Waste Management Executive Compensation (FY25)
WM · Executive and director compensation, fiscal 2025 only
The Waste Management brief, $1,500
Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
From $1,200 for the board report; $2,400 for both.
Data as of September 7, 2026Latest filing (8-K): May 14, 2026
11 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
$1,500Get the executive brief
211 figures on this page: 201 cited to the filing that reported them, 10 calculated from figures it prints. See the citations
Frequently asked questions
Answers drawn from the data on this page.
Who is Waste Management's chief executive and what were they paid?
James Fish was paid $19,048,786 in total compensation as Chief Executive Officer for fiscal 2025.
What was Waste Management's say-on-pay result?
For fiscal 2025, shareholders backed the say-on-pay proposal with 93.6% of votes cast including abstentions in favor at the meeting held May 12, 2026.
Which companies are in Waste Management's peer group?
The disclosed peer group names Carrier Global, Cintas, Constellation Energy, CSX and Cummins, among others.
What is Waste Management's chief executive pay ratio?
The company reported a chief executive pay ratio of 190.4:1 for fiscal 2025, against median employee compensation of $100,067.27.
Executive compensation
Every element reported for each named executive officer, by fiscal year.
Fiscal 2025
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
James Fish Chief Executive Officer | ◇ | — | ◇ | ◇ | ◇ | — | ◇ | ◇ |
John Morris President and Chief Operating Officer | ◇ | — | ◇ | ◇ | ◇ | — | ◇ | ◇ |
Tara Hemmer Senior Vice President and Chief Sustainability Officer | ◇ | — | ◇ | ◇ | ◇ | — | ◇ | ◇ |
Devina Rankin Former Executive Vice President and Chief Financial Officer Departed during or after this year | ◇ | — | ◇ | ◇ | ◇ | — | ◇ | ◇ |
Rafael Carrasco Senior Vice President Enterprise Strategy; President WM Healthcare Solutions | ◇ | — | ◇ | ◇ | ◇ | — | ◇ | ◇ |
David Reed Executive Vice President and Chief Financial Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.
Equity awards granted
Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
| Officer | Award | Grant date | Threshold units | Target units | Units granted | Maximum units | Exercise price | Grant date fair value |
|---|---|---|---|---|---|---|---|---|
| David L. Reed | — | ◇ | — | — | ◇ | — | — | ◇ |
| David L. Reed | PSU | ◇ | ◇ | ◇ | — | ◇ | — | ◇ |
| David L. Reed | — | ◇ | — | — | ◇ | — | — | ◇ |
| Devina A. Rankin | PSU | ◇ | ◇ | ◇ | — | ◇ | — | ◇ |
| Devina A. Rankin | OPTION | ◇ | — | — | ◇ | — | ◇ | ◇ |
| James C. Fish Jr | OPTION | ◇ | — | — | ◇ | — | ◇ | ◇ |
| James C. Fish Jr | PSU | ◇ | ◇ | ◇ | — | ◇ | — | ◇ |
| John J. Morris Jr | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| John J. Morris Jr | PSU | ◇ | ◇ | ◇ | — | ◇ | — | ◇ |
| John J. Morris Jr | OPTION | ◇ | — | — | ◇ | — | ◇ | ◇ |
| Rafael E. Carrasco | PSU | ◇ | ◇ | ◇ | — | ◇ | — | ◇ |
| Rafael E. Carrasco | OPTION | ◇ | — | — | ◇ | — | ◇ | ◇ |
| Tara J. Hemmer | OPTION | ◇ | — | — | ◇ | — | ◇ | ◇ |
| Tara J. Hemmer | PSU | ◇ | ◇ | ◇ | — | ◇ | — | ◇ |
| Tara J. Hemmer | RSU | ◇ | — | — | ◇ | — | — | ◇ |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.
Outstanding awards
Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
| Officer | Award | Unvested units | Market value of unvested units | Exercise price | Expires |
|---|---|---|---|---|---|
| Rafael Carrasco | PSU | ◇ | ◇ | — | — |
| Option | ◇ | — | ◇ | — | |
| John Morris | PSU | ◇ | ◇ | — | — |
| PSU | ◇ | ◇ | — | — | |
| Devina Rankin | PSU | ◇ | ◇ | — | — |
| James Fish | PSU | ◇ | ◇ | — | — |
| David Reed | PSU | ◇ | ◇ | — | — |
| Option | ◇ | — | ◇ | — | |
| Tara Hemmer | PSU | ◇ | ◇ | — | — |
| PSU | ◇ | ◇ | — | — |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.
Severance and change in control
The terms as written in the agreements.
David Reed
Executive Vice President and Chief Financial Officer · Terms as announced by the company · citing a 2026 filing
| Severance multiple | ◇ |
| Severance cash amount | ◇ |
| Change-in-control multiple | ◇ |
| Equity acceleration on change in control | ◇ |
| Benefits continuation on change in control | ◇ |
| Benefits continuation | ◇ |
James Fish
Chief Executive Officer · Terms as announced by the company · citing a 2026 filing
| Severance multiple | ◇ |
| Severance cash amount | ◇ |
| Change-in-control multiple | ◇ |
| Equity acceleration on change in control | ◇ |
| Benefits continuation on change in control | ◇ |
| Benefits continuation | ◇ |
| Excise tax treatment | ◇ |
Rafael Carrasco
Senior Vice President Enterprise Strategy; President WM Healthcare Solutions · Terms as described in the company’s compensation discussion · citing a 2026 filing
| Severance multiple | ◇ |
| Severance cash amount | ◇ |
| Change-in-control multiple | ◇ |
| Benefits continuation on change in control | ◇ |
| Benefits continuation | ◇ |
| Excise tax treatment | ◇ |
Tara Hemmer
Senior Vice President and Chief Sustainability Officer · Terms as described in the company’s compensation discussion · citing a 2026 filing
| Severance multiple | ◇ |
| Severance cash amount | ◇ |
| Change-in-control multiple | ◇ |
| Benefits continuation on change in control | ◇ |
| Benefits continuation | ◇ |
| Excise tax treatment | ◇ |
Director compensation
What each non-employee director was paid.
Fiscal 2025
| Director | Fees earned in cash | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|
Kathleen M. Mazzarella Board chair | ◇ | ◇ | — | — | — | — | ◇ |
William B. Plummer | ◇ | ◇ | — | — | — | — | ◇ |
Victoria M. Holt | ◇ | ◇ | — | — | — | — | ◇ |
Andrés R. Gluski | ◇ | ◇ | — | — | — | — | ◇ |
Sean E. Menke | ◇ | ◇ | — | — | — | — | ◇ |
Bruce E. Chinn | ◇ | ◇ | — | — | — | — | ◇ |
Maryrose T. Sylvester | ◇ | ◇ | — | — | — | — | ◇ |
James C. Fish, Jr and Thomas L. Ben served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.
Director fee schedule
The standing retainers and premiums the board pays, as published.
| Board cash retainer | ◇ |
| Board equity retainer | ◇ |
| Total board retainer | ◇ |
| Board chair premium | ◇ |
| Compensation committee chair | ◇ |
Disclosed peer group
The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
- Carrier Global CARR
- Cintas CTAS
- Constellation Energy CEG
- CSX CSX
- Cummins CMI
- Duke Energy DUK
- Eaton ETN
- Emerson Electric EMR
- FedEx FDX
- Grainger (WW) GWW
- Johnson Controls International JCI
- NextEra Energy NEE
- Norfolk Southern NSC
- PACCAR PCAR
- Parker-Hannifin PH
- Republic Services RSG
- Schlumberger SLB
- Southern SO
- Sysco SYY
- Trane Technologies TT
- Union Pacific UNP
- United Rentals URI
- UPS UPS
- Waste Connections WCN
Say-on-pay history
Shareholder support for the compensation program, by year.
| Year | Meeting | Support | Votes for | Votes against | Abstentions |
|---|---|---|---|---|---|
| 2025 | May 12, 2026 | = | ◇ | ◇ | ◇ |
| 2024 | May 13, 2025 | = | ◇ | ◇ | ◇ |
| 2023 | May 14, 2024 | = | ◇ | ◇ | ◇ |
| 2022 | May 9, 2023 | = | ◇ | ◇ | ◇ |
| 2021 | May 10, 2022 | = | ◇ | ◇ | ◇ |
| 2020 | May 11, 2021 | = | ◇ | ◇ | ◇ |
| 2019 | May 12, 2020 | = | ◇ | ◇ | ◇ |
| 2018 | May 14, 2019 | = | ◇ | ◇ | ◇ |
| 2017 | May 14, 2018 | = | ◇ | ◇ | ◇ |
| 2016 | May 12, 2017 | = | ◇ | ◇ | ◇ |
Chief executive pay ratio
As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇
What this page does not include
Everything above is a fact Waste Management disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Waste Management sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion IntelligenceAdviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
Inquire about accessMultiple companies at once
Cross-company views, cohort screens, and data export across the industries we cover. This page is one company; the platform is all of them.
Velarion IntelligenceCitations
Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
211 figures on this page: 201 cited to the filing that reported them, 10 calculated from figures it prints.
201 cited to the filing
10 calculated from the filing
Documents cited
- 0001104659-26-060755Item 5.07 Submission of Matters to a Vote of Security Holders
- 0001104659-26-0373812025 Director Compensation Table · Compensation Discussion and Analysis · Grant of Plan-Based Awards in 2025 · Non-Employee Director Compensation · and 2 more sections
- 0001104659-25-048609Item 5.07 Submission of Matters to a Vote of Security Holders
- 0001104659-24-063047Item 5.07 Submission of Matters to a Vote of Security Holders
- 0001104659-23-058503Item 5.07 Submission of Matters to a Vote of Security Holders
- 0001104659-22-060440Item 5.07 Submission of Matters to a Vote of Security Holders
- 0001104659-21-065992Item 5.07 Submission of Matters to a Vote of Security Holders
- 0001104659-20-062449
- 0001104659-19-030257
- 0001104659-18-033991
- 0001104659-17-033031
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Waste Management executive compensation, FY2025.” https://intel.velarion.ai/comp/WM (accessed 2026).
Short form: data: Velarion
The Waste Management brief, $1,500
Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
From $1,200 for the board report; $2,400 for both.
11 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
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A small, cited view of this data for your own page or newsletter. Every embed carries a visible link back here, so the attribution travels with it.
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Peers Waste Management discloses
The companies named in WM's own disclosed peer group.
Terms on this page
Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.
Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
author = {{Velarion Company Intelligence}},
title = {Velarion database: executive and board compensation data},
year = {2026},
version = {2026Q3},
doi = {10.5281/zenodo.22283854},
publisher = {Zenodo},
url = {https://doi.org/10.5281/zenodo.22283854}
}