WASTE MANAGEMENT INC — Director's Dealing 2013

May 22, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: WASTE MANAGEMENT INC (WM)
CIK: 0000823768
Period of Report: 2013-05-20

Reporting Person: Rankin Devina A (VP & Treasurer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-05-20	Common Stock	M	3860.0000	$37.1850	Acquired	5406.7460	Direct
2013-05-20	Common Stock	M	2161.0000	$33.4900	Acquired	7567.7460	Direct
2013-05-20	Common Stock	M	812.0000	$34.9350	Acquired	8379.7460	Direct
2013-05-20	Common Stock	S	6150.0000	$42.5175	Disposed	2229.7460	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-05-20	Stock Option (Right to Buy)	$33.4900	M	2161.0000	Disposed	2021-03-09	Common Stock (2161.0000)	Direct
2013-05-20	Stock Option (Right to Buy)	$37.1850	M	3860.0000	Disposed	2021-03-09	Common Stock (3860.0000)	Direct
2013-05-20	Stock Option (Right to Buy)	$34.9350	M	812.0000	Disposed	2022-03-09	Common Stock (812.0000)	Direct

Footnotes

F1: This transaction was executed in multiple trades at prices ranging from $42.51 to $42.54. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the isuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

F2: Stock option granted pursuant to Waste Management, Inc. 2009 Stock Incentive Plan. The stock option vests 25% on the first and second anniversary of the date of grant with the remaining 50% on the third anniversary of the date of grant.