Form 4: Waste Management Director Thomas Bene Acquires Shares Through Stock Award

Waste Management Inc. Director Thomas Bene acquired 696 shares of common stock as a stock award under the company's 2023 Stock Incentive Plan, increasing his indirect beneficial ownership.

Summary

• Thomas Bene, a Director of Waste Management Inc. (WM), acquired 696 shares of common stock.
• The transaction occurred on July 15, 2025, at a price of $227.445 per share.
• The acquisition was a stock award granted pursuant to the Waste Management, Inc. 2023 Stock Incentive Plan.
• Following this transaction, Thomas Bene beneficially owns 2,126 shares indirectly through the Thomas L Bene and Susannah Harkins Bene Revocable Trust.

Sentiment

Score: 7

Explanation: The sentiment is positive for the reporting person as they received a stock award, which is a form of compensation and increases their stake in the company. For the company, it's a neutral event as it's a standard compensation practice.

Positives

• The stock award aligns the director's interests with those of the shareholders, as his compensation is tied to the company's equity performance.
• The acquisition of shares by a director demonstrates continued confidence in the company's future prospects.

Negatives

• The issuance of new shares, even as a stock award, results in minor dilution for existing shareholders.

Future Outlook

This filing is a record of an insider transaction and does not contain forward-looking statements or guidance regarding the company's future performance.

Industry Context

This specific insider transaction is a routine compensation event for a director and does not provide broader insights into Waste Management's competitive position or industry trends within the waste management sector.

Related Party Transactions

• The stock award to Director Thomas Bene is a transaction between the company and a related party (an insider), conducted under the Waste Management, Inc. 2023 Stock Incentive Plan as a form of compensation.

Stakeholder Impact

• Shareholders: Experience minor dilution due to the issuance of new shares for the stock award, but the transaction aligns director interests with shareholder value.
• Director (Thomas Bene): Benefits from increased equity ownership and compensation.

Key Dates

Keywords

Waste Management, WM, Thomas Bene, Director, Stock Award, Insider Transaction, SEC Form 4, Equity Compensation, Beneficial Ownership