Form 4: Republic Services Director Receives Stock Award

Manuel Kadre, a director at Republic Services, received 1,150 restricted stock units (RSUs) as part of an annual award.

Summary

• Manuel Kadre, a director at Republic Services, received 1,150 restricted stock units (RSUs) on January 2, 2025.
• The RSUs were granted as part of the company's 2021 Stock Incentive Plan.
• The grant was valued at $230,000, with the number of RSUs determined by the closing stock price of $200.09 on the grant date.
• The RSUs vest immediately but cannot be converted to common stock until January 31, 2028, or when the director leaves the board, unless deferred.
• The director has elected to defer the conversion of the RSUs.

Sentiment

Score: 7

Explanation: The document reflects a routine director compensation event, which is generally positive for aligning interests but not a major market-moving event.

Positives

• The grant of RSUs aligns the director's interests with those of the shareholders.
• The immediate vesting of the RSUs is a positive incentive for the director.

Future Outlook

The director's RSUs will convert to common stock on January 31, 2028, or when the director leaves the board, unless deferred.

Industry Context

This type of equity compensation is common for directors of publicly traded companies to align their interests with shareholders.

Comparison to Industry Standards

• Equity grants to directors are a standard practice across the industry, with the specific terms varying by company.
• Companies like Waste Management (WM) and Clean Harbors (CLH) also use equity-based compensation for their directors, often with similar vesting and deferral provisions.
• The value of the grant is within the typical range for director compensation at companies of similar size and market capitalization.

Stakeholder Impact

• The RSU grant aligns the director's interests with shareholders, which is generally positive.
• The grant has no immediate impact on employees, customers, or suppliers.

Key Dates

Keywords

Restricted Stock Units, RSU, Stock Incentive Plan, Director Compensation, Republic Services, Equity Award, Deferred Compensation