SEC Form 4 · accession 0001209191-18-042939
REPUBLIC SERVICES, INC. · RSG
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
James P Snee
Director
Period of report
Jul 16, 2018
Accepted (ET)
Jul 17, 2018 · 9:02 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001060391
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF1,F2 | — | Jul 16, 2018 | A | 1,535 | A | — | — | Common Stock | 1,535 | 1,535 | D |
Explanation of responses
- F1Mr. Snee was appointed to the Board of Directors of Republic Services, Inc. ("Company") on 07/16/2018. The Company annually grants, as of the first business day in January, each non-employee director a grant of restricted stock units ("RSUs") pursuant to the Company's 2007 Stock Incentive Plan, as amended. The grant is based on a value on the date of grant of $230,000, with the number of RSUs calculated based on the closing stock price of the Company's common stock on the date of grant. The RSUs immediately vest; however, the director cannot convert any of the RSUs to Company common stock (based on 1 on 1 conversion) until the earlier of the last day of the month in which the three year anniversary of the date of the award occurs unless deferred by the director or the date on which the director incurs a separation from service within the meaning of Section 409A of the Internal Revenue Code.
- F2This annual grant of RSUs to a newly appointed director is prorated to the number of days remaining in the calendar year. After any quarter in which dividends are distributed to shareholders, the director receives additional RSU equivalents. Mr. Snee was granted 1,535 RSUs as of 07/16/2018 ("Date of Grant"), based on the closing stock price of $69.38 as of the Date of Grant. The RSUs are scheduled to convert to common stock as of 07/31/2021.