Form 4: Republic Services Director Exercises Restricted Stock Units
SEC Form 4 Filing
A Republic Services director, Katharine Weymouth, converted restricted stock units into common stock on January 31, 2025.
Summary
- Katharine Weymouth, a director at Republic Services, converted 1,775 restricted stock units (RSUs) granted on January 3, 2022, into common stock on January 31, 2025.
- These RSUs included dividend equivalents and were part of the company's 2021 Stock Incentive Plan.
- Additionally, Weymouth converted 2,608 RSUs, granted on January 4, 2021, into common stock on the same date.
- These RSUs, including dividend equivalents, were deferred into the company's Deferred Compensation Plan (DCP) and were distributed as a scheduled payment.
- Both RSU conversions were at a 1-to-1 ratio to common stock.
Sentiment
Score: 7
Explanation: The document reflects a routine transaction related to director compensation, which is neither positive nor negative for the company's overall performance. It is a standard practice and does not indicate any significant change in the company's outlook.
Positives
- The conversion of RSUs to common stock indicates the director's continued alignment with the company's performance.
- The vesting and conversion of RSUs are part of standard compensation practices for directors.
Industry Context
This is a standard SEC Form 4 filing related to the conversion of restricted stock units by a company director, which is a common practice in corporate compensation.
Comparison to Industry Standards
- The use of Restricted Stock Units (RSUs) as part of director compensation is a common practice across publicly traded companies.
- The vesting and conversion schedules described are typical for RSU grants.
- Many companies, such as Waste Management (WM) and Clean Harbors (CLH), also use similar equity-based compensation plans for their directors and executives.
Stakeholder Impact
- The conversion of RSUs to common stock has a minor dilutive effect on existing shareholders, but this is a standard part of the company's compensation plan.
Key Dates
| Date | Description |
|---|---|
| 01/04/2021 | Date of grant for 2,459 Restricted Stock Units (RSUs) under the 2007 Stock Incentive Plan, which were deferred into the Deferred Compensation Plan (DCP). |
| 01/03/2022 | Date of grant for 1,699 Restricted Stock Units (RSUs) under the 2021 Stock Incentive Plan. |
| 01/31/2025 | Date of conversion of 1,775 and 2,608 Restricted Stock Units (RSUs) into common stock. |
| 02/03/2025 | Date of filing of the SEC Form 4. |
Keywords
Restricted Stock Units, RSU, Director, Republic Services, Stock Incentive Plan, Deferred Compensation Plan, Common Stock, Beneficial Ownership
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