Waste Management 2014 Annual Report Download - page 64

which will be long-term if the participant’s holding period is more than 12 months. If the participant disposes of
shares purchased under the ESPP at least two years after the first day of the applicable Offering Period and at
least one year after the purchase date, the participant will realize ordinary income in the year of disposition equal
to the lesser of (a) the excess of the fair market value of the shares on the date of disposition over the purchase
price or (b) 15% of the fair market value of the shares on the first day of the applicable Offering Period. The
amount of any ordinary income will be added to the participant’s basis in the shares, and any additional gain
recognized upon the disposition after such basis adjustment will be a long-term capital gain. If the fair market
value of the shares on the date of disposition is less than the purchase price, there will be no ordinary income and
any loss recognized will be a long-term capital loss. If the participant still owns the shares at the time of death,
the lesser of (a) the excess of the fair market value of the shares on the date of death over the purchase price or
(b) 5% of the fair market value of the shares on the first day of the Offering Period in which the shares were
purchased will constitute ordinary income in the year of death. Any ordinary income recognized by a participant
upon the disqualifying disposition of the shares generally should be deductible by the Company for federal
income tax purposes, except to the extent such deduction is limited by applicable provisions of the Code or the
regulations thereunder.
New Plan Benefits
The value of the Common Stock purchased through the ESPP will vary based on the fair market value of our
Common Stock on the first and last days of the Offering Period. Accordingly, the number of shares that may be
purchased by the named executive officers, the executive officers as a group and all employees, including all
current officers who are not executive officers, as a group in the future is not currently determinable. However,
the table below shows, as to each of the indicated individuals and groups, the number of shares of Common
Stock purchased by such individuals during the 2014 Offering Periods under the ESPP. The weighted average
purchase price per share of Common Stock purchased during the 2014 Offering Periods under the ESPP was
$37.8158. Non-employee directors of the Company are not eligible to participate in the ESPP.
Name/Group Number of Shares
David P. Steiner ........................................................... 566
James E. Trevathan, Jr ...................................................... 0
James C. Fish, Jr ........................................................... 0
Jeff M. Harris ............................................................. 0
John J. Morris, Jr .......................................................... 0
Mark A. Weidman ......................................................... 482
David A. Aardsma ......................................................... 423
All current executive officers as a group ........................................ 2,045
All employees, including all current officers who are not executive officers, as a group . . . 771,190
Vote Required for Approval
Approval of this proposal requires the affirmative vote of a majority of the shares present at the meeting, in
person or represented by proxy, and entitled to vote.
THE BOARD OF DIRECTORS RECOMMENDS THAT YOU VOTE FOR THE APPROVAL OF
THE AMENDMENT TO THE EMPLOYEE STOCK PURCHASE PLAN.
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