Waste Connections (WCN) SVP reports new RSU awards and vesting
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Waste Connections, Inc. senior vice president Susan Netherton reported multiple equity compensation events, mainly restricted share unit (RSU) awards vesting into common shares and related tax withholding.
On February 13, 2026, she received two RSU awards of 2,097 units each. One time-based award vests 25% per year over four years, while a performance-based award has a target of 2,097 units and can vest between 0% and 250% of target, with a stated maximum of 5,242 units.
Between February 14 and 17, 2026, several existing RSU grants vested and converted into common shares in four equal annual installments or at the end of a three-year performance period, reflecting earlier grants from 2023–2025. As these RSUs vested, common shares were delivered and a portion of those shares—such as 208 and 1,160 shares at $161.28 per share and 202 and 200 shares at $160.26 per share—were withheld by the company to cover tax obligations, rather than sold in open market transactions.
Positive
- None.
Negative
- None.
Insider Trade Summary
4,389 shares exercised/converted
Mixed
14 txns
Insider
Netherton Susan
Role
SR VP People, Training & Dev
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Share Units | 528 | $0.00 | -- |
| Exercise | Restricted Share Units | 2,946 | $0.00 | -- |
| Exercise | Common Shares | 528 | $0.00 | -- |
| Tax Withholding | Common Shares | 208 | $161.28 | $34K |
| Exercise | Common Shares | 2,946 | $0.00 | -- |
| Tax Withholding | Common Shares | 1,160 | $161.28 | $187K |
| Exercise | Restricted Share Units | 468 | $0.00 | -- |
| Exercise | Common Shares | 468 | $0.00 | -- |
| Tax Withholding | Common Shares | 202 | $160.26 | $32K |
| Exercise | Restricted Share Units | 447 | $0.00 | -- |
| Exercise | Common Shares | 447 | $0.00 | -- |
| Tax Withholding | Common Shares | 200 | $160.26 | $32K |
| Grant/Award | Restricted Share Units | 2,097 | $0.00 | -- |
| Grant/Award | Restricted Share Units | 2,097 | $0.00 | -- |
Holdings After Transaction:
Restricted Share Units — 528 shares (Direct);
Common Shares — 12,767 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 5,242 (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 Susan Netherton report in this Form 4 filing?
Susan Netherton reported RSU awards and vesting events that delivered common shares. Several restricted share unit grants vested into common stock, and some of those shares were withheld by Waste Connections to satisfy tax liabilities associated with the equity compensation.
What performance conditions apply to Susan Netherton’s performance-based RSUs at Waste Connections (WCN)?
The performance-based RSUs have a three-year performance period, with vesting from 0% to 250% of target. The maximum that may vest is 5,242 units, depending on how Waste Connections meets defined performance goals over that period.
How did prior RSU grants for Susan Netherton at Waste Connections (WCN) vest in this filing?
RSUs granted in 2023, 2024, and 2025 vested in equal annual installments or at the end of a three-year performance period. Upon vesting, the units converted into common shares, which are now reflected in Netherton’s reported direct ownership.
What role does Susan Netherton hold at Waste Connections (WCN) in this Form 4?
Susan Netherton is identified as Senior Vice President, People, Training & Development. The Form 4 reports her equity compensation activity, including RSU grants, vesting into common shares, and shares withheld to satisfy related tax obligations.