Patrick James Shea - 14 Feb 2022 Form 4 Insider Report for Waste Connections, Inc. (WCN)

Role
Exec VP, General Counsel & Sec
Signature
Patrick James Shea
Issuer symbol
WCN
Transactions as of
14 Feb 2022
Net transactions value
-$63,569
Form type
4
Filing time
16 Feb 2022, 16:06:27 UTC
Previous filing
11 Feb 2022
Next filing
23 Feb 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction WCN Common Shares Options Exercise $0 +1,091 +6.6% $0.000000 17,511 14 Feb 2022 Direct
transaction WCN Common Shares Tax liability $36,539 -306 -1.7% $119.41 17,205 14 Feb 2022 Direct F1
transaction WCN Common Shares Options Exercise $0 +927 +5.4% $0.000000 18,132 15 Feb 2022 Direct
transaction WCN Common Shares Tax liability $27,030 -226 -1.2% $119.60 17,906 15 Feb 2022 Direct F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction WCN Performance Share Units Options Exercise $0 -1,091 -33% $0.000000 2,181 14 Feb 2022 Common Shares 1,091 $0.000000 Direct F2
transaction WCN Performance Share Units Options Exercise $0 -927 -50% $0.000000 927 15 Feb 2022 Common Shares 927 $0.000000 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares withheld by the Issuer in satisfaction of the applicable withholding taxes due in connection with the vesting of restricted share units and delivery of the converted common shares.
F2 Represents the conversion upon vesting of restricted share units into common shares of the Issuer. The performance-based restricted share unit award was granted on February 14, 2020 and contained a performance target that was achieved by the Issuer over the one fiscal year period that ended December 31, 2020. As a result, the award shall vest 25% per year over the four-year period following the date of grant. The common shares are reported on Table 1.
F3 Represents the conversion upon vesting of restricted share units into common shares of the Issuer. The performance-based restricted share unit award was granted on February 15, 2019 and contained a performance target that was achieved by the Issuer over the one fiscal year period that ended December 31, 2019. As a result, the award shall vest 25% per year over the four-year period following the date of grant. The common shares are reported on Table 1.

Remarks:

A performance share unit award was granted on February 15, 2019 and contained performance goals that the Issuer did not achieve over the three-year performance period from January 1, 2019 to December 31, 2021. The number of earned award units that vested at the end of the three-year performance period, as determined by the Compensation Committee of the Board of Directors, was 0% of the target number of shares subject to the award. No common shares were issued.