New RSU grants and vesting for Waste Connections (NYSE: WCN) EVP
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Waste Connections executive Patrick James Shea, Exec VP, General Counsel & Secretary, reported a series of equity compensation transactions. On February 13, 2026, he received two awards of 4,068 restricted share units each, one time-based and one performance-based, with vesting over multi-year periods tied to service and performance goals.
Between February 14 and 17, 2026, multiple previously granted restricted share unit awards vested and were converted into common shares, including performance-based units from a 2023 grant that vested at 139.5% of the target number after a three-year performance period. Some common shares were withheld by the company to satisfy tax obligations related to these vestings, rather than sold in the open market. After these transactions, Shea directly held 26,476 common shares, plus 110 common shares held indirectly for each of his son and daughter.
Positive
- None.
Negative
- None.
Insider Trade Summary
8,355 shares exercised/converted
Mixed
16 txns
Insider
Shea Patrick James
Role
Exec VP, General Counsel & Sec
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Share Units | 1,013 | $0.00 | -- |
| Exercise | Restricted Share Units | 5,650 | $0.00 | -- |
| Exercise | Common Shares | 1,013 | $0.00 | -- |
| Tax Withholding | Common Shares | 399 | $161.28 | $64K |
| Exercise | Common Shares | 5,650 | $0.00 | -- |
| Tax Withholding | Common Shares | 1,546 | $161.28 | $249K |
| Exercise | Restricted Share Units | 853 | $0.00 | -- |
| Exercise | Common Shares | 853 | $0.00 | -- |
| Tax Withholding | Common Shares | 208 | $160.26 | $33K |
| Exercise | Restricted Share Units | 839 | $0.00 | -- |
| Exercise | Common Shares | 839 | $0.00 | -- |
| Tax Withholding | Common Shares | 237 | $160.26 | $38K |
| Grant/Award | Restricted Share Units | 4,068 | $0.00 | -- |
| Grant/Award | Restricted Share Units | 4,068 | $0.00 | -- |
| holding | Common Shares | -- | -- | -- |
| holding | Common Shares | -- | -- | -- |
Holdings After Transaction:
Restricted Share Units — 1,012 shares (Direct);
Common Shares — 22,771 shares (Direct);
Common Shares — 110 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 10,170 (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 did Waste Connections (WCN) executive Patrick James Shea report in this Form 4?
Patrick James Shea reported new restricted share unit awards and several vesting events that converted units into common shares. The filing also shows shares withheld to cover taxes and updated direct and indirect common share holdings after these equity compensation transactions.
How were performance-based RSUs for Patrick James Shea determined at Waste Connections?
Performance-based restricted share units granted on February 17, 2023 vested based on results over a three-year performance period from January 1, 2023 to December 31, 2025. The Compensation Committee determined the award vested at 139.5% of the target number of shares.
How do the new RSU awards for Patrick James Shea at WCN vest over time?
One new restricted share unit award to Patrick James Shea vests 25% per year over four years following the grant date. The separate performance-based award can vest between 0% and 250% of target, depending on Waste Connections’ achievement of specified performance goals during the performance period.