Republic Services, Inc. (RSG) reported a Form 4 ownership change for insider Elyse Carlsen tied to equity-compensation awards on July 15, 2026. The filing was submitted on July 17, 2026, and signed by Lauren McKeon as attorney-in-fact. The reported action appears to involve derivative securities rather than an open-market purchase or sale of common stock. The explanatory notes state that the securities convert on a 1-for-1 basis, and that the change includes additional restricted stock units, or RSUs, accrued as dividends on outstanding RSU awards. These dividend-equivalent RSUs will vest and be settled only to the extent the underlying RSU awards vest and settle. The filing also notes that a portion of Carlsen’s RSUs are held under Republic Services’ Deferred Compensation Plan. In addition, it reports dividend equivalents received on earned performance shares, or PSUs, under the Republic Services, Inc. 2021 Stock Incentive Plan. Those PSU-related dividend equivalents were also deferred under the company’s Deferred Compensation Plan. No share counts, transaction prices, transaction codes, or post-transaction ownership totals are visible in the provided filing text. As a result, the filing does not indicate a discretionary insider purchase or sale, nor does it provide enough detail to quantify the increase in Carlsen’s beneficial ownership. The practical significance is that Carlsen’s equity-linked compensation increased through dividend-equivalent accruals on RSUs and earned PSUs, with settlement subject to the applicable vesting, settlement, and deferral arrangements.