Waste Management Appoints New Directors, Loses One
Ticker: WM · Form: 8-K · Filed: Mar 1, 2024 · CIK: 823768
| Field | Detail |
|---|---|
| Company | Waste Management Inc (WM) |
| Form Type | 8-K |
| Filed Date | Mar 1, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01, $67,770, $45,180 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, governance
Related Tickers: WM
TL;DR
WM board shakeup: Bob Hull out, Hauser & McGlone in.
AI Summary
Waste Management, Inc. announced on March 1, 2024, the departure of Director Robert W. "Bob" Hull. The company also elected two new directors, David L. Hauser and David P. McGlone, to its board. These changes are effective immediately.
Why It Matters
Changes in board composition can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — The filing reports routine board changes and does not indicate any significant financial distress or operational issues.
Key Players & Entities
- Waste Management, Inc. (company) — Registrant
- Robert W. "Bob" Hull (person) — Departing Director
- David L. Hauser (person) — Newly Elected Director
- David P. McGlone (person) — Newly Elected Director
- March 1, 2024 (date) — Effective date of changes
FAQ
Who has departed from Waste Management's board of directors?
Robert W. "Bob" Hull has departed from Waste Management's board of directors.
Who are the new directors elected to Waste Management's board?
David L. Hauser and David P. McGlone have been elected as new directors to Waste Management's board.
When are these board changes effective?
The changes are effective as of March 1, 2024.
What is Waste Management's principal executive office address?
Waste Management's principal executive office is located at 800 Capitol Street, Suite 3000, Houston, Texas 77002.
What is Waste Management's IRS Employer Identification Number?
Waste Management's IRS Employer Identification Number is 73-1309529.
Filing Stats: 721 words · 3 min read · ~2 pages · Grade level 10.8 · Accepted 2024-03-01 16:30:38
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value WM New York Stock Exchang
- $67,770 — e Company equal in fair market value to $67,770, rounded to the nearest full share, on
- $45,180 — arch 1, 2024 and (ii) a cash payment of $45,180. Mr. Ben will stand for re-election at
Filing Documents
- tm247544d1_8k.htm (8-K) — 30KB
- tm247544d1_ex99-1.htm (EX-99.1) — 8KB
- 0001104659-24-030004.txt ( ) — 211KB
- wm-20240301.xsd (EX-101.SCH) — 3KB
- wm-20240301_lab.xml (EX-101.LAB) — 33KB
- wm-20240301_pre.xml (EX-101.PRE) — 22KB
- tm247544d1_8k_htm.xml (XML) — 4KB
02 Departure of Directors or Certain
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On March 1, 2024, the Board of Directors (the "Board") of Waste Management, Inc. (the "Company") increased its size to 10 members and elected Mr. Thomas L. Ben as an additional member of the Board with a term expiring at the 2024 annual meeting of stockholders (the "2024 Annual Meeting"). The Board determined that Mr. Ben is an independent director, and Mr. Ben was also appointed to the Management Development & Compensation Committee of the Board. Mr. Ben, age 61, is President and Chief Executive Officer of Breakthru Beverage Group, LLC, a private beverage wholesale distributor. Mr. Ben previously served as President and Chief Executive Officer of the National Restaurant Association and as President, Chief Executive Officer and Chairman of the Board of Sysco Corporation, a multinational wholesale restaurant distributor. Mr. Ben will receive standard compensation for service as a non-employee director of the Company, as described in the Company's most recent proxy period ending July 15, 2024, consisting of (i) a stock award under the Company's 2023 Stock Incentive Plan for the number of shares of Common Stock of the Company equal in fair market value to $67,770, rounded to the nearest full share, on the grant date of March 1, 2024 and (ii) a cash payment of $45,180. Mr. Ben will stand for re-election at the 2024 Annual Meeting. Director John C. Pope has reached the retirement age set forth in the Company's Corporate Governance Guidelines; therefore, he will not stand for re-election and his term as a director of the Company will expire at the 2024 Annual Meeting. The Board intends to reduce its size to nine members effective as of the expiration of Mr. Pope's term. A copy of the n
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit Index Exhibit Number Description 99.1 News Release dated March 1, 2024 104 Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101) 1
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. WASTE MANAGEMENT, INC. Date: March 1, 2024 By: /s/ Charles C. Boettcher Charles C. Boettcher Executive Vice President, Corporate Development and Chief Legal Officer