Insider Trading February 2, 2026

Waste Management SVP Carrasco executes share sale after performance award settlement

Rafael Carrasco sold 690 shares while settling a larger tranche of performance shares; company posted a slight Q4 2025 earnings miss

By Jordan Park WM
Waste Management SVP Carrasco executes share sale after performance award settlement
WM

Rafael Carrasco, Senior Vice President of Enterprise Strategy at Waste Management Inc. (NYSA: WM), completed a small open-market sale on January 30, 2026, after a January 29, 2026 settlement of performance-based shares. The recent transactions and the company’s fourth-quarter 2025 results, which narrowly missed consensus on both EPS and revenue, were followed by a pullback in pre-market trading. Waste Management’s stock trades modestly above InvestingPro’s Fair Value estimate and the company continues a long-running dividend record.

Key Points

  • Rafael Carrasco sold 690 shares on January 30, 2026, at $218.93 to $219.06 per share for $151,113 in proceeds.
  • On January 29, 2026, Carrasco settled 12,208 performance shares at $226.41 each (total $2,764,013) and disposed of 4,166 shares at the same price for $943,224.
  • Waste Management reported Q4 2025 EPS of $1.93 (vs. $1.95 expected) and revenue of $6.31 billion (vs. $6.39 billion expected); the stock fell in pre-market trading.

Transaction details and holdings

Rafael Carrasco, who serves as Senior Vice President of Enterprise Strategy at Waste Management Inc. (NYSE: WM), sold 690 shares of the company’s common stock on January 30, 2026. The sales were executed at prices between $218.93 and $219.06, producing aggregate proceeds of $151,113. The sale price occurred close to the then-current quoted share price of $222.03, and Waste Management’s market capitalization sits at $89.57 billion.

These dispositions followed a separate sequence of filings the prior day. According to a Form 4 filed with the Securities and Exchange Commission, Carrasco received 12,208 shares on January 29, 2026, at a unit price of $226.41. The total value of those shares was reported at $2,764,013. The Form 4 indicates those shares were the result of a settlement of a performance share award granted under Waste Management’s 2014 Stock Incentive Plan.

Also on January 29, 2026, Carrasco disposed of 4,166 shares at the same per-share price of $226.41, for total consideration of $943,224. After the mix of acquisitions and sales reported in the filings, Carrasco’s direct ownership in Waste Management stands at 22,891.7420 shares.


Financial context included in filings

Waste Management reported $2.7 billion in net income over the last twelve months in the company information accompanying the filings. The stock’s measured volatility is relatively low, with a reported beta of 0.59. The company has sustained dividend payments for 28 consecutive years and carries a current dividend yield of 1.48%.

InvestingPro analysis, cited in the filings, indicates Waste Management’s shares are trading slightly above their Fair Value.


Recent quarterly results

In related disclosures, Waste Management released fourth-quarter 2025 financial results that marginally missed analysts’ expectations. The company reported earnings per share of $1.93, compared with consensus expectations of $1.95. Revenue for the quarter came in at $6.31 billion, shy of the $6.39 billion analysts were forecasting. Those results were followed by a decline in Waste Management stock in pre-market trading.

The earnings and revenue shortfalls were characterized in company releases as part of the latest financial disclosures and were noted as factors behind the early trading movement.


What the filings show and what is limited

The SEC Form 4s provide a narrow window into the timing, pricing, and legal basis for Carrasco’s stock movements: a settlement of performance awards under the 2014 Stock Incentive Plan, subsequent disposals, and a later small open-market sale. The filings also reconfirmed basic company metrics disclosed by Waste Management, including net income, dividend history, and beta. Beyond the discrete transactional and financial facts disclosed, the filings do not provide explanations for the timing of individual trades or link the trades to operational drivers.

Risks

  • Earnings and revenue shortfalls - The company’s Q4 2025 results narrowly missed expectations, a factor that can affect investor sentiment and share price volatility in the short term.
  • Insider transaction timing - While the filings disclose the mechanics of the trades, they do not explain the rationale for timing, which may leave investors uncertain about management intent.
  • Market valuation sensitivity - InvestingPro notes the stock is trading slightly above Fair Value, indicating limited margin for upside without corresponding operational improvements.

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