The selling is consistent with routine portfolio management and tax-related transactions rather than a signal of distress. Traders should monitor for larger-scale dispositions or broader executive departures, but this cluster does not suggest negative outlook.
Price Chart
Executive Summary
A cluster of insider transactions at Waste Management Inc. (WM) over the past seven days shows mixed activity, with several executives selling shares in open-market transactions totaling approximately $1.32 million, while others received non-cash awards or had shares withheld for taxes. The largest sales came from SVP Hemmer Tara J. and SVP Varkey Johnson, while CFO David L. Reed and CHRO Kimberly G. Stith conducted minimal open-market and tax-related dispositions.
Key Financial Metrics
Key Facts
- Seven of the eight transactions were dispositions, but only three were open-market sales (codes S); the rest were non-cash events (A, F, M).
- Total open-market sales amounted to $1,321,165.65, representing just 0.0013% of WM's $98.4B market cap — well below the 0.1% threshold for materiality.
- CFO David L. Reed sold only 21 shares ($5,095.65) and had 31 shares withheld for taxes; no significant divestment by top leadership.
- SVP Hemmer Tara J. sold $1.165M in stock, the largest single sale in the cluster.
- VP Carroll John A. received a non-cash grant of 892 shares; no economic value transferred.
- SVP Watson Michael J. exercised options for 12,642 shares at $126.005, a non-cash transaction valued at $1.59M pre-tax, but not a sale.
Financial Impact
$1.32 million in open-market sales, 0.0013% of market cap — immaterial in scale
Risk Factors
- Perception risk if media mischaracterizes the exercise and tax withholdings as broad insider selling.
- Potential for follow-on selling if more executives liquidate near-term, though current pace is normal.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CONTEXT: Insider Cluster Data (8 trades, 7d window) | cluster-WM-1772742556638 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 26, 2026 5w ago | 8-K | $221.24 $207.96 | ▼ −6.00% | ▼ −6.23% | $203.49 (−8.02%) |
May 13, 2026 20w ago | 8-K | $216.44 $218.79 | ▲ +1.09% | ▲ +1.70% | $203.49 (−5.98%) |
May 13, 2026 20w ago | Court Ruling | $216.44 $218.79 | ▲ +1.09% | ▲ +1.70% | $203.49 (−5.98%) |
Mar 2, 2026 30w ago | Insider Cluster | $242.11 $229.96 | ▼ −5.02% | ▲ +2.92% | $203.49 (−15.95%) |
Mar 2, 2026 30w ago | Insider Cluster | $242.11 $229.96 | ▲ +5.02% | ▼ −2.92% | $203.49 (+15.95%) |
Mar 2, 2026 30w ago | Insider Cluster | $242.11 $229.96 | ▲ +5.02% | ▼ −2.92% | $203.49 (+15.95%) |
Feb 26, 2026 31w ago | Insider Cluster | $232.97 $226.51 | ▼ −2.77% | ▲ +3.63% | $203.49 (−12.66%) |
Feb 26, 2026 31w ago | Insider Cluster | $232.97 $226.51 | ▲ +2.77% | ▼ −3.63% | $203.49 (+12.66%) |
Feb 26, 2026 31w ago | Insider Cluster | $232.97 $226.51 | ▼ −2.77% | ▲ +3.63% | $203.49 (−12.66%) |
Feb 26, 2026 31w ago | Insider Cluster | $232.97 $226.51 | ▼ −2.77% | ▲ +3.63% | $203.49 (−12.66%) |
US Market Status
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