01—Abstract
Summary
Summary of the 8-K filed May 13, 2026. Cited figures are marked; the original filing is the authoritative source.
Waste Management, Inc. (WM) announced significant executive changes via an 8-K filing on May 13, 2026.
The company is acknowledging the retirement of Mr. Rafael E. Carrasco, Senior Vice President, Enterprise Strategy and President, WM Healthcare Solutions, who will step down on July 17, 2026, after 10 years of service, notably contributing to the Stericycle acquisition and healthcare solutions business development. Concurrently, Ms. Tara J.
Hemmer has been promoted to Executive Vice President and Chief Operating Officer, reporting to President John J. Morris, Jr., who has resigned from his COO role.
Ms. Hemmer, previously Senior Vice President and Chief Sustainability Officer, will see her annual base salary increase to $850,000a and a target annual cash incentive of 105% of her year-end base salary. Her compensation package also includes a $575,000 award of restricted stock units (RSUs) with a staggered three-year vesting schedule and dividend equivalents, reflecting the company's investment in leadership continuity and strategic growth.
02—Key points
Key Highlights
- Retirement of Rafael E. Carrasco, SVP, Enterprise Strategy and President, WM Healthcare Solutions, effective July 17, 2026.
- Tara J. Hemmer promoted to Executive Vice President and Chief Operating Officer.
- John J. Morris, Jr. has resigned from his position as Chief Operating Officer.
- Ms. Hemmer's new annual base salary is set at $850,000.
- Ms. Hemmer's target annual cash incentive is 105% of her year-end base salary.
- Ms. Hemmer awarded $575,000 in Restricted Stock Units (RSUs) with a three-year vesting schedule.
- RSU awards include dividend equivalents and specific vesting acceleration clauses for death, disability, and involuntary termination without cause.
03—Questions
Frequently Asked Questions
What is the significance of Mr. Carrasco's retirement?
Mr. Carrasco's retirement marks the end of a decade of service, during which he held various operational leadership roles, including a key role in the Stericycle acquisition and the development of the company's healthcare solutions business. Investors should monitor how his responsibilities are absorbed and if there's any impact on the strategic direction of the healthcare segment.
What are the key changes in executive leadership regarding the COO position?
John J. Morris, Jr. has resigned as Chief Operating Officer. Tara J. Hemmer, previously SVP and Chief Sustainability Officer, has been promoted to Executive Vice President and COO, reporting to President John J. Morris, Jr. This represents a significant shift in operational leadership.
What is the compensation structure for Ms. Hemmer's new role?
Ms. Hemmer's compensation includes an increased base salary of $850,000, a target annual cash incentive of 105% of her year-end base salary, and a $575,000 award of Restricted Stock Units (RSUs). The RSUs vest over three years and include dividend equivalents, aligning her incentives with long-term shareholder value.
What are the vesting terms of Ms. Hemmer's RSU award?
The RSUs vest over three years, with 34% vesting on the first anniversary of the grant date, 33% on the second, and 33% on the third. There are provisions for accelerated vesting upon death, disability, or involuntary termination without cause, and specific conditions for retirement and change in control scenarios.
04—Continue