Waste Management (NYSE: WM) Executive Vice President and Chief Financial Officer David L. Reed recorded two small sales of the companys common stock in late February 2026, according to a Form 4 filing with the Securities and Exchange Commission.
On February 26, 2026, Reed sold 37 shares at a price of $229.6728 per share, generating proceeds of $8,497. The filing states that this transaction was executed to meet a personal federal income tax obligation and was made pursuant to a Rule 10b5-1 trading plan.
The day prior, on February 25, Reed disposed of 60 shares of common stock at $228.48 per share, for total proceeds of $13,708. That transaction is described in the filing as the settlement of a restricted share award previously granted under the Waste Management, Inc. 2023 Stock Incentive Plan.
Taken together, the two transactions account for 97 shares sold across two days. Following these disposals, Reed is reported to directly own 8,745.6057 shares of Waste Management common stock.
Market context included in the filing indicates Waste Management shares have been trading near their 52-week high of $242.58, with the stock quoted at $238.66 at the time of the report. Independent analysis cited in the filing notes the shares appear overvalued at current levels, trading at a price-to-earnings ratio of 35.5 times earnings. The company is described as a roughly $96 billion waste services provider with a dividend yield of 1.4%.
Also noted in the filing was Waste Managements most recent quarterly performance. The company reported fourth-quarter 2025 earnings with an earnings-per-share (EPS) result of $1.93, narrowly missing the consensus expectation of $1.95 and producing an earnings surprise of -1.03%. Revenue for the quarter totaled $6.31 billion, short of the $6.39 billion estimate.
The filing did not report any major mergers or acquisitions in the period, nor did it record any recent analyst upgrades or downgrades. It emphasized that the earnings announcement is a key moment for investors assessing the companys financial position.
These insider transactions are limited in scale and are described in the SEC filing as either tax-related or as the routine settlement of equity awards. The record indicates Reed continues to hold a material position in Waste Management following the sales.