares | 221 | $161.28 | $36K |
| Exercise | Restricted Share Units | 645 | $0.00 | -- |
| Exercise | Common Shares | 645 | $0.00 | -- |
| Tax Withholding | Common Shares | 166 | $160.26 | $27K |
| Exercise | Restricted Share Units | 529 | $0.00 | -- |
| Exercise | Common Shares | 529 | $0.00 | -- |
| Tax Withholding | Common Shares | 157 | $160.26 | $25K |
| Grant/Award | Restricted Share Units | 2,526 | $0.00 | -- |
| Grant/Award | Restricted Share Units | 2,526 | $0.00 | -- |
| holding | Common Shares | -- | -- | -- |
| holding | Common Shares | -- | -- | -- |
Holdings After Transaction:
Restricted Share Units — 793 shares (Direct);
Common Shares — 43,533 shares (Direct);
Common Shares — 121 shares (Indirect, Son)
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. 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 6,315 (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 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 17, 2023 and vest in four 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 WCN executive Matthew Stephen Black report?
Matthew Stephen Black reported multiple equity compensation transactions, including restricted share unit grants, vesting events converting units into common shares, and share dispositions used to cover withholding taxes. These transactions reflect standard executive compensation activity rather than open-market stock purchases or sales.
What type of equity awards did WCN grant to Matthew Stephen Black?
He received restricted share unit awards, including two grants of 2,526 units each and performance-based restricted share units. Time-based awards vest 25% per year over four years, while performance-based awards vest over three years based on the company meeting specified performance goals.
What are the performance conditions for Matthew Stephen Black’s WCN performance-based RSUs?
The performance-based restricted share units vest over a three-year period, with 0% to 250% of the target units vesting depending on performance against goals. One award earned 139.5% of its target after meeting performance goals from January 1, 2023 to December 31, 2025.