Form 4: Waste Connections Inc. Executive Acquires Shares Under Employee Share Purchase Plan

Domenic Pio, Senior VP of Operations at Waste Connections, acquired 63 common shares under the company's Employee Share Purchase Plan (ESPP) on December 31, 2024.

Summary

• On December 31, 2024, Domenic Pio, a Senior VP of Operations at Waste Connections, Inc., acquired 63 common shares through the company's Employee Share Purchase Plan (ESPP).
• The shares were purchased at a price of $163 per share.
• This acquisition increased Pio's direct holdings to 13,865 common shares.
• The ESPP offering period was from July 1, 2024, to December 31, 2024.
• The purchase price was 95% of the closing price on the Toronto Stock Exchange on December 31, 2024, which was CAD $246.60.
• The Canadian dollar amounts were converted to U.S. dollars using the Bank of Canada's daily average exchange rate on December 31, 2024, where CAN $1 = US $0.695.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The transaction reflects an executive's participation in a standard employee benefit program, indicating confidence in the company's stock.

Positives

• Executive participation in the ESPP demonstrates confidence in the company's future.

Industry Context

Insider transactions are routinely monitored as indicators of management's perspective on the company's valuation and prospects. ESPPs are common compensation tools.

Comparison to Industry Standards

• ESPPs are a fairly standard benefit offered by many publicly traded companies, including Waste Connections' competitors such as Republic Services (RSG) and Waste Management (WM).
• The discount of 5% from the market price is also a common feature of ESPPs.
• Executive participation in ESPPs is generally viewed positively, as it aligns management's interests with those of shareholders.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it signals management's confidence in the company.

Key Dates