Cascade Investment, L.L.C. and William H. Gates III filed a Form 4 on August 20, 2026, disclosing open-market purchases of Republic Services, Inc. common stock on August 18 and 19, 2026, across twelve separate transaction tranches.

Key Highlights

  • Reporting persons: Cascade Investment, L.L.C. and William H. Gates III, both identified as 10% owners of Republic Services, Inc. (NYSE:RSG).
  • Total shares purchased: 378,929 shares of common stock acquired across twelve tranches on August 18-19, 2026, all coded as open-market purchases (code "P").
  • Price range: Weighted-average prices per tranche ranged from $216.6491 to $224.0853, with individual trades spanning $216.0000 to $224.2300 across all tranches.
  • Resulting ownership: Beneficial ownership following the reported transactions totaled 112,403,625 shares, held directly.
  • All transactions direct: Every reported transaction reflects direct ownership by the reporting person.
  • Signing authority: The form was signed by Alan Heuberger as attorney-in-fact for both Cascade Investment, L.L.C. (via Michael Larson, Business Manager) and William H. Gates III, and filed on August 20, 2026.

Cascade Investment and Gates Add to Republic Services Position in Two-Day Purchase Activity

According to the filing, Cascade Investment, L.L.C., headquartered at 2365 Carillon Point, Kirkland, Washington 98033, executed twelve separate purchase tranches of Republic Services, Inc. common stock on August 18 and 19, 2026. Three tranches were transacted on August 18, 2026, and nine on August 19, 2026. All acquisitions carry transaction code "P," indicating open-market purchases, and all shares are reported as directly owned.

The filing discloses that each tranche was executed in multiple trades, with the prices reported reflecting weighted-average prices per share. On August 18, the weighted-average prices were $216.839, $217.8728, and $218.3258 for tranches of 6,190, 166,858, and 27,077 shares, respectively. On August 19, nine additional tranches totaling 178,844 shares were purchased at weighted-average prices ranging from $216.6491 to $224.0853 per share. The filing states that full information regarding the number of shares and prices within each tranche will be provided upon request to the SEC staff, the issuer, or a security holder.

Prior to these transactions, the filing implies a starting beneficial ownership position that grew to 112,403,625 shares following all twelve reported purchases. William H. Gates III is listed as a co-reporting person at the same Kirkland, Washington address, also identified as a 10% owner. No derivative securities transactions were reported in Table II of the filing.

What Was Disclosed

The filing reports twelve open-market purchase tranches of Republic Services, Inc. common stock by Cascade Investment, L.L.C. and William H. Gates III between August 18 and 19, 2026, resulting in total direct beneficial ownership of 112,403,625 shares.