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AI brief of an SEC Form 8-K · Waste Management (WM)

Waste Management amends credit agreement, adding back non-cash items to covenant calculations

Neutral Impact 2 of 5 financing Written later

On March 20, 2026, Waste Management entered into Amendment No. 2 to its revolving credit agreement with Bank of America as administrative agent. The amendment lets the company add back equity-based compensation and interest accretion as non-cash items when calculating its leverage ratio covenant, which the company says aligns its approach with certain industry peers.

Key points

  • Amendment No. 2 dated March 20, 2026, modifies the EBIT and EBITDA definitions in the Seventh Amended and Restated Revolving Credit Agreement dated May 8, 2024
  • Equity-based compensation and interest accretion can now be added back as non-cash items for the leverage ratio financial covenant under Section 9
  • Bank of America, N.A. is administrative agent; the filing does not state any dollar amounts or borrowing changes

The filing

CompanyWaste Management (WM)
Form8-K, current report
Filed with the SECMar 25, 2026, 4:23 PM ET
Accession number0001104659-26-034537

Items reported: 1.01 Material Definitive Agreement

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:21 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on March 25, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.