WM insider ownership: who sold, why, and what they still hold

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
John Carroll VP & Chief Accounting Officer	1,365	$219.90	n/a	n/a	Sep 4, 2026	Sep 8, 2026

What stands out

Two officers sold more than 25% of vested holdings: Michael Watson (38% of holdings, $4.3M, all under a disclosed plan) and Rafael Carrasco (71% of holdings, $2.8M, 5.5% under a disclosed plan).Michael Watson: largest sale, Mar 2, 2026 · Rafael Carrasco: largest sale, Feb 13, 2026

Sean Menke bought 2K shares for $393K, first on Nov 3, 2025. These are the first by current officers or directors since Jun 28, 2016.Purchase, Nov 3, 2025

Four officers sold shares but ended with larger stakes, because more shares came in than were sold: James Fish Jr. (sold 37K, 11% of starting holdings; 60K added), John Morris (sold 13K, 13% of starting holdings; 22K added) and Tara Hemmer (sold 5.5K, 7.1% of starting holdings; 14K added), plus 1 more.James Fish Jr.: largest sale, Feb 9, 2026 · John Morris: largest sale, Mar 6, 2026 · Tara Hemmer: largest sale, Mar 2, 2026

Percentages cover 15 of 22 officers and directors. 7 are left out

Left out: Donald Smith and David Reed (most of their shares vested during the period, so a percentage would mislead); Christopher DeSantis, Johnson Varkey, John Carroll, Sean Menke and Kimberly Stith (holdings couldn't be fully reconciled).

Disclosed company stock is not an insider's whole wealth.

Who sold, and how much of their stake

Officers and directors, past 12 months. Each bar is 100% of that person's own stake; not comparable between people. The stake is the vested shares held at the start of the period (Oct 9, 2025); the gold part is what they sold.

SoldRest of starting stakeAdded during the period

James Fish Jr.

Chief Executive Officer

11% · $8.5MDisclosed plan

Michael Watson

Sr. VP-Chief Customer Officer

Sold 38%, but 13K shares were added (mostly vesting), so the stake grew

38% · $4.3MDisclosed plan

John Morris

President

Sold 13%, but 5.5K shares were added (mostly vesting), so the stake grew

13% · $3.1MDisclosed plan

Donald Smith

Sr. VP - Operations

Sold $3.0M (plan status beside the amount). That is 55% of the shares held or received (after tax withholding) during the period†. A share of the starting stake is not shown: most of these shares arrived during the period. Why

$3.0MDisclosed plan

Rafael Carrasco

SVP of Enterprise Strategy

71% · $2.8M5% planned 95% no plan disclosed

All 12 sellers

Selling by month

Officers and directors, Oct 2025 to Oct 2026. Each sale is counted once: under a disclosed plan, else to cover taxes, else no plan disclosed.

Disclosed planNo plan disclosedOne dollar scale for every month; the tallest bar is labeled

Common questions

Is the Waste Management CEO selling stock?

Yes. James Fish Jr. sold 37K shares ($8.5M, 11% of starting holdings) in the past 12 months, all of it under a trading plan disclosed in the filings.

Why are Waste Management insiders selling?

Filings rarely give a reason, and we don't guess at one. What they show is how the sales were made: 86% of sales by value ran under 10b5-1 trading plans disclosed in the filings and 14% had no disclosed plan. A trading plan schedules sales in advance.

Are any Waste Management insiders buying?

Yes. 1 officer or director reported 1 purchase in the past 12 months (Form 4 code P, which includes private purchases).

How much of their stake did Waste Management insiders sell?

About 11% overall. As a group they ended with more shares than they started with. That covers the 12 months to Oct 9, 2026 and counts vested shares reported on SEC Forms 3, 4 and 5, which is not an insider's whole wealth.

The evidence

Who sold12 officers and directors: amount, % of holdings, trading plan

Who sold	Amount	% of holdings	Trading plan
James Fish Jr. Chief Executive Officer	$8.5M 37K shares	11%	Disclosed plan
Michael Watson Sr. VP-Chief Customer Officer	$4.3M 18K shares	38%	Disclosed plan
John Morris President	$3.1M 13K shares	13%	Disclosed plan
Donald Smith Sr. VP - Operations	$3.0M 13K shares	55%† i † Most of the shares Donald Smith sold arrived during the period, so this is shares sold as a share of the 11K held at the start plus the 17K received, less 4.2K withheld by the company for taxes.	Disclosed plan
Rafael Carrasco SVP of Enterprise Strategy	$2.8M 12K shares	71%	5% under a disclosed plan 95% no plan disclosed
Tara Hemmer EVP & Chief Operating Officer	$1.3M 5.5K shares	7.1%	Disclosed plan
John Carroll VP & Chief Accounting Officer	$608K 2.7K shares	i No percentage: holdings couldn't be fully reconciled.	11% under a disclosed plan 89% no plan disclosed
Johnson Varkey SVP-Chief Information Officer	$274K 1.2K shares	i No percentage: holdings couldn't be fully reconciled.	45% under a disclosed plan 55% no plan disclosed
Charles Boettcher EVP, Chief Legal Officer	$151K 689 shares	1.4%	Disclosed plan
David Reed EVP & CFO	$91K 403 shares	3%† i † Most of the shares David Reed sold arrived during the period, so this is shares sold as a share of the 5.2K held at the start plus the 9.7K received, less 656 withheld by the company for taxes.	Disclosed plan
Christopher DeSantis SVP Operations - East	$62K 276 shares	i No percentage: holdings couldn't be fully reconciled.	Disclosed plan
Kimberly Stith SVP - Chief HR Officer	$40K 178 shares	i No percentage: holdings couldn't be fully reconciled.	Disclosed plan

The full ownership picture17 of 22 insiders fully reconciled · 22 officers and directors

Vested shares across all share classes, held directly and through trusts, LLCs and family members, as reported on SEC Forms 3, 4 and 5. Unvested awards and options are never counted as owned shares.

Insider

Held Oct 9, 2025

Sold

Held Oct 9, 2026

Still held

James Fish Jr.

Minor difference of 60 shares. Difference is under 0.5% of holdings. Includes unvested RSUs, amount not disclosed.

Chief Executive Officer

320K

−37K

320K

100%

Vesting, gifts, unvested awards and holding lines for James Fish Jr.

0shares vested or exercised

0gifted (net of own trusts)

−23Kwithheld by the company for taxes

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	220,087	220,087
Nicole M Fish GST Trust	Common Stock	46,943	46,943
Stephanie M Fish GST Trust	Common Stock	46,942	46,942
401(k) Plan	Common Stock	4,278	4,338
Fish 2018 Annual Exclusion Trust 1	Common Stock	1,046	1,046
Fish 2018 Annual Exclusion Trust 2	Common Stock	1,046	1,046

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
19,805	$150.12	Mar 7, 2033	$1.4M
45,349	$204.76	Mar 1, 2034	$687K
50,580	$231.19	Feb 25, 2035	$0
57,034	$241.55	Mar 3, 2036	$0

Estimate: options held × ($219.90 − strike price), using the most recent insider trade price on Form 4 (Sep 4, 2026), not a market close.

Reconciliation: minor difference of 60 shares. Difference is under 0.5% of holdings.

John Morris

Minor difference of 36 shares. Difference is under 0.5% of holdings. Includes unvested RSUs, amount not disclosed.

President

99K

−13K

102K

+2.7%

Vesting, gifts, unvested awards and holding lines for John Morris

+5.5Kshares vested or exercised

0gifted (net of own trusts)

−6.4Kwithheld by the company for taxes

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	96,683	99,363
401(k) Plan	Common Stock	2,412	2,449

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
13,721	$204.76	Mar 1, 2034	$208K
13,066	$231.19	Feb 25, 2035	$0
19,011	$241.55	Mar 3, 2036	$0

Estimate: options held × ($219.90 − strike price), using the most recent insider trade price on Form 4 (Sep 4, 2026), not a market close.

Reconciliation: minor difference of 36 shares. Difference is under 0.5% of holdings.

Devina Rankin

Includes unvested RSUs, amount not disclosed.

EVP & CFO

84K

no sales

Vesting, gifts, unvested awards and holding lines for Devina Rankin

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	83,934	83,934

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
4,672	$150.12	Mar 7, 2033	$326K
7,132	$204.76	Mar 1, 2034	$108K
11,380	$231.19	Feb 25, 2035	$0

Estimate: options held × ($219.90 − strike price), using the most recent insider trade price on Form 4 (Sep 4, 2026), not a market close.

Tara Hemmer

Includes unvested RSUs, amount not disclosed.

EVP & Chief Operating Officer

78K

−5.5K

81K

+4.7%

Vesting, gifts, unvested awards and holding lines for Tara Hemmer

0shares vested or exercised

−693gifted (net of own trusts)

−3.7Kwithheld by the company for taxes

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	77,816	81,462

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
9,302	$204.76	Mar 1, 2034	$141K
8,851	$231.19	Feb 25, 2035	$0
8,405	$241.55	Mar 3, 2036	$0

Estimate: options held × ($219.90 − strike price), using the most recent insider trade price on Form 4 (Sep 4, 2026), not a market close.

Charles Boettcher

Minor difference of 109 shares. Difference is under 0.5% of holdings. Includes unvested RSUs, amount not disclosed.

EVP, Chief Legal Officer

50K

−689

56K

+11%

Vesting, gifts, unvested awards and holding lines for Charles Boettcher

0shares vested or exercised

0gifted (net of own trusts)

−4.1Kwithheld by the company for taxes

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	50,468	56,159

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
7,907	$204.76	Mar 1, 2034	$120K
7,587	$231.19	Feb 25, 2035	$0
7,805	$241.55	Mar 3, 2036	$0

Estimate: options held × ($219.90 − strike price), using the most recent insider trade price on Form 4 (Sep 4, 2026), not a market close.

Reconciliation: minor difference of 109 shares. Difference is under 0.5% of holdings.

Michael Watson

Minor difference of 145 shares. Difference is under 0.5% of holdings. Includes unvested RSUs, amount not disclosed.

Sr. VP-Chief Customer Officer

47K

−18K

47K

+0.3%

Vesting, gifts, unvested awards and holding lines for Michael Watson

+13Kshares vested or exercised

0gifted (net of own trusts)

−3.4Kwithheld by the company for taxes

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	44,037	44,146
401(k) Plan	Common Stock	2,577	2,613

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
6,605	$204.76	Mar 1, 2034	$100K
6,744	$231.19	Feb 25, 2035	$0
6,804	$241.55	Mar 3, 2036	$0

Estimate: options held × ($219.90 − strike price), using the most recent insider trade price on Form 4 (Sep 4, 2026), not a market close.

Reconciliation: minor difference of 145 shares. Difference is under 0.5% of holdings.

Victoria Holt

Director

23K

24K

no sales

Vesting, gifts, unvested awards and holding lines for Victoria Holt

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Victoria M. Holt Trust	Common Stock	23,020	23,881

Andres Gluski

Director

18K

no sales

Vesting, gifts, unvested awards and holding lines for Andres Gluski

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	17,522	18,383

Kathleen Mazzarella

Director

17K

18K

no sales

Vesting, gifts, unvested awards and holding lines for Kathleen Mazzarella

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Mazzarella Living Trust	Common Stock	16,962	18,276

Rafael Carrasco

Includes unvested RSUs, amount not disclosed.

SVP of Enterprise Strategy

17K

−12K

16K

92%

Vesting, gifts, unvested awards and holding lines for Rafael Carrasco

+2.7Kshares vested or exercised

0gifted (net of own trusts)

−4.2Kwithheld by the company for taxes

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	16,920	15,540

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
9,302	$204.76	Mar 1, 2034	$141K
8,851	$231.19	Feb 25, 2035	$0
8,405	$241.55	Mar 3, 2036	$0

Estimate: options held × ($219.90 − strike price), using the most recent insider trade price on Form 4 (Sep 4, 2026), not a market close.

Donald Smith

Minor difference of 65 shares. Small increase from a 401(k) plan. Small increase from a 401(k) plan.

Sr. VP - Operations

11K

−13K

11K

not meaningful

Vesting, gifts, unvested awards and holding lines for Donald Smith

+4.8Kshares vested or exercised

0gifted (net of own trusts)

−4.2Kwithheld by the company for taxes

none reportedunvested awards, start → end

Small increase from a 401(k) plan. Filing

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	6,024	6,024
401(k) Plan	Common Stock	4,651	4,716

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
9,302	$204.76	Mar 1, 2034	$141K
8,430	$231.19	Feb 25, 2035	$0
10,006	$241.55	Mar 3, 2036	$0

Estimate: options held × ($219.90 − strike price), using the most recent insider trade price on Form 4 (Sep 4, 2026), not a market close.

Reconciliation: minor difference of 65 shares. Small increase from a 401(k) plan.

Christopher DeSantis

Holdings couldn't be fully reconciled. Balance changed without a matching transaction, and the footnote does not state the amount: +118.6118 shares on Jan 29, 2026 (Direct). See the filing Sales and other transactions for Christopher DeSantis are complete.

SVP Operations - East

n/a

−276

n/a

Vesting, gifts, unvested awards and holding lines for Christopher DeSantis

0shares vested or exercised

0gifted (net of own trusts)

−537withheld by the company for taxes

none reportedunvested awards, start → end

Holdings couldn't be fully reconciled. Balance changed without a matching transaction, and the footnote does not state the amount: +118.6118 shares on Jan 29, 2026 (Direct). The balances below are as reported, not verified totals.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	8,714	9,393

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
2,493	$110.81	Feb 23, 2031	$272K
2,718	$126.00	Feb 19, 2030	$255K
1,626	$145.67	Mar 1, 2032	$121K
1,828	$150.12	Mar 7, 2034	$128K
9,302	$204.76	Mar 1, 2034	$141K
8,430	$231.19	Feb 25, 2035	$0
10,006	$241.55	Mar 3, 2036	$0

Estimate: options held × ($219.90 − strike price), using the most recent insider trade price on Form 4 (Sep 4, 2026), not a market close.

Johnson Varkey

Holdings couldn't be fully reconciled. Balance changed without a matching transaction, and the footnote does not state the amount: +109.2544 shares on Jan 29, 2026 (Direct). See the filing Sales and other transactions for Johnson Varkey are complete.

SVP-Chief Information Officer

n/a

−1.2K

n/a

Vesting, gifts, unvested awards and holding lines for Johnson Varkey

0shares vested or exercised

0gifted (net of own trusts)

−1.1Kwithheld by the company for taxes

none reportedunvested awards, start → end

Holdings couldn't be fully reconciled. Balance changed without a matching transaction, and the footnote does not state the amount: +109.2544 shares on Jan 29, 2026 (Direct). The balances below are as reported, not verified totals.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	8,491	9,101

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
6,957	$110.81	Feb 23, 2031	$759K
7,585	$126.00	Feb 19, 2030	$712K
4,539	$145.67	Mar 1, 2032	$337K
3,656	$150.12	Mar 7, 2034	$255K
6,977	$204.76	Mar 1, 2034	$106K
6,744	$231.19	Feb 25, 2035	$0
6,404	$241.55	Mar 3, 2036	$0

Estimate: options held × ($219.90 − strike price), using the most recent insider trade price on Form 4 (Sep 4, 2026), not a market close.

John Carroll

Holdings couldn't be fully reconciled. Balance changed with no matching transaction and no footnote: +112.168 shares on Sep 4, 2026 (Direct). See the filing Sales and other transactions for John Carroll are complete.

VP & Chief Accounting Officer

n/a

−2.7K

n/a

Vesting, gifts, unvested awards and holding lines for John Carroll

0shares vested or exercised

0gifted (net of own trusts)

−505withheld by the company for taxes

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Holdings couldn't be fully reconciled. Balance changed with no matching transaction and no footnote: +112.168 shares on Sep 4, 2026 (Direct). The balances below are as reported, not verified totals.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	8,420	4,222
Jjc Cache Llc	Common Stock	0	3,509

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
1,860	$204.76	Mar 1, 2034	$28K

Estimate: options held × ($219.90 − strike price), using the most recent insider trade price on Form 4 (Sep 4, 2026), not a market close.

William Plummer

Director

7.5K

8.4K

no sales

Vesting, gifts, unvested awards and holding lines for William Plummer

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	4,369	4,369
TPO Collectibles LLC	Common Stock	3,170	4,031

Sean Menke

Holdings couldn't be fully reconciled. Balance changed with no matching transaction and no footnote: +5,314 shares on Nov 3, 2025 (ASM Assets, LP). See the filing Sales and other transactions for Sean Menke are complete.

Director

n/a

Vesting, gifts, unvested awards and holding lines for Sean Menke

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Holdings couldn't be fully reconciled. Balance changed with no matching transaction and no footnote: +5,314 shares on Nov 3, 2025 (ASM Assets, LP). The balances below are as reported, not verified totals.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	5,314	5,314
ASM Assets, LP	Common Stock	0	7,314
Polaris Senior Advisors LLC	Common Stock	0	861

David Reed

Minor difference of -4 shares. Difference is under 0.5% of holdings. Includes unvested RSUs, amount not disclosed. Started reporting during the period; starting holdings are from the Form 3.

EVP & CFO

5.2K

−403

8.5K

not meaningful

Vesting, gifts, unvested awards and holding lines for David Reed

0shares vested or exercised

0gifted (net of own trusts)

−656withheld by the company for taxes

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.
Started reporting during the period; starting holdings are from the Form 3.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	5,212	3,137
Cr77 Revocable Trust	Common Stock	0	5,357

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
1,702	$145.67	Mar 1, 2022	$126K
2,285	$150.12	Mar 7, 2033	$159K
1,860	$204.76	Mar 1, 2034	$28K
10,806	$241.55	Mar 3, 2036	$0

Estimate: options held × ($219.90 − strike price), using the most recent insider trade price on Form 4 (Sep 4, 2026), not a market close.

Reconciliation: minor difference of -4 shares. Difference is under 0.5% of holdings.

Maryrose Sylvester

Director

5.9K

no sales

Vesting, gifts, unvested awards and holding lines for Maryrose Sylvester

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Common Stock	5,004	5,865

Kimberly Stith

Holdings couldn't be fully reconciled. Balance changed without a matching transaction, and the footnote does not state the amount: +112.168 shares on Sep 3, 2026 (Direct). See the filing Sales and other transactions for Kimberly Stith are complete.

SVP - Chief HR Officer

n/a

−178

n/a

Vesting, gifts, unvested awards and holding lines for Kimberly Stith

0shares vested or exercised

0gifted (net of own trusts)

−659withheld by the company for taxes

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.

Holdings couldn't be fully reconciled. Balance changed without a matching transaction, and the footnote does not state the amount: +112.168 shares on Sep 3, 2026 (Direct). The balances below are as reported, not verified totals.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	4,089	4,480

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
1,513	$145.67	Mar 1, 2032	$112K
1,341	$150.12	Mar 7, 2033	$94K
1,860	$204.76	Mar 1, 2034	$28K
6,744	$231.19	Feb 25, 2035	$0
6,404	$241.55	Mar 3, 2036	$0

Estimate: options held × ($219.90 − strike price), using the most recent insider trade price on Form 4 (Sep 4, 2026), not a market close.

Marcel Dalby

Includes unvested RSUs, amount not disclosed. Started reporting during the period; starting holdings are from the Form 3.

SVP Bus Optimiz & Collection

3.6K

5.9K

no sales

Vesting, gifts, unvested awards and holding lines for Marcel Dalby

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Includes unvested RSUs, amount not disclosed.
Started reporting during the period; starting holdings are from the Form 3.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct includes unvested RSUs, amount not disclosed	Common Stock	3,610	5,867

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
1,628	$204.76	Mar 1, 2034	$25K

Estimate: options held × ($219.90 − strike price), using the most recent insider trade price on Form 4 (Sep 4, 2026), not a market close.

Bruce Chinn

Director

2.9K

3.7K

no sales

Vesting, gifts, unvested awards and holding lines for Bruce Chinn

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Chinn Family Trust	Common Stock	2,868	3,729

Thomas Bene

Director

2.1K

no sales

Vesting, gifts, unvested awards and holding lines for Thomas Bene

0shares vested or exercised

0gifted (net of own trusts)

none reportedunvested awards, start → end

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Thomas L Bene and Susannah Harkins Bene Revocable Trust	Common Stock	2,126	2,987

17 of 22 insiders fully reconciled: starting holdings plus reported transactions match ending holdings (11 exactly, 6 with a minor or footnoted difference). For 5 we show sales but not holdings; the ! icon on their rows explains why. Percentages cover 15 of 22 officers and directors. Left out: Donald Smith and David Reed (most of their shares vested during the period, so a percentage would mislead); Christopher DeSantis, Johnson Varkey, John Carroll, Sean Menke and Kimberly Stith (holdings couldn't be fully reconciled). "Still held" compares ending with starting vested shares; a plus sign means the holding grew.

What explains the selling$24.2M of sales by plan status, purpose, seller and month

Officer and director open-market sales: $24.2M across 103,442 shares. Plan status and stated purpose are separate questions, and a sale can have both.

By plan status

Disclosed plan · $20.9M · 86%

14%

The lighter segment is sales with no plan disclosed in the filing ($3.3M), including tax-related sales outside a plan.

No plan disclosed · $3.3M

Sales with no 10b5-1 plan and no tax reference in the filing. $2.6M of it is Rafael Carrasco. No plan disclosed is a statement about the filing, not about why the sale happened. Largest such sale: Rafael Carrasco, Feb 13, 2026

Taxes

$1.3M of sales (5.3%) cite tax obligations in their footnotes, $1.3M of them also under a plan. Separately, 52,100 shares ($11.8M) were withheld by the company for taxes, which isn't a market sale. Example: David Reed, Mar 9, 2026

Purchases · 1 buyer (1 trade)

1 officer or director bought shares in this period, in 1 trade(Form 4 code P). Across all their filings on record there are 3 purchase trades.

Seller	Shares sold	Proceeds	Under a disclosed plan	Share of total	Sales dates
James Fish Jr. Chief Executive Officer	37K	$8.5M	100%	35%	Feb 6, 2026 to Feb 10, 2026
Michael Watson Sr. VP-Chief Customer Officer	18K	$4.3M	100%	18%	Jan 30, 2026 to Mar 2, 2026
John Morris President	13K	$3.1M	100%	13%	Jan 30, 2026 to Mar 9, 2026
Donald Smith Sr. VP - Operations	13K	$3.0M	100%	12%	Jan 30, 2026 to Feb 17, 2026
Rafael Carrasco SVP of Enterprise Strategy	12K	$2.8M	5%	11%	Nov 20, 2025 to Jun 5, 2026
Tara Hemmer EVP & Chief Operating Officer	5.5K	$1.3M	100%	5%	Jan 30, 2026 to Mar 2, 2026
John Carroll VP & Chief Accounting Officer	2.7K	$608K	11%	3%	Jan 30, 2026 to Sep 4, 2026
Johnson Varkey SVP-Chief Information Officer	1.2K	$274K	45%	1%	Jan 30, 2026 to Mar 9, 2026
Charles Boettcher EVP, Chief Legal Officer	689	$151K	100%	0.6%	Jan 30, 2026 to Jan 30, 2026
David Reed EVP & CFO	403	$91K	100%	0.4%	Jan 30, 2026 to Mar 9, 2026
Christopher DeSantis SVP Operations - East	276	$62K	100%	0.3%	Jan 30, 2026 to Mar 9, 2026
Kimberly Stith SVP - Chief HR Officer	178	$40K	100%	0.2%	Jan 30, 2026 to Mar 2, 2026

Sales by month

Month	Sale proceeds	Disclosed plan	To cover taxes	No plan disclosed
Oct 2025	$0	$0	$0	$0
Nov 2025	$300K	$0	$0	$300K
Dec 2025	$0	$0	$0	$0
Jan 2026	$1.2M	$1.2M	$0	$0
Feb 2026	$13.3M	$11.3M	$0	$2.0M
Mar 2026	$8.6M	$8.4M	$0	$151K
Apr 2026	$0	$0	$0	$0
May 2026	$0	$0	$0	$0
Jun 2026	$585K	$0	$0	$585K
Jul 2026	$0	$0	$0	$0
Aug 2026	$0	$0	$0	$0
Sep 2026	$300K	$0	$0	$300K
Oct 2026	$0	$0	$0	$0

Is this normal? Selling year by year5 earlier years to compare with

Less than usual: about half of the 5-year average. 12 insiders sold; the average is 12 a year.

12 months ending	Shares sold	Insiders who sold	Proceeds
Oct 9, 2026 Latest 12 months	103K	12	$24.2M
Oct 9, 2025 1 year earlier	185K	13	$42.8M
Oct 9, 2024 2 years earlier	190K	13	$36.3M
Oct 10, 2023 3 years earlier	37K	11	$5.8M
Oct 10, 2022 4 years earlier	205K	11	$33.6M
Oct 10, 2021 5 years earlier	473K	12	$61.3M

Open-market sales (Form 4 code S) by people who were officers or directors, in split-adjusted shares. Earlier years include people who have since left. A sale that an outside holder also reports (a family trust, a fund) is counted with outside holders in every year. Shares, not dollars, are compared, so a change in the stock price doesn't look like a change in selling. Years the filings don't fully cover are shown but left out of the average.

Known gaps and uncertainty5 insiders whose holdings couldn't be fully reconciled

Christopher DeSantis: holdings couldn't be fully reconciled (difference of 119 shares). Balance changed without a matching transaction, and the footnote does not state the amount: +118.6118 shares on Jan 29, 2026 (Direct). Filing, Jan 29, 2026

Footnote: "Settlement of performance share award granted under Waste Management, Inc. 2014 Stock Incentive Plan"

Johnson Varkey: holdings couldn't be fully reconciled (difference of 109 shares). Balance changed without a matching transaction, and the footnote does not state the amount: +109.2544 shares on Jan 29, 2026 (Direct). Filing, Jan 29, 2026

Footnote: "Settlement of performance share award granted under Waste Management, Inc. 2014 Stock Incentive Plan"

John Carroll: holdings couldn't be fully reconciled (difference of 221 shares). Balance changed with no matching transaction and no footnote: +112.168 shares on Sep 4, 2026 (Direct). Filing, Sep 4, 2026

Sean Menke: holdings couldn't be fully reconciled (difference of 5,314 shares). Balance changed with no matching transaction and no footnote: +5,314 shares on Nov 3, 2025 (ASM Assets, LP). Filing, Nov 3, 2025

Kimberly Stith: holdings couldn't be fully reconciled (difference of 221 shares). Balance changed without a matching transaction, and the footnote does not state the amount: +112.168 shares on Sep 3, 2026 (Direct). Filing, Sep 3, 2026

Footnote: "Settlement of restricted share award granted under Waste Management, Inc. 2023 Stock Incentive Plan."

James Fish Jr.: minor difference of 60 shares. Difference is under 0.5% of holdings.

John Morris: minor difference of 36 shares. Difference is under 0.5% of holdings.

Charles Boettcher: minor difference of 109 shares. Difference is under 0.5% of holdings.

Michael Watson: minor difference of 145 shares. Difference is under 0.5% of holdings.

Donald Smith: minor difference of 65 shares. Small increase from a 401(k) plan.

David Reed: minor difference of -4 shares. Difference is under 0.5% of holdings.

External context: we only cite outside events when a documented connection exists. None is shown for this period.

Sources and methodology2,133 filings from SEC EDGAR, and how we read them

All 2,133 Forms 3, 4 and 5 filed for Waste Management (SEC CIK 823768) from Jun 20, 2003 to Sep 8, 2026, retrieved from SEC EDGAR on Oct 9, 2026. Prices are the ones reported in each filing, often weighted averages.

Holdings. Each holding line (a share class plus an owner, such as a trust or LLC) carries its last reported balance forward. Entities first reported during the period start at zero, so transfers between an insider's own trusts don't count as selling. Lines not reported for three years or more are listed separately and left out of totals.

Sales. A sale counts as under a 10b5-1 plan if its footnote cites one or the filing's Rule 10b5-1 box is checked, and as tax-related if its footnote cites tax obligations or sell-to-cover. Shares withheld by the company for taxes are listed separately. Sales with neither attribute are labeled "no plan disclosed".

Full methodology

Former or inactive filers (54)No filing in 18 months; last reported balances, not in any total

Name	Last filed	Last reported balance
Kelly Rooney	Mar 5, 2024	2,220 shares, last reported balance as of Feb 26, 2024
John Pope	Jan 17, 2024	56,461 shares, last reported balance as of Jan 16, 2024
Leslie Nagy	Apr 28, 2023	5,679 shares, last reported balance as of Mar 7, 2023
Thomas Weidemeyer	Jan 17, 2023	62,207 shares, last reported balance as of Jan 15, 2023
Nikolaj Sjoqvist	Apr 29, 2022	39,787 shares, last reported balance as of Apr 28, 2022
Tamla Oates-Forney	Apr 7, 2022	20,495 shares, last reported balance as of Apr 5, 2022
Steve Batchelor	Mar 3, 2022	43,244 shares, last reported balance as of Mar 1, 2022
Frank Clark	Jan 21, 2021	33,004 shares, last reported balance as of Jan 21, 2021
Patrick Gross	Jan 17, 2020	24,942 shares, last reported balance as of Jan 17, 2020
Jeff Harris	Nov 8, 2018	51,490 shares, last reported balance as of Nov 8, 2018
Barry Caldwell	May 8, 2018	20,603 shares, last reported balance as of May 4, 2018
James Trevathan Jr.	Feb 22, 2018	398,038 shares, last reported balance as of Feb 15, 2018
Bradbury Anderson	Jan 18, 2018	23,318 shares, last reported balance as of Jan 15, 2018
Darren Shade	Mar 2, 2017	2,669 shares, last reported balance as of Feb 28, 2017
David Steiner	Feb 1, 2017	1,240,201 shares, last reported balance as of Jul 5, 2016
Robert Reum	Jan 19, 2017	35,387 shares, last reported balance as of Jan 17, 2017
Don Carpenter	Jan 5, 2017	17,899 shares, last reported balance as of Dec 31, 2016
Puneet Bhasin	Aug 11, 2016	42,326 shares, last reported balance as of Aug 10, 2016
Mark Schwartz	Aug 8, 2016	40,061 shares, last reported balance as of Aug 4, 2016
Rick Wittenbraker	Oct 8, 2014	81,654 shares, last reported balance as of Oct 6, 2014
David Aardsma	Sep 22, 2014	49,688 shares, last reported balance as of Feb 19, 2014
Mark Weidman	Aug 22, 2014	57,906 shares, last reported balance as of Aug 21, 2014
William Caesar	Mar 11, 2014	14,108 shares, last reported balance as of Feb 19, 2014
Pastora Cafferty	Dec 18, 2012	21,874 shares, last reported balance as of Dec 17, 2012
Grace Cowan	Aug 24, 2012	668 shares, last reported balance as of Aug 23, 2012
Cherie Rice	Aug 1, 2012	21,211 shares, last reported balance as of Aug 1, 2012
Brett Frazier	Jul 31, 2012	38,759 shares, last reported balance as of Jul 30, 2012
Carl Rush Jr.	Jul 27, 2012	16,494 shares, last reported balance as of Mar 9, 2012
Greg Robertson	Mar 12, 2012	34,796 shares, last reported balance as of Mar 9, 2012
Duane Woods	Mar 12, 2012	77,391 shares, last reported balance as of Mar 2, 2012
Steven Preston	Mar 12, 2012	No balance on record
Steven Rothmeier	Jan 23, 2012	20,116 shares, last reported balance as of Jan 17, 2012
Robert Simpson	Mar 10, 2011	110,033 shares, last reported balance as of Sep 21, 2010
Patrick DeRueda	Mar 10, 2011	31,515 shares, last reported balance as of Feb 16, 2010
Michael Romans	Mar 10, 2011	16,062 shares, last reported balance as of Feb 16, 2010
Lawrence Odonnell III	Mar 11, 2010	282,594 shares, last reported balance as of Feb 17, 2010
Lynn Caddell	Feb 19, 2009	28,412 shares, last reported balance as of Feb 17, 2009
Thomas Morgan	Jan 16, 2008	2,554 shares, last reported balance as of Jan 15, 2008
David Hopkins	Mar 6, 2007	60,830 shares, last reported balance as of Mar 4, 2007
Jimmy Lavalley	Jan 23, 2007	21,644 shares, last reported balance as of Jan 21, 2007
Richard Felago	Jan 12, 2007	26,249 shares, last reported balance as of Mar 4, 2006
James Schultz	Jan 12, 2007	16,224 shares, last reported balance as of Oct 28, 2006
Charles Williams	Nov 17, 2006	80,341 shares, last reported balance as of Nov 17, 2006
Drennan Lowell	Mar 7, 2006	16,556 shares, last reported balance as of Mar 4, 2006
Robert Damico	Jan 31, 2006	94,927 shares, last reported balance as of Jan 27, 2006
Robert Miller	Jul 18, 2005	31,726 shares, last reported balance as of Jun 4, 2004
Carl Vogt	Mar 15, 2005	24,819 shares, last reported balance as of Mar 15, 2005
Domenic Pio	Mar 8, 2005	13,894 shares, last reported balance as of Mar 4, 2005
Steven Ragiel	Feb 2, 2005	28,900 shares, last reported balance as of Feb 1, 2005
Maurice Myers	Aug 18, 2004	422,500 shares, last reported balance as of Aug 16, 2004
William Trubeck	Jul 2, 2004	41,363 shares, last reported balance as of May 14, 2004
Charles Wilcox	Mar 8, 2004	80,933 shares, last reported balance as of Mar 4, 2004
Ralph Whitworth	Jan 16, 2004	No balance on record
Ronald Jones	Jan 5, 2004	No balance on record

Spotted something wrong on this page? Report an error. We check every report against the SEC filing and list what we fix in the corrections log.

Waste Management insiders sold $24.2M in the past 12 months. How much of their stake is that?

What stands out

Who sold, and how much of their stake

Selling by month

Common questions

Is the Waste Management CEO selling stock?

Why are Waste Management insiders selling?

Are any Waste Management insiders buying?

How much of their stake did Waste Management insiders sell?

The evidence

No plan disclosed · $3.3M

Taxes

Purchases · 1 buyer (1 trade)

Sales by month