Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-08-17

Waste Management (WM)

Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$19,048,786
James Fish total, FY2025
54th
CEO pay percentile vs peers
190.4:1
CEO-to-median pay ratio
93.61%
Say-on-pay support, latest vote
Companies that benchmark against WM
13 companies name WM as a compensation peer

Each company listed discloses WM in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named WM in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
James Fish$1,486,538$0$12,406,478$2,400,021$2,472,480$283,269$19,048,786
Chief Executive Officer
John Morris930,88204,274,324619,9821,287,750125,3687,238,306
President and Chief Operating Officer
Tara Hemmer717,90404,227,958419,980709,06180,2486,155,151
Senior Vice President and Chief Sustainability Officer
Devina Rankin809,96702,791,429539,981870,68764,0295,076,093
Former Executive Vice President and Chief Financial Officer
Rafael Carrasco708,88502,171,048419,980696,68150,0204,046,614
Senior Vice President Enterprise Strategy; President WM Healthcare Solutions
David Reed461,3540994,9910474,56937,9261,968,840
Executive Vice President and Chief Financial Officer

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY20242025
James Fish$19,048,786
John Morris7,238,306
Tara Hemmer6,155,151
Devina Rankin5,076,093
Rafael Carrasco4,046,614
David Reed1,968,840

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Johnson VarkeySVP-Chief Information Officer2026-04-04D192$234$44,916CommonForm 4 ↗
Bruce E. ChinnDirector2026-05-15A861221190,031CommonForm 4 ↗
Thomas BeneDirector2026-05-15A861221190,031CommonForm 4 ↗
Sean E. MenkeDirector2026-05-15A861221190,031CommonForm 4 ↗
Victoria M. HoltDirector2026-05-15A861221190,031CommonForm 4 ↗
Maryrose T. SylvesterDirector2026-05-15A861221190,031CommonForm 4 ↗
Andrés R. GluskiDirector2026-05-15A861221190,031CommonForm 4 ↗
William B. PlummerDirector2026-05-15A861221190,031CommonForm 4 ↗
Kathleen M. MazzarellaDirector2026-05-15A1,314221290,013CommonForm 4 ↗
Tara HemmerEVP & Chief Operating Officer2026-05-20A2,54400CommonForm 4 ↗
Marcel DalbySVP Bus Optimiz & Collection2026-05-20A2,25700CommonForm 4 ↗
John MorrisPresident2026-05-20D566220124,797CommonForm 4 ↗
Rafael CarrascoSVP of Enterprise Strategy2026-06-05D2,655126334,543Derivative, Class A CommonForm 4 ↗
Rafael CarrascoSVP of Enterprise Strategy2026-06-05A2,655126334,543CommonForm 4 ↗
Rafael CarrascoSVP of Enterprise Strategy2026-06-05D2,655220585,335CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
John MorrisRSU2025-05-204,585$1,069,497
John MorrisPSU2025-02-255,63611,27222,5443,204,827
James FishOPTION2025-02-2550,5802,400,021
Tara HemmerOPTION2025-02-258,851419,980
Tara HemmerPSU2025-02-253,8187,63615,2722,171,048
Rafael CarrascoPSU2025-02-253,8187,63615,2722,171,048
John MorrisOPTION2025-02-2513,066619,982
James FishPSU2025-02-2521,81843,63687,27212,406,478
Devina RankinPSU2025-02-254,9099,81819,6362,791,429
David Reed2025-11-032,628517,006
David ReedPSU2025-02-255451,0902,180309,906
Devina RankinOPTION2025-02-2511,380539,981
Rafael CarrascoOPTION2025-02-258,851419,980
Tara HemmerRSU2025-09-029,1302,056,910
David Reed2025-02-25727168,079
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
John Morris$1,069,497$3,204,827$619,98265.5%
James Fish012,406,4782,400,02183.8%
Tara Hemmer2,056,9102,171,048419,98046.7%
Rafael Carrasco02,171,048419,98083.8%
Devina Rankin02,791,429539,98183.8%
David Reed0309,9060100.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Tara HemmerPSU9,130$2,005,952
David ReedOption1,702145.67
John MorrisPSU4,5851,007,370
Tara HemmerPSU15,8846,979,747
David ReedPSU2044,122
James FishPSU83,84236,841,852
Rafael CarrascoOption12,859145.67
Devina RankinPSU19,3028,481,685
John MorrisPSU23,43610,298,247
Rafael CarrascoPSU15,8846,979,747
05

Incentive-plan design — the Compensation Discussion & Analysis

The Company s compensation philosophy is designed to: Attract and retain exceptional employees through competitive compensation opportunities; Encourage and reward performance through substantial at-risk performance-based compensation, while discouraging excessive risk-taking behavior; and Align our decision makers long-term interests with those of our stockholders through emphasis on equity ownership.

CEO STI target (% of salary)160%
CEO LTI target (% of salary)
Independent consultantFrederic W. Cook & Co., Inc.
Clawback policytrue
Anti-hedgingtrue
Anti-pledging
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-12281,781,92918,039,7681,207,23493.61%Passed
20252025-05-13281,636,58416,761,3181,391,37693.94%Passed
20242024-05-14279,746,49421,569,1621,008,44392.53%Passed
20232023-05-09289,678,02817,715,2981,066,16993.91%Passed
20222022-05-10283,324,80329,499,757921,53190.3%Passed
20212021-05-11291,837,78622,380,087921,32592.61%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-05-1293.61%a
20252025-05-1393.94%b
20242024-05-1492.53%c

a. Approved under the standard stated in the filing — “For each of the other proposals, abstentions will have the same effect as a vote against these matters.”.

b. Approved under the standard stated in the filing — “For each of the other proposals, abstentions will have the same effect as a vote against these matters.”.

c. Approved under the standard stated in the filing — “For each of the other proposals, abstentions will have the same effect as a vote against these matters.”.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)190.4 : 1
CEO total compensation$19,048,786
Median employee compensation$100,067
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Kathleen M. MazzarellaIndependent · Board Chair · Audit · Management Development & Compensation · Nominating & Governance$222,500$381,814$0$0$0$604,314
William B. PlummerIndependent · Audit (Chair) · Management Development & Compensation147,500248,268000395,768
Andrés R. GluskiIndependent · Audit · Management Development & Compensation (Chair)142,500248,268000390,768
Victoria M. HoltIndependent · Audit · Nominating & Governance (Chair)142,500248,268000390,768
Sean E. MenkeIndependent · Audit · Nominating & Governance122,500248,268000370,768
Bruce E. ChinnIndependent · Audit122,500248,268000370,768
Maryrose T. SylvesterIndependent · Management Development & Compensation · Nominating & Governance122,500248,268000370,768
Thomas L. BenIndependent · Management Development & Compensation122,500248,268000370,768
James C. Fish, JrEmployee director00000
09

Board fee structure and ownership guideline

Annual cash retainer$125,000
Annual equity retainer$248,268
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)100,000
Stock ownership guideline
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$1,145,000
Equity awards (grant-date value)$2,119,690
All other compensation$0
Total cost of the board$3,264,690

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies Waste Management names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Waste Management.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Southern2025Christopher Womack$1,560,577$13,830,054$0$3,665,025$28,223,562
2FedEx2026Rajesh Subramaniam1,550,0006,731,3643,715,06210,593,50027,554,018
3Trane Technologies2025David Regnery1,512,5008,900,3975,700,0102,831,17327,262,157
4NextEra Energy2025Rebecca Kujawa514,80019,888,2155,126,242026,105,632
5UPS2025Carol Tomé1,509,71317,550,5461,358,7542,264,56922,878,788
6Emerson Electric2025Lal Karsanbhai1,537,50015,413,32503,728,52521,240,262
7Union Pacific2025V. James Vena1,475,0009,000,1306,000,0033,437,25020,296,362
8Johnson Controls International2025Joakim Weidemanis825,00012,849,0883,749,9932,357,24719,963,827
9Cummins2025Jennifer Rumsey1,533,7506,429,00406,975,65619,905,532
10Parker-Hannifin2025Jennifer Parmentier1,462,5006,313,2266,941,3153,356,41619,317,705
11Waste Management2025James Fish1,486,53812,406,4782,400,0212,472,48019,048,786
12Schlumberger2025Olivier Le Peuch1,650,00012,374,95302,083,95017,347,291
13Constellation Energy2025Joseph Dominguez1,481,25012,100,48702,649,92817,115,179
14Norfolk Southern2025Mark George1,100,0009,199,7332,300,0102,932,87516,245,050
15Sysco2025Kevin Hourican1,392,30810,086,9012,499,9891,616,00016,228,599
16Carrier Global2025David Gitlin1,500,0005,634,5485,747,1651,023,75014,962,913
17Republic Services2025Jon Vander Ark1,302,69211,124,48901,982,66414,857,016
18Duke Energy2025Harry Sideris1,200,00010,068,66301,974,10213,652,630
19PACCAR2025R. Preston Feight1,690,3854,900,5002,174,4851,326,52112,618,865
20United Rentals2025Matthew Flannery1,187,6719,080,47401,767,65612,057,571
21CSX2025Stephen Angel386,3645,385,3425,248,065513,86311,711,612
22Grainger (WW)2025D.G. Macpherson1,176,3708,451,81901,653,07511,609,508
23Waste Connections2025Ronald Mittelstaedt1,171,9435,301,06003,097,6009,757,565
24Cintas2025Todd Schneider1,114,0745,589,53102,510,7259,249,676
25Eaton2025Paulo Ruiz1,087,1164,140,3141,384,6951,155,0007,923,677

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Waste Management103.02%PSU 80 · Options 20NoFrederic W. Cook & Co., Inc.
Carrier Global39%SARs 50 · PSU 50Yes — Total Shareholder Return ( TSR ) relative to a subset of the S&P 500 Industrials Index ( Relative TSR )Pearl Meyer
Cintasnot disclosednot disclosednot disclosednot disclosed
Constellation Energy112.69%PSU 67 · RSU 33Yes — Relative TSRMeridian Compensation Partners
CSXnot disclosedPSU 50 · Option 30 · RSU 20not disclosedPay Governance, LLC
Cummins90%PSU 70 · Cash LTI 30NoFarient
Duke Energy114.7%PSU 70 · RSU 30Yes — Relative TSRFW Cook
Eaton70%PSU 50 · RSU 25 · Options 25Yes — Relative TSRMeridian Compensation Partners
Emerson Electric141.5%PSU 55 · RSU 45Yes — relative total shareholder return modifier benchmark (rTSR)Exequity LLP
FedEx112.5%not disclosedYes — Relative TSR (FY24-FY26 LTI Cash Plan)Meridian Compensation Partners, LLC
Grainger (WW)93%PSU 60 · RSU 40NoPay Governance, LLC
Johnson Controls International176.6%PSU 50 · RSU 25 · Options 25Yes — TSR Relative to S&P 500 IndustrialsFarient Advisors LLC
NextEra Energynot disclosednot disclosednot disclosednot disclosed
Norfolk Southern118.5%not disclosedYes — relative TSRFW Cook
PACCAR62.7%not disclosedNoThe Committee typically retains a compensation consultant to assess the competitiveness of the Company's compensation programs every two years. It did not employ a compensation consultant in 2025.
Parker-Hannifin139.09%PSU 50 · Options 50NoMercer Consulting (Marsh & McLennan Companies, Inc.)
Republic Services91.79%PSU 80 · RSU 20NoPearl Meyer & Partners, LLC
Schlumberger84%PSU 75 · RSU 25Yes — Total Shareholder Return (TSR)Pay Governance
Southern179%PSU 75 · RSU 25Yes — Relative TSRPay Governance LLC
Sysconot disclosednot disclosedNoSemler Brossy
Trane Technologies109.21%PSU 50 · Options 40 · RSU 10Yes — Relative TSRMeridian Compensation Partners, LLC
Union Pacific138%PSU 60 · Options 40NoPay Governance
United Rentals99.2%PSU 80 · RSU 20NoPearl Meyer & Partners, LLC
UPS75%PSU 93 · Options 7Yes — Relative Total Shareowner Return (RTSR)FW Cook
Waste Connectionsnot disclosednot disclosednot disclosedIndependent compensation consultant (name not specified in provided text, but retention confirmed)

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, James FishDEF 14A2026-03-310001104659-26-037381Section “Summary Compensation Table” · page 51. As printed: 19,048,786. Filing ↗machine: t83 · r2 · c36 · span 986125–986135
2Section 01, John MorrisDEF 14A2026-03-310001104659-26-037381Section “Summary Compensation Table” · page 51. As printed: 7,238,306. Filing ↗machine: t83 · r12 · c36 · span 1036423–1036432
3Section 01, Tara HemmerDEF 14A2026-03-310001104659-26-037381Section “Summary Compensation Table” · page 51. As printed: 6,155,151. Filing ↗machine: t83 · r16 · c36 · span 1056413–1056422
4Section 01, Devina RankinDEF 14A2026-03-310001104659-26-037381Section “Summary Compensation Table” · page 51. As printed: 5,076,093. Filing ↗machine: t83 · r8 · c36 · span 1016428–1016437
5Section 01, Rafael CarrascoDEF 14A2026-03-310001104659-26-037381Section “Summary Compensation Table” · page 51. As printed: 4,046,614. Filing ↗machine: t83 · r20 · c36 · span 1076504–1076513
6Section 01, David ReedDEF 14A2026-03-310001104659-26-037381Section “Summary Compensation Table” · page 51. As printed: 1,968,840. Filing ↗machine: t83 · r6 · c36 · span 1006375–1006384
7Section 03, John Morris RSUDEF 14A2026-03-310001104659-26-037381Section “Grant of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t88 · r19 · c66 · span 1333124–1333133
8Section 03, John Morris PSUDEF 14A2026-03-310001104659-26-037381Section “Grant of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t88 · r17 · c66 · span 1315889–1315898
9Section 03, James Fish OPTIONDEF 14A2026-03-310001104659-26-037381Section “Grant of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t83 · r2 · c18 · span 983977–983986
10Section 03, Tara Hemmer OPTIONDEF 14A2026-03-310001104659-26-037381Section “Grant of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t88 · r23 · c48 · span 1364062–1364067
11Section 03, Tara Hemmer PSUDEF 14A2026-03-310001104659-26-037381Section “Grant of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t88 · r22 · c30 · span 1353307–1353312
12Section 03, Rafael Carrasco PSUDEF 14A2026-03-310001104659-26-037381Section “Grant of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t88 · r27 · c30 · span 1394988–1394993
13Section 03, John Morris OPTIONDEF 14A2026-03-310001104659-26-037381Section “Grant of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t83 · r12 · c18 · span 1034277–1034284
14Section 03, James Fish PSUDEF 14A2026-03-310001104659-26-037381Section “Grant of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t88 · r4 · c36 · span 1204538–1204544
15Section 03, Devina Rankin PSUDEF 14A2026-03-310001104659-26-037381Section “Grant of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t88 · r13 · c30 · span 1278522–1278527
16Section 03, David Reed DEF 14A2026-03-310001104659-26-037381Section “Grant of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t88 · r10 · c42 · span 1255510–1255515
17Section 03, David Reed PSUDEF 14A2026-03-310001104659-26-037381Section “Grant of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t88 · r8 · c30 · span 1236848–1236853
18Section 03, Devina Rankin OPTIONDEF 14A2026-03-310001104659-26-037381Section “Grant of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t88 · r14 · c48 · span 1289302–1289308
19Section 03, Rafael Carrasco OPTIONDEF 14A2026-03-310001104659-26-037381Section “Grant of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t88 · r28 · c48 · span 1405804–1405809
20Section 03, Tara Hemmer RSUDEF 14A2026-03-310001104659-26-037381Section “Grant of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t88 · r24 · c42 · span 1371972–1371977
21Section 03, David Reed DEF 14A2026-03-310001104659-26-037381Section “Grant of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t88 · r9 · c42 · span 1246883–1246886
22Section 07, pay ratioDEF 14A2026-03-310001104659-26-037381Section “CEO Pay Ratio”. As printed: 190.4 : 1. Filing ↗machine: span 1799354–1799364
23Section 08, Kathleen M. MazzarellaDEF 14A2026-03-310001104659-26-037381Section “Director Compensation”. As printed: 604,314. Filing ↗machine: t24 · r5 · c18 · span 337418–337425
24Section 08, William B. PlummerDEF 14A2026-03-310001104659-26-037381Section “Director Compensation”. As printed: 395,768. Filing ↗machine: t24 · r7 · c18 · span 343066–343073
25Section 08, Andrés R. GluskiDEF 14A2026-03-310001104659-26-037381Section “Director Compensation”. As printed: 390,768. Filing ↗machine: t24 · r3 · c18 · span 331763–331770
26Section 08, Victoria M. HoltDEF 14A2026-03-310001104659-26-037381Section “Director Compensation”. As printed: 390,768. Filing ↗machine: t24 · r4 · c18 · span 334575–334582
27Section 08, Sean E. MenkeDEF 14A2026-03-310001104659-26-037381Section “Director Compensation”. As printed: 370,768. Filing ↗machine: t24 · r6 · c18 · span 340227–340234
28Section 08, Bruce E. ChinnDEF 14A2026-03-310001104659-26-037381Section “Director Compensation”. As printed: 370,768. Filing ↗machine: t24 · r2 · c18 · span 328921–328928
29Section 08, Maryrose T. SylvesterDEF 14A2026-03-310001104659-26-037381Section “Director Compensation”. As printed: 370,768. Filing ↗machine: t24 · r8 · c18 · span 345895–345902
30Section 08, Thomas L. BenDEF 14A2026-03-310001104659-26-037381Section “Director Compensation”. As printed: 370,768. Filing ↗
31Section 08, James C. Fish, JrDEF 14A2026-03-310001104659-26-037381Section “Director Compensation”. As printed: 0. Filing ↗
32Section 02, Johnson Varkey 2026-04-04Form 42026-04-070001225208-26-004426Insider equity transaction reported since the proxy statement. Filing ↗
33Section 02, Bruce E. Chinn 2026-05-15Form 42026-05-180001225208-26-005437Insider equity transaction reported since the proxy statement. Filing ↗
34Section 02, Thomas Bene 2026-05-15Form 42026-05-180001225208-26-005436Insider equity transaction reported since the proxy statement. Filing ↗
35Section 02, Sean E. Menke 2026-05-15Form 42026-05-180001225208-26-005443Insider equity transaction reported since the proxy statement. Filing ↗
36Section 02, Victoria M. Holt 2026-05-15Form 42026-05-180001225208-26-005439Insider equity transaction reported since the proxy statement. Filing ↗
37Section 02, Maryrose T. Sylvester 2026-05-15Form 42026-05-180001225208-26-005442Insider equity transaction reported since the proxy statement. Filing ↗
38Section 02, Andrés R. Gluski 2026-05-15Form 42026-05-180001225208-26-005438Insider equity transaction reported since the proxy statement. Filing ↗
39Section 02, William B. Plummer 2026-05-15Form 42026-05-180001225208-26-005444Insider equity transaction reported since the proxy statement. Filing ↗
40Section 02, Kathleen M. Mazzarella 2026-05-15Form 42026-05-180001225208-26-005440Insider equity transaction reported since the proxy statement. Filing ↗
41Section 02, Tara Hemmer 2026-05-20Form 42026-05-210001225208-26-005524Insider equity transaction reported since the proxy statement. Filing ↗
42Section 02, Marcel Dalby 2026-05-20Form 42026-05-210001225208-26-005525Insider equity transaction reported since the proxy statement. Filing ↗
43Section 02, John Morris 2026-05-20Form 42026-05-210001225208-26-005523Insider equity transaction reported since the proxy statement. Filing ↗
44Section 02, Rafael Carrasco 2026-06-05Form 42026-06-080001225208-26-005876Insider equity transaction reported since the proxy statement. Filing ↗
45Section 02, Rafael Carrasco 2026-06-05Form 42026-06-080001225208-26-005876Insider equity transaction reported since the proxy statement. Filing ↗
46Section 02, Rafael Carrasco 2026-06-05Form 42026-06-080001225208-26-005876Insider equity transaction reported since the proxy statement. Filing ↗
47Section 06, 2026 voteForm 8-K2026-05-140001104659-26-060755Item 5.07 · say-on-pay result. As reported: 93.61% (votes for as printed: 281,781,929). Filing ↗
48Section 06, 2025 voteForm 8-K2025-05-140001104659-25-048609Item 5.07 · say-on-pay result. As reported: 93.94% (votes for as printed: 281,636,584). Filing ↗
49Section 06, 2024 voteForm 8-K2024-05-170001104659-24-063047Item 5.07 · say-on-pay result. As reported: 92.53% (votes for as printed: 279,746,494). Filing ↗
50Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
51Section 09b board cost (computed)ComputedcomputedCash 1,145,000 + equity 2,119,690 + all other 0 = 3,264,690, summed across the director compensation table rows.machine: formula: Σ = 3,264,690
52Southern, Section 10b CEO totalDEF 14A2026-04-030000092122-26-000028CEO total compensation as printed in Southern's own proxy. As printed: 28,223,562. Filing ↗machine: r2 · c21 · span 1349281–1349291
53FedEx, Section 10b CEO totalDEF 14A2026-08-170001104659-26-097836CEO total compensation as printed in FedEx's own proxy. As printed: 27,554,018. Filing ↗machine: r1 · c54 · span 1409491–1409501
54Trane Technologies, Section 10b CEO totalDEF 14A2026-04-230001628280-26-026679CEO total compensation as printed in Trane Technologies's own proxy. As printed: 27,262,157. Filing ↗machine: t21 · r2 · c15 · span 319298–319308
55NextEra Energy, Section 10b CEO totalDEF 14A2026-04-010001104659-26-038551CEO total compensation as printed in NextEra Energy's own proxy. As printed: 26,105,632. Filing ↗
56UPS, Section 10b CEO totalDEF 14A2026-03-190001628280-26-019856CEO total compensation as printed in UPS's own proxy. As printed: 22,878,788. Filing ↗machine: r2 · c27 · span 899122–899132
57Emerson Electric, Section 10b CEO totalDEF 14A2025-12-120000032604-25-000103CEO total compensation as printed in Emerson Electric's own proxy. As printed: 21,240,262. Filing ↗machine: r2 · c27 · span 849389–849399
58Union Pacific, Section 10b CEO totalDEF 14A2026-03-250000100885-26-000098CEO total compensation as printed in Union Pacific's own proxy. As printed: 20,296,362. Filing ↗machine: span 1158158–1158168
59Johnson Controls International, Section 10b CEO totalDEF 14A2026-01-160001104659-26-004565CEO total compensation as printed in Johnson Controls International's own proxy. As printed: 19,963,827. Filing ↗machine: t61 · r2 · c48 · span 1373807–1373817
60Cummins, Section 10b CEO totalDEF 14A2026-04-020001104659-26-039158CEO total compensation as printed in Cummins's own proxy. As printed: 19,905,532. Filing ↗machine: t135 · r1 · c47 · span 1108458–1108468
61Parker-Hannifin, Section 10b CEO totalDEF 14A2025-09-190001308179-25-000603CEO total compensation as printed in Parker-Hannifin's own proxy. As printed: 19,317,705. Filing ↗machine: r2 · c24 · span 1027257–1027267
62Waste Management (subject), Section 10b CEO totalDEF 14A2026-03-310001104659-26-037381CEO total compensation as printed in Waste Management's own proxy. As printed: 19,048,786. Filing ↗machine: t83 · r2 · c36 · span 986125–986135
63Schlumberger, Section 10b CEO totalDEF 14A2026-02-260001308179-26-000024CEO total compensation as printed in Schlumberger's own proxy. As printed: 17,347,291. Filing ↗machine: t235 · r1 · c14 · span 700975–700985
64Constellation Energy, Section 10b CEO totalDEF 14A2026-03-190001552781-26-000140CEO total compensation as printed in Constellation Energy's own proxy. As printed: 17,115,179. Filing ↗machine: t410 · r7 · c8 · span 1175299–1175309
65Norfolk Southern, Section 10b CEO totalDEF 14A2026-03-270001193125-26-127620CEO total compensation as printed in Norfolk Southern's own proxy. As printed: 16,245,050. Filing ↗machine: r5 · c33 · span 2773362–2773372
66Sysco, Section 10b CEO totalDEF 14A2025-10-020000096021-25-000147CEO total compensation as printed in Sysco's own proxy. As printed: 16,228,599. Filing ↗machine: r2 · c9 · span 2488720–2488730
67Carrier Global, Section 10b CEO totalDEF 14A2026-03-030001783180-26-000016CEO total compensation as printed in Carrier Global's own proxy. As printed: 14,962,913. Filing ↗machine: r2 · c9 · span 1903221–1903231
68Republic Services, Section 10b CEO totalDEF 14A2026-03-240001193125-26-121796CEO total compensation as printed in Republic Services's own proxy. As printed: 14,857,016. Filing ↗machine: t333 · r3 · c29 · span 1371801–1371811
69Duke Energy, Section 10b CEO totalDEF 14A2026-03-200001104659-26-032443CEO total compensation as printed in Duke Energy's own proxy. As printed: 13,652,630. Filing ↗machine: r1 · c50 · span 1542349–1542359
70PACCAR, Section 10b CEO totalDEF 14A2026-03-180001193125-26-113876CEO total compensation as printed in PACCAR's own proxy. As printed: 12,618,865. Filing ↗machine: r2 · c27 · span 838577–838587
71United Rentals, Section 10b CEO totalDEF 14A2026-03-250001193125-26-124113CEO total compensation as printed in United Rentals's own proxy. As printed: 12,057,571. Filing ↗machine: span 1280664–1280674
72CSX, Section 10b CEO totalDEF 14A2026-03-300001628280-26-021944CEO total compensation as printed in CSX's own proxy. As printed: 11,711,612. Filing ↗machine: r2 · c27 · span 1506353–1506363
73Grainger (WW), Section 10b CEO totalDEF 14A2026-03-100001104659-26-025575CEO total compensation as printed in Grainger (WW)'s own proxy. As printed: 11,609,508. Filing ↗machine: r1 · c32 · span 1578499–1578510
74Waste Connections, Section 10b CEO totalDEF 14A2026-04-020001104659-26-039146CEO total compensation as printed in Waste Connections's own proxy. As printed: 9,757,565. Filing ↗
75Cintas, Section 10b CEO totalDEF 14A2025-09-160000723254-25-000025CEO total compensation as printed in Cintas's own proxy. As printed: 9,249,676. Filing ↗machine: r2 · c27 · span 397841–397850
76Eaton, Section 10b CEO totalDEF 14A2026-03-130001193125-26-105117CEO total compensation as printed in Eaton's own proxy. As printed: 7,923,677. Filing ↗machine: r4 · c18 · span 2008245–2008255
77Section 10a, Waste Connections reciprocityDEF 14A0001104659-26-039146Waste Connections names Waste Management in its own disclosed peer group (read from its most recent proxy). Filing ↗
78Section 10a, Constellation Energy reciprocityDEF 14A0001552781-26-000140Constellation Energy's most recent proxy was read; its disclosed peer group does not include Waste Management. Filing ↗
79Section 10a, Carrier Global reciprocityDEF 14A0001783180-26-000016Carrier Global's most recent proxy was read; its disclosed peer group does not include Waste Management. Filing ↗
80Section 10a, Trane Technologies reciprocityDEF 14A0001628280-26-026679Trane Technologies's most recent proxy was read; its disclosed peer group does not include Waste Management. Filing ↗
81Section 10a, Union Pacific reciprocityDEF 14A0000100885-26-000098Union Pacific's most recent proxy was read; its disclosed peer group does not include Waste Management. Filing ↗
82Section 10a, Cummins reciprocityDEF 14A0001104659-26-039158Cummins's most recent proxy was read; its disclosed peer group does not include Waste Management. Filing ↗
83Section 10a, Eaton reciprocityDEF 14A0001193125-26-105117Eaton's most recent proxy was read; its disclosed peer group does not include Waste Management. Filing ↗
84Section 10a, Emerson Electric reciprocityDEF 14A0000032604-25-000103Emerson Electric's most recent proxy was read; its disclosed peer group does not include Waste Management. Filing ↗
85Section 10a, Southern reciprocityDEF 14A0000092122-26-000028Southern's most recent proxy was read; its disclosed peer group does not include Waste Management. Filing ↗
86Section 10a, Sysco reciprocityDEF 14A0000096021-25-000147Sysco's most recent proxy was read; its disclosed peer group does not include Waste Management. Filing ↗
87Section 10a, United Rentals reciprocityDEF 14A0001193125-26-124113United Rentals names Waste Management in its own disclosed peer group (read from its most recent proxy). Filing ↗
88Section 10a, Grainger (WW) reciprocityDEF 14A0001104659-26-025575Grainger (WW)'s most recent proxy was read; its disclosed peer group does not include Waste Management. Filing ↗
89Section 10a, Schlumberger reciprocityDEF 14A0001308179-26-000024Schlumberger's most recent proxy was read; its disclosed peer group does not include Waste Management. Filing ↗
90Section 10a, NextEra Energy reciprocityDEF 14A0001104659-26-038551NextEra Energy's most recent proxy was read; its disclosed peer group does not include Waste Management. Filing ↗
91Section 10a, Duke Energy reciprocityDEF 14A0001104659-26-032443Duke Energy names Waste Management in its own disclosed peer group (read from its most recent proxy). Filing ↗
92Section 10a, CSX reciprocityDEF 14A0001628280-26-021944CSX names Waste Management in its own disclosed peer group (read from its most recent proxy). Filing ↗
93Section 10a, Johnson Controls International reciprocityDEF 14A0001104659-26-004565Johnson Controls International's most recent proxy was read; its disclosed peer group does not include Waste Management. Filing ↗
94Section 10a, PACCAR reciprocityDEF 14A0001193125-26-113876PACCAR's most recent proxy was read; its disclosed peer group does not include Waste Management. Filing ↗
95Section 10a, Parker-Hannifin reciprocityDEF 14A0001308179-25-000603Parker-Hannifin's most recent proxy was read; its disclosed peer group does not include Waste Management. Filing ↗
96Section 10a, UPS reciprocityDEF 14A0001628280-26-019856UPS's most recent proxy was read; its disclosed peer group does not include Waste Management. Filing ↗