Form 4: Waste Management CEO Sells Shares Under 10b5-1 Plan

Waste Management CEO James C. Fish Jr. sold over 36,000 shares of common stock in early February 2026 under a pre-arranged 10b5-1 trading plan.

Summary

• James C. Fish Jr., Chief Executive Officer of Waste Management Inc. (WM), reported sales of common stock.
• The transactions were executed pursuant to a Rule 10b5-1(c) contract, instruction, or written plan.
• On February 6, 2026, 657 shares were sold at a price of $230.00 per share.
• On February 9, 2026, 30,390 shares were sold at a weighted average price of $230.363 per share, with trades ranging from $230.00 to $230.6300.
• On February 10, 2026, 5,706 shares were sold at a weighted average price of $230.865 per share, with trades ranging from $230.5500 to $231.6800.
• Following these transactions, James C. Fish Jr. directly beneficially owns 220,087 shares of common stock.
• Indirect beneficial ownership includes 4,337.6147 shares via a 401(k) Plan, 1,046 shares each in two 2018 Annual Exclusion Trusts, and 46,943 and 46,942 shares in The Nicole M Fish GST Trust and The Stephanie M Fish GST Trust, respectively.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event. The sale is a routine insider transaction executed under a pre-arranged 10b5-1 plan, which typically does not signal a change in the company's fundamental outlook.

Future Outlook

No forward-looking statements or guidance were provided in this filing, which is solely an insider transaction report.

Industry Context

StockSavvy.ai notes that insider sales executed under Rule 10b5-1 plans are common for executive financial planning, such as diversification or liquidity management. These pre-arranged plans typically reduce the implication that the sale is based on new, non-public information about the company's future performance, distinguishing them from opportunistic open-market sales.

Stakeholder Impact

• Shareholders: The sale represents a minor reduction in direct insider ownership, but its execution under a 10b5-1 plan suggests it is for personal financial planning rather than a reflection of management's view on the company's prospects.

Key Dates

Recommendation

The reported transactions are routine insider sales by the CEO under a pre-arranged 10b5-1 plan. Such sales are typically for personal financial management and do not inherently signal a change in the company's fundamental prospects or warrant a shift in investment thesis. Therefore, a 'hold' recommendation is appropriate as this filing does not provide new information to alter the existing investment outlook for Waste Management Inc.

Keywords

Waste Management, WM, Form 4, Insider Sale, CEO, James C. Fish Jr., 10b5-1 Plan, Stock Transaction