RSU awards and tax-share withholding at Waste Connections (NYSE: WCN)
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Waste Connections senior executive Philip Rivard reported a series of stock-based compensation events rather than open-market trades. On February 13, 2026, he received two awards of restricted share units totaling 2,348 and 2,347 units, which vest 25% per year over four years. One award is performance-based, with the ultimate vesting range from 0% to 250% of the target, up to a maximum of 5,867 units depending on multi-year performance goals.
On February 14, 16, and 17, 2026, previously granted restricted share units from 2023–2025 vested and were converted into common shares at no exercise price, increasing his direct common share holdings. On those same dates, the company withheld 148, 139, 562, and 101 common shares at prices around $160–$161 per share to cover tax obligations, which is recorded as a disposal but does not represent an open-market sale.
Positive
- None.
Negative
- None.
Insider Trade Summary
3,734 shares exercised/converted
Mixed
14 txns
Insider
RIVARD PHILIP
Role
SR VP Business Development
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Share Units | 413 | $0.00 | -- |
| Exercise | Restricted Share Units | 2,306 | $0.00 | -- |
| Exercise | Common Shares | 2,306 | $0.00 | -- |
| Tax Withholding | Common Shares | 562 | $161.28 | $91K |
| Exercise | Common Shares | 413 | $0.00 | -- |
| Tax Withholding | Common Shares | 101 | $161.28 | $16K |
| Exercise | Restricted Share Units | 519 | $0.00 | -- |
| Exercise | Common Shares | 519 | $0.00 | -- |
| Tax Withholding | Common Shares | 139 | $160.26 | $22K |
| Exercise | Restricted Share Units | 496 | $0.00 | -- |
| Exercise | Common Shares | 496 | $0.00 | -- |
| Tax Withholding | Common Shares | 148 | $160.26 | $24K |
| Grant/Award | Restricted Share Units | 2,348 | $0.00 | -- |
| Grant/Award | Restricted Share Units | 2,347 | $0.00 | -- |
Holdings After Transaction:
Restricted Share Units — 413 shares (Direct);
Common Shares — 3,096 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. 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 5,867 (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 Waste Connections (WCN) report for Philip Rivard?
Waste Connections reported restricted share unit grants and vesting-related share conversions for Philip Rivard, plus share withholdings for taxes. These events reflect stock-based compensation mechanics, not open-market buying or selling of Waste Connections common shares by the executive.
Were Philip Rivard’s Waste Connections (WCN) transactions open-market stock sales?
The reported transactions were not open-market stock sales. They involved conversions of restricted share units into common shares at no exercise price and shares withheld by Waste Connections to satisfy tax obligations upon vesting, which are recorded as dispositions for tax-withholding purposes.
How does the performance-based RSU award work for Waste Connections (WCN) executive Philip Rivard?
The performance-based restricted share unit award uses a three-year performance period with defined goals. Depending on Waste Connections’ results, 0% to 250% of the target units may vest, with a maximum of 5,867 units, as determined by the company’s Compensation Committee after the performance period.