=== SEC Form 4 — Statement of Changes in Beneficial Ownership ===
Document Type: 4
Period of Report: 2026-05-14
10b5-1 Pre-arranged Plan: No
--- Issuer ---
Name: REPUBLIC SERVICES, INC. (RSG)
CIK: 0001060391
--- Reporting Owner ---
Name: CASCADE INVESTMENT, L.L.C.
CIK: 0001052192
Role: 10%+ Owner
--- Non-Derivative Transactions ---
[Transaction #1]
Security: Common stock
Date: 2026-05-14 | Code: P (Open market purchase)
Shares: +58,840 | Price: $206.71
Total Value: $12,163,016.46
Shares Owned After: 110,374,822 | Ownership: D (Direct)
Footnotes:
[F1] This transaction was executed in multiple trades at prices ranging from $206.0300 to $207.0200. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
[Transaction #2]
Security: Common stock
Date: 2026-05-14 | Code: P (Open market purchase)
Shares: +151,554 | Price: $207.51
Total Value: $31,449,106.94
Shares Owned After: 110,526,376 | Ownership: D (Direct)
Footnotes:
[F2] This transaction was executed in multiple trades at prices ranging from $207.0300 to $208.0250. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
[Transaction #3]
Security: Common stock
Date: 2026-05-14 | Code: P (Open market purchase)
Shares: +97,111 | Price: $208.52
Total Value: $20,249,517.74
Shares Owned After: 110,623,487 | Ownership: D (Direct)
Footnotes:
[F3] This transaction was executed in multiple trades at prices ranging from $208.0300 to $208.9700. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
[Transaction #4]
Security: Common stock
Date: 2026-05-15 | Code: P (Open market purchase)
Shares: +28,406 | Price: $208.00
Total Value: $5,908,368.46
Shares Owned After: 110,651,893 | Ownership: D (Direct)
Footnotes:
[F4] This transaction was executed in multiple trades at prices ranging from $207.2950 to $208.2925. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
[Transaction #5]
Security: Common stock
Date: 2026-05-15 | Code: P (Open market purchase)
Shares: +50,723 | Price: $208.55
Total Value: $10,578,509.90
Shares Owned After: 110,702,616 | Ownership: D (Direct)
Footnotes:
[F5] This transaction was executed in multiple trades at prices ranging from $208.3025 to $209.2900. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
[Transaction #6]
Security: Common stock
Date: 2026-05-15 | Code: P (Open market purchase)
Shares: +23,067 | Price: $209.65
Total Value: $4,836,005.78
Shares Owned After: 110,725,683 | Ownership: D (Direct)
Footnotes:
[F6] This transaction was executed in multiple trades at prices ranging from $209.3000 to $210.2750. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
[Transaction #7]
Security: Common stock
Date: 2026-05-15 | Code: P (Open market purchase)
Shares: +17,599 | Price: $210.58
Total Value: $3,706,073.10
Shares Owned After: 110,743,282 | Ownership: D (Direct)
Footnotes:
[F7] This transaction was executed in multiple trades at prices ranging from $210.3050 to $211.1200. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
[Transaction #8]
Security: Common stock
Date: 2026-05-18 | Code: P (Open market purchase)
Shares: +380 | Price: $208.28
Total Value: $79,147.20
Shares Owned After: 110,743,662 | Ownership: D (Direct)
Footnotes:
[F8] This transaction was executed in multiple trades at prices ranging from $207.8700 to $208.7400. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
[Transaction #9]
Security: Common stock
Date: 2026-05-18 | Code: P (Open market purchase)
Shares: +4,200 | Price: $210.38
Total Value: $883,599.36
Shares Owned After: 110,747,862 | Ownership: D (Direct)
Footnotes:
[F9] This transaction was executed in multiple trades at prices ranging from $209.9100 to $210.8600. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
[Transaction #10]
Security: Common stock
Date: 2026-05-18 | Code: P (Open market purchase)
Shares: +9,200 | Price: $211.48
Total Value: $1,945,651.88
Shares Owned After: 110,757,062 | Ownership: D (Direct)
Footnotes:
[F10] This transaction was executed in multiple trades at prices ranging from $210.8900 to $211.8600. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
[Transaction #11]
Security: Common stock
Date: 2026-05-18 | Code: P (Open market purchase)
Shares: +8,084 | Price: $212.28
Total Value: $1,716,076.37
Shares Owned After: 110,765,146 | Ownership: D (Direct)
Footnotes:
[F11] This transaction was executed in multiple trades at prices ranging from $211.8800 to $212.8600 The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
[Transaction #12]
Security: Common stock
Date: 2026-05-18 | Code: P (Open market purchase)
Shares: +8,900 | Price: $213.18
Total Value: $1,897,277.97
Shares Owned After: 110,774,046 | Ownership: D (Direct)
Footnotes:
[F12] This transaction was executed in multiple trades at prices ranging from $212.8800 to $213.6600. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
[Transaction #13]
Security: Common stock
Date: 2026-05-18 | Code: P (Open market purchase)
Shares: +22,828 | Price: $214.52
Total Value: $4,897,037.45
Shares Owned After: 110,796,874 | Ownership: D (Direct)
Footnotes:
[F13] This transaction was executed in multiple trades at prices ranging from $214.1600 to $214.8600. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
[Transaction #14]
Security: Common stock
Date: 2026-05-18 | Code: P (Open market purchase)
Shares: +7,108 | Price: $215.11
Total Value: $1,529,007.57
Shares Owned After: 110,803,982 | Ownership: D (Direct)
Footnotes:
[F14] This transaction was executed in multiple trades at prices ranging from $214.8900 to $215.4600. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
--- Footnotes (Complete Index) ---
F1: This transaction was executed in multiple trades at prices ranging from $206.0300 to $207.0200. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
F10: This transaction was executed in multiple trades at prices ranging from $210.8900 to $211.8600. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
F11: This transaction was executed in multiple trades at prices ranging from $211.8800 to $212.8600 The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
F12: This transaction was executed in multiple trades at prices ranging from $212.8800 to $213.6600. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
F13: This transaction was executed in multiple trades at prices ranging from $214.1600 to $214.8600. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
F14: This transaction was executed in multiple trades at prices ranging from $214.8900 to $215.4600. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
F2: This transaction was executed in multiple trades at prices ranging from $207.0300 to $208.0250. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
F3: This transaction was executed in multiple trades at prices ranging from $208.0300 to $208.9700. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
F4: This transaction was executed in multiple trades at prices ranging from $207.2950 to $208.2925. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
F5: This transaction was executed in multiple trades at prices ranging from $208.3025 to $209.2900. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
F6: This transaction was executed in multiple trades at prices ranging from $209.3000 to $210.2750. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
F7: This transaction was executed in multiple trades at prices ranging from $210.3050 to $211.1200. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
F8: This transaction was executed in multiple trades at prices ranging from $207.8700 to $208.7400. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
F9: This transaction was executed in multiple trades at prices ranging from $209.9100 to $210.8600. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
--- Signature ---
/s/ Cascade Investment, L.L.C. by: /s/ Alan Heuberger, Attorney-in-fact for Michael Larson, Business Manager (2026-05-18)
