WM executive exercises options and sells shares

Waste Management Sr.

Accepted by SEC EDGAR 02/17/2026 - 02:49 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Waste Management Sr. VP of Operations Donald J. Smith reported exercising stock options and selling shares of common stock. On 02/17/2026, he exercised options for 2,465 shares at $126.005 per share and 2,377 shares at $110.81 per share, receiving common stock.

That same day he sold 4,842 shares and 7,352 shares of common stock in open-market transactions at $233.48 per share. After these transactions, he held 6,024 shares directly and 4,716.2086 shares indirectly through a 401(k) plan.

Insider Trade Summary

Exercise and sale activity reported; no spread calculated

Exercise and Sale 6 txns

Insider Smith Donald J

Role Sr. VP - Operations

Sold 12,194 shs ($2.85M)

Approx. gross sale proceeds $2.85M

Approx. exercise cost $574K

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to Buy)	2,465	$126.005	$311K
Exercise	Stock Option (Right to Buy)	2,377	$110.81	$263K
Exercise	Common Stock	2,465	$126.005	$311K
Exercise	Common Stock	2,377	$110.81	$263K
Sale	Common Stock	4,842	$233.48	$1.13M
Sale	Common Stock	7,352	$233.48	$1.72M
Holding	Common Stock	--	--	--

Holdings After Transaction: Stock Option (Right to Buy) — 0 contracts (Direct); Common Stock — 6,024 shares (Direct); Common Stock — 4,716.2086 shares (Indirect, By 401(k) Plan)

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did WM Sr. VP Donald J. Smith report?

Donald J. Smith reported exercising stock options and selling Waste Management common shares on 02/17/2026. He converted options into stock, then executed two open-market sales on the same day as part of his personal equity activity.

How many Waste Management (WM) shares did Donald J. Smith sell?

He sold 4,842 and 7,352 shares of Waste Management common stock on 02/17/2026. Both transactions were reported with transaction code “S,” indicating open-market or private sales under SEC Form 4 rules.

At what prices were the WM stock option exercises and sales reported?

Smith exercised options at $126.005 and $110.81 per share, then reported stock sales at $233.48 per share. The option exercise prices reflect his cost basis, while the higher sale price shows the value realized in the open-market transactions.

How many Waste Management shares does Donald J. Smith hold after these transactions?

Following the reported trades, Smith directly owned 6,024 Waste Management common shares. He also had 4,716.2086 additional shares held indirectly through a 401(k) plan, reflecting retirement-related ownership separate from his direct holdings.

What derivative securities did the WM executive exercise on 02/17/2026?

Smith exercised two stock option awards, each a right to buy Waste Management common stock. One covered 2,465 shares at $126.005, the other 2,377 shares at $110.81, both expiring in 2030 and 2031 respectively, and reported with transaction code “M.”

Is the Donald J. Smith Form 4 filing a buy or a sell signal for WM?

The filing shows both option exercises and stock sales, not a pure buy or sell signal. He converted options into shares and then sold part of his holdings while retaining direct and 401(k) shares in Waste Management.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Smith Donald J

(Last) (First) (Middle)

800 CAPITOL STREET, SUITE 3000

(Street)

HOUSTON TX 77002

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
WASTE MANAGEMENT INC [ WM ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Sr. VP - Operations

3. Date of Earliest Transaction (Month/Day/Year)
02/17/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	02/17/2026		M		2,465	A	$126.005	15,841	D
Common Stock	02/17/2026		M		2,377	A	$110.81	18,218	D
Common Stock	02/17/2026		S		4,842	D	$233.48	13,376	D
Common Stock	02/17/2026		S		7,352	D	$233.48	6,024	D
Common Stock								4,716.2086	I	By 401(k) Plan

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to Buy)	$126.005	02/17/2026		M			2,465	02/19/2021	02/19/2030	Common Stock	2,465	$126.005	0.0000	D
Stock Option (Right to Buy)	$110.81	02/17/2026		M			2,377	02/23/2022	02/23/2031	Common Stock	2,377	$110.81	0.0000	D

Explanation of Responses:

	Courtney Tippy, Attorney-in-fact	02/17/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.